Nupur Recyclers, the pioneer in metal scrap processing and recycling in India has filed a draft prospectus with the NATIONAL STOCK EXCHANGE (NSE) Emerge – a platform for SMEs, seeking to raise funds via an initial public offering (IPO).
The issue will comprise a fresh offering of 57,00,000 shares. The company has appointed investment banks such as Corporate Capital Ventures Private Limited and ICICI Bank to manage its public issue. Proceeds from the issue will be used to fuel the company’s next level of growth.
Nupur Recyclers clocked over 169.82% growth in revenue in H1 FY 2021-22 over H1 FY 2020-21, with gross revenue of approximately INR. 83 Cr. The growth is largely driven by the widespread demand for recycled metal across the country, especially from sectors such as Automotive, Power, Home furnishing, and Roads & Transport.
The demand is efficiently met by the company’s strong partnerships with ferrous and non-ferrous metal scrap suppliers from various countries from Europe and the Gulf region from where it imports substances such as shredded Zinc Scrap, Zinc die-cast scrap, Zurik SS scrap, and Aluminium Zorba grades. In the ever-growing market for scrap metal recycling, Nupur Recyclers has been clocking steady growth since its inception.