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Aluminium scrap recycler Baheti's Rs.12.42 Cr SME IPO oversubscribed 347 times

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The INR 12.42 crore of SME IPO of Baheti Recycling Industries Ltd was subscribed 347.53 times with its retail portion seeing a strong 435.65 times subscription and non-institutional investors (NIIs) bid, 259.21 times. The company intends to use the proceeds for modernization and expansion of existing manufacturing unit, and to meet working capital requirements. Incorporated in 1994, Baheti is engaged in processing aluminium-based metal scrap to manufacture aluminium alloys in the form of ingots and aluminium de-ox alloys in the form of cubes, ingots, shots and notch bar. It is also engaged in trading of scrap materials such as aluminium scrap, brass scrap, copper scrap, and zinc scrap.