How To Check GEM Enviro IPO Allotment Status

The GEM Enviro Management IPO experienced strong demand from investors. The bidding period for GEM Enviro Management was from June 19 to June 21 and it received a total subscription of 244 times.

If you applied for the IPO, here is how you can check the GEM Enviro IPO allotment status.

Checking Allotment Status on Registrar's Website:

Follow these steps to check the GEM Enviro IPO allotment status

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "GEM Enviro" from the dropdown menu.
3. Then on the next page, you can enter your PAN, application number, or Demat.
4. Click Submit to retrieve the GEM Enviro IPO allotment status

Checking IPO Allotment Status on BSE:

1. Go to the BSE website.
2. Click on the ‘Equity' section and select "GEM Enviro" from the dropdown menu.
3. Enter your application number or PAN.
4. Click on the ‘Search' button.
5. The result will show the number of shares allotted to you.

If all the details are entered correctly and the allotment has been finalised, the GEM Enviro IPO allotment status will be visible.

See Also: How To Check DEE Development IPO Allotment Status

GEM Enviro IPO Subscription Status

On the final day of the bidding process, the GEM Enviro IPO received bids for 104.89 crore equity shares compared to the 42.97 lakh shares on offer. The retail investor portion has seen a subscription of 240.25 times, while the non-institutional investors’ quota has been booked 330 times. The qualified institutional buyers (QIB) category has been subscribed 160 times.

GEM Enviro IPO GMP

The GEM Enviro IPO's GMP is currently reported at ₹72. With the IPO's price band set at ₹75, the expected listing price is ₹147, indicating a potential gain of approximately 96% on the listing. However, it's crucial to remember that while GMPs can offer some insight into market sentiment, they are not always a reliable predictor of a stock's performance upon listing.

GEM Enviro IPO IPO Details

The ₹44.93 crore IPO comprises a fresh issue of 14.98 lakh shares, aggregating to ₹11.23 crore, and an offer for sale of 44.93 lakh shares, totalling ₹33.70 crore. The price band for the IPO is set at ₹71-75 per share. The company intends to use the net proceeds to meet working capital requirements and for general corporate purposes. The IPO allotment is expected to be finalised on June 24, with a tentative listing date on BSE SME set for June 26.

GEM Enviro Management specialises in recycling various types of packaging waste, including plastic. The company reported a net profit of ₹10.01 crore on a revenue of ₹42.80 crore for FY23, up from a net profit of ₹7.45 crore and revenue of ₹32.91 crore in FY22. For the nine months ending December 2023, the company posted a net profit of ₹8.40 crore and revenue of ₹26.39 crore.

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