Apex Ecotech surges 90% above IPO price on NSE SME debut

Apex Ecotech made a stellar debut on the NSE SME platform on December 4, listing at Rs 138.7, a ninety per cent premium over its issue price of Rs 73. The Rs 25 crore SME IPO garnered over 400 times subscriptions, reflecting robust demand from retail and non-institutional investors.

Strong IPO performance

Ahead of its listing, the stock commanded a grey market premium of Rs 45, signalling strong interest. The net proceeds from the IPO are allocated for working capital needs, public issue expenses, and corporate purposes.

Company overview

Apex Ecotech specializes in comprehensive water and wastewater management solutions. The company delivers turnkey projects including industrial water treatment, effluent treatment, sewage treatment, and zero liquid discharge systems (ZLD). Apex also offers EPC (Engineering, Procurement, and Construction) services, ensuring end-to-end solutions for clients.

Industry potential

Asia currently generates forty-two per cent of global wastewater, projected to rise to forty-four per cent by 2030, underlining the growing demand for sustainable water management solutions.

Financial performance

For the half-year ending September 2024, Apex Ecotech reported a total revenue of Rs 21.7 crore and a net profit of Rs 1.55 crore.

The robust listing reinforces the strong investor confidence in the company's business model and growth potential.