EMS IPO opens for subscription on Friday, September 8, and closes on Tuesday, September 12. The allocation to anchor investors for EMS IPO is scheduled to take place on Thursday, September 7. EMS IPO price band has been fixed in the range between ₹200 to ₹211 per equity share of face value of ₹10 each. EMS IPO lot size is 70 equity shares and in multiples of 70 equity shares thereafter. EMS IPO floor price is 20 times the face value and the cap price is 21.10 times the face value.
EMS IPO details
EMS IPO is made up of fresh issue comprises of shares worth ₹146.24 crore and offer for sale (OFS) portion consists of 82,94,118 shares of ₹10, which aggregates to ₹175 crore sold by promoter selling shareholder Ramveer Singh. EMS IPO total issue size is ₹321.24 crores.
The net proceeds from the fresh issue will be utilised to fund working capital requirements of the company, and general corporate purposes.
The company obtained ₹33.76 crore through a private placement (pre-IPO placement) of 16 lakh shares at the upper price band before submitting the red-herring prospectus. As a result, the fresh issue’s size was lowered from 180 crore to 146.24 crore, a reduction of ₹33.76 crore.
“Our company has, in consultation with the BRLM, undertaken a Pre-IPO Placement of 16,00,000 equity shares at an issue price of ₹211 per equity share (including a premium of ₹201 per equity share) aggregating ₹3,376.00 lakhs. The size of the fresh issue of up to ₹18,000.00 lakhs has been reduced by ₹3,376.00 lakhs pursuant to the Pre-IPO Placement and the revised size of the fresh issue is up to ₹14,624.00 lakhs,” the company said in its Red Herring Prospectus (RHP).
Khambatta Securities Ltd is the Book Running Lead Manager (BRLM) of the offer. Kfin Technologies Ltd is the offer’s registrar.
Also Read: CPS Shapers IPO allotment: GMP, here’s how to check allotment status
EMS IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
EMS Ltd provides sewerage solutions, water supply systems, water and waste treatment facilities, electrical transmission and distribution, road and allied works, and operates and maintains water supply scheme projects (WSSPs) and wastewater scheme projects (WWSPs) for governmental authorities/bodies.
The company bids for tenders issued by CPWD, State Governments and Urban Local Bodies (ULBs) for developing WWSPs and WSSPs on EPC or HAM basis.
Also Read: Ratnaveer IPO: Issue subscribed 5.77 times on day 1; NII, retail portion oversubscribed
EMS IPO dates
EMS IPO basis of allotment of shares will be finalised on Friday, September 15 and the company will initiate refunds on Monday, September 18, while the shares will be credited to the demat account of allottees on Wednesday, September 20. EMS IPO shares are likely to be listed on BSE and NSE on Thursday, September 21.
EMS IPO GMP today
EMS IPO GMP today or or grey market premium is +112 lower than the previous trading session. This indicates EMS share price were trading at a premium of ₹112 in the grey market on Monday, according to topsharebrokers.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of EMS share price is ₹323 apiece, which is 53.08% higher than the IPO price of ₹211.
Today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹103, while the highest GMP is ₹115, according to topsharebrokers.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: Mono Pharmacare IPO allotment finalised: GMP, here’s how to check allotment status
Download The Mint News App to get Daily Market Updates.
Updated: 04 Sep 2023, 09:38 PM IST