GEM Enviro Management unveils IPO

Published - June 17, 2024 08:24 pm IST - MUMBAI

GEM Enviro Management Ltd. which is into plastic waste management and sustainability services, has announced to open its Initial Public Offering (IPO) on June 19 to raise up to ₹44.93 crore. The company’s shares will be listed on the BSE SME platform. The fresh issue size is 14,97,600 equity shares and offer for sale (OFS) is 44,92,800 at face value of ₹ 5 each, the company said in a statement. The net proceeds from the IPO will be utilised for working capital requirements and general corporate purposes. closes on June 21.

Sachin Sharma, Managing Director, GEM Enviro Management Ltd said, “Over the past decade, we have established ourselves as one of the pioneers in plastic waste management and sustainability services. Our future plans include expanding our offerings in E-waste, battery and tyre waste Extended Producer Responsibility (EPR) markets, strengthening our strategic Environmental, Social & Governance (ESG )advisory and Business Responsibility & Sustainability Reporting (BRSR) services.”  “This expansion will enable us to offer even more comprehensive and tailored EPR solutions, driving substantial environmental benefits and supporting India’s journey towards sustainable development. With this IPO, we are poised to accelerate our growth trajectory and make even greater strides in our mission to promote a sustainable and eco-friendly future for India,” he added.

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