Nupur Recyclers IPO opens today; Should you subscribe?

Nupur Recyclers IPO opens today; 10 Key points to note before subscribing to the public issue

Nupur Recyclers is growing in the field of import of non-ferrous metal scrap such as shredded Zinc Scrap, Zinc die cast scrap, Zurik SS scrap and Aluminium zorba grades. It is also involved in trading of these metal. The IPO comprises fresh issuance of 57,00,000 equity shares to raise Rs 34.20 crore.

Date: Nupur Recyclers IPO subscription to start from today Dec 13 to Dec 16, 2021

Price band: The price range for the offer has been fixed at Rs.60 per share.

IPO Lot size: Investors can bid for a minimum of 2000 equity shares. At the upper end of the price band, one lot is worth Rs 1,20,000.

Market: NRL IPO will be listed in the NSE Emerge

Fund utilisation: Nupur Recyclers will use the IPO to meet out the Working Capital requirements of the Company, General Corporate Purposes and for issue expenses

Peers: As per the Nupur Recyclers IPO RHP, Rajnandini Metal Limited is the peer group for Nupur Recyclers, the face value for both the company is Rs.10 and Net Asset Value (NAV) is Rs.11.06 for Nupur Recyclers and Rs.10.62 for Rajnandini Metal

Promoters: Mr. Rajesh Gupta and Mr. Anoop Garg are the company promoters

Lead managers: Corporate Capitalventures Private Limited is the book running lead managers to the issue.

Registrar: Skyline Financial Services Private Ltd is the Registrar for this issue.

Financials: Nupur Recyclers reported a profit of Rs 1,000.52 Lakh for FY21, up from just Rs 3.28 Lakh in FY20. Revenue during the same period increased to Rs 10,497.22 lakh from Rs 1,321.46 Lakh

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