Nupur Recyclers, a scr – metal processing and recycling company in India, has submitted a draft prospectus to the National Stock Exchange (NSE) Emerge – a platform for SMEs looking to raise funds through an initial public offering (IPO).
The offering includes a new offering of 57,000,000 shares. The company has hired investment banks such as Corporate C -ital Ventures Private Limited and ICICI Bank to manage its public offering. The proceeds from the issue will be used for the company’s next stage of growth.
Nupur Recyclers recorded sales growth of over 169.82 percent in H1 FY 2021-22 compared to H1 FY 2020-21 with gross sales of -prox. INR. 83 Cr. Growth is mainly driven by widespread demand for recycled metal across the country, particularly from sectors such as automotive, energy, home furnishings, and roads and transportation.
Demand is met efficiently through the company’s strong partnerships with ferrous and non-ferrous metal scr – suppliers from various countries in Europe and the Gulf region, from where materials such as shredded zinc scr -, zinc die-cast scr -, Zurik SS scr – and aluminum Zorba grades. In the constantly growing market for scr – metal recycling, Nupur Recyclers has recorded steady growth since it was founded.
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Posted: Saturday November 13th, 2021 2:07 PM IST