Image provided by Nupur Recyclers Limited.
New Delhi-based Nupur Recyclers Limited says it is planning an initial public offering (IPO) for later this month to fund the expansion of its metal recycling and processing activities.
Rajesh Gupta, co-founder of Nupur Recyclers, remarks, “While having witnessed exponential business growth in India, we are really glad to take Nupur Recyclers to yet another level with the IPO. Proceeds from the issue will be used to fuel the company’s next level of growth. For us, this is just the beginning as we have embarked on a journey to encourage environmental sustainability through a variety of initiatives and to gain public support at such a crucial point in the company’s journey will only strengthen our vision to keep moving ahead with a strong vigor.”
The company says it purchases scrap from “numerous shredder and floatation plants in Europe and the United States for the import of substances such as shredded zinc scrap, zinc die-cast scrap, zurik stainless steel scrap and aluminum zorba grades.”
In the domestic market, the company says it has made a foray into the electric vehicle (EV) sector in India. It will set up 200 EV charging points and several battery swapping stations in association with New Delhi-based EVI Technologies.
“At Nupur Recyclers, our vision has been to help conserve natural resources and protect natural ecosystems,” says Gupta. “Our expansion into the EV sector is a further step ahead in this direction as EVs can contribute significantly to the preservation and enhancement of the quality of life and the environment.”
The company says it “has witnessed significant growth year-on-year in revenue” during the current fiscal year, predicting growth of more than 50 percent. Nupur Recyclers describes itself as a leading metal scrap processing and recycling company in India that was co-founded by Gupta and Anoop Garg and incorporated in the 2018-2019 fiscal year.
Regarding the upcoming IPO, Nupur says it is working with investment banks including New Delhi-based Corporate CapitalVentures Private Limited to help manage its public issue.
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