Apex Ecotech Debuts On NSE Emerge With Strong Market Performance

New Delhi, Dec 4 (KNN) Apex Ecotech, a water and wastewater treatment solutions provider, made a remarkable stock market entrance today, with shares trading at Rs 145.60 on the NSE Emerge platform, representing a substantial 99.45 per cent premium over its initial public offering (IPO) price of Rs 73.

The company's initial listing at Rs 138.70 already demonstrated significant investor confidence, with a 90 per cent premium compared to its offer price. 

Trading dynamics quickly showed the stock hitting an upper limit freeze of 5 per cent, reflecting intense market interest. During the trading session, approximately 15.33 lakh shares exchanged hands, underscoring robust market participation.

The IPO, which was open for bidding from 27 to 29 November 2024, garnered extraordinary investor attention, being oversubscribed by an impressive 420.73 times. 

The initial price band was set between Rs 71 and Rs 73 per share, with the offering comprising a fresh issue of 34,99,200 shares. This public offering resulted in a notable reduction of promoter and promoter group shareholding from 94.32 per cent to 69.29 per cent. 

Prior to the public offering, Apex Ecotech strategically raised Rs 7.21 crore from anchor investors on 26 November 2024, allocating 9.88 lakh shares at Rs 73 per share to four institutional investors. 

The company has articulated plans to deploy the net proceeds towards working capital requirements, public issue expenses, and general corporate purposes.

Specialising in comprehensive water management solutions, Apex Ecotech offers a range of services including industrial raw water treatment, effluent and sewage treatment plants, sludge dewatering, and advanced water recycling technologies. 

The company's technical portfolio encompasses membrane systems like ultrafiltration, nanofiltration, and reverse osmosis, along with specialised zero liquid discharge systems.

As of 30 September 2024, the company reported operational revenue of Rs 21.70 crore and a net profit of Rs 1.55 crore. 

With a lean workforce of 119 full-time employees, Apex Ecotech appears positioned to leverage its specialised ecological technology solutions in the growing environmental management marketplace.

(KNN Bureau)