GEM Enviro Management, a leading player in waste management and sustainability services, made a triumphant debut on the BSE SME platform, with its shares opening at ₹142.50, a remarkable 90% premium over its issue price of ₹75. The stock continued to climb, hitting a high of ₹164.95, representing a 99% premium.
This strong performance comes on the back of an overwhelming response to the company’s Initial Public Offering (IPO), which was subscribed a staggering 265 times. The IPO, valued at ₹44.93 crore, saw strong participation from all investor categories, with retail investors subscribing 240 times, non-institutional investors 462 times, and Qualified Institutional Buyers (QIBs) 160 times.
The company plans to utilize the net proceeds from the IPO to meet working capital requirements and for general corporate purposes.
A Focus on Sustainability
GEM Enviro Management distinguishes itself by providing a comprehensive suite of sustainability services to its clients, addressing critical environmental concerns posed by waste. Their services include:
Extended Producer Responsibility (EPR) compliance: Helping companies meet their legal obligations to manage their plastic waste.
Scrap Management: Efficiently managing and recycling scrap materials.
ESG (Environment, Social, and Governance) Consulting: Providing guidance on sustainability practices.
BRSR (Business Responsibility and Sustainability Reporting) Reporting: Supporting companies in fulfilling their sustainability reporting requirements.
Plastic Credit Management: Facilitating the trading of plastic credits.
Sales and Marketing of Recycled Products: Promoting the use of recycled materials.
Eco-awareness Campaigns: Raising awareness about environmental issues and sustainable practices.
A Strong Client Base
GEM Enviro Management boasts a diverse portfolio of over 100 clients across various industries, including food and beverages (F&B), fast-moving consumer goods (FMCG), cement, fertilizers, packaging, consumer goods, and more. The company has established strong relationships with prominent clients such as Bengal Beverages Private Limited (Bottler of THE COCA-COLA COMPANY), Varun Beverages Limited, National Fertilizers Limited, PepsiCo India Holdings Private Limited, and Krishak Bharati Cooperative Limited (KRIBHCO).
A Leader in Plastic Waste Management
GEM Enviro Management plays a crucial role in India’s Extended Producer Responsibility (EPR) sphere for plastic waste. The company provided over 300,000 MT of EPR credits to its clients in the financial year 2022–23, working with over 25 plastic waste processors.
A Bright Future
The stellar market debut of GEM Enviro Management reflects the growing investor confidence in the company’s commitment to sustainability and its ability to deliver value to its clients. With its strong client base, expertise in waste management, and focus on innovation, GEM is poised for continued success in the rapidly expanding sustainability sector.
