Organic Recycling Systems' share price launches on the BSE SMe at a 7.5% premium, or $215

 Organic Recycling Systems' share price launches on the BSE SMe at a 7.5% premium, or $215

Date of Organic Recycling Systems' initial public offering: Today marked the company's shares' mediocre BSE SME debut. Organic Recycling Systems' share price today on the BSE SME was listed at 215 rupees per share, 7.5% more than the initial issue price of 200 rupees.

Details of the Organic Recycling IPO

The 50 crores-worth Organic Recycling Systems IPO is entirely a new issue of 2,500,200 equity shares; there is no offer for sale (OFS) component. The organization's promoter is Sarang Bhand.

The company intends to pay down debt, satisfy general corporate needs, and cover issue costs with the net revenues from the offering. According to the red herring prospectus (RHP), debt repayment will account for 75% of gross IPO revenues, general corporate purposes for 20.96%, and issuance expenses for 4.04%.

The Organic Recycling IPO's book-running general manager is Arihant Capital Markets Ltd, and the issue's registration is Maashitla Securities Private Ltd. Arihant capital market is the market maker for Organic Recycling Systems' IPO.

RHP claims that Organic Recycling Systems is involved in the value chain-wide and cross-waste type solutions. Since 2008, Organic Recycling has offered environmentally friendly trash management options in India. Technocrats founded the company, and our main focus has been on creating reliable, economical, and environmentally responsible technologies that are easy to use.

IPO GMP for Organic Recycling Systems today

Today's grey market premium for the Organic Recycling IPO is +16, which is consistent with the prior two trading sessions. According to investorgain.com, this showed that the shares of Organic Recycling IPO GMP today were trading at a premium of 16 on Friday.

The predicted listing price of Organic Recycling Systems shares was 216 per share, which is 8% more than the Organic Recycling IPO issue price of 200. This estimate took into account the upper end of the Organic Recovery IPO price band and the current premium in the grey market.

Investors' willingness to pay more than the issue price is indicated by the term "grey market premium."