GEM Enviro IPO price band set at ₹71 - 75 per share; SME IPO to open on June 19
₹44.93 crore. GEM Enviro IPO is an SME IPO and is set to hit the street on June 19.The bidding for GEM Enviro IPO closes for subscription on June 21 and the IPO allotment is expected to be finalized on June 24.
GEM Enviro IPO price band is set at ₹71 to ₹75 per share. At the upper end of the price band, GEM Enviro Management IPO size is ₹44.93 crore.
The book-built issue is a combination of fresh issue of 14.98 lakh equity shares aggregating to ₹11.23 crore and offer for sale (OFS) of 44.93 lakh shares aggregating to ₹33.70 crore.Also Read: ixigo IPO allotment in focus today; latest GMP, key dates, step-by-step guide to check statusGEM Enviro IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹120,000. The equity shares of GEM Enviro Management will list on BSE SME with tentative listing date fixed as June 26.The company plans to utilise the net issue proceeds to meet working capital requirements and for general corporate purposes.Sachin Sharma, Sangeeta Pareekh, Dinesh Pareekh, Sarthak Agarwal, and BLP Equity Research Private Limited are the promoters of GEM Enviro Management Ltd.
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