EMS IPO: Issue subscribed over 75 times on day 3 so far; retail portion booked 29.8x
2 min read 12 Sep 2023, 12:42 PM ISTEMS IPO subscribed 75.28 times on day 3, with retail portion subscribed 29.79 times and NII portion subscribed 82.32 times.
PremiumEMS IPO Subscription Status: EMS IPO was subscribed 75.28 times on day 3. EMS IPO opened for subscription on Friday, September 8, and will close today (Tuesday, September 12).
EMS IPO received positive response from non-institutional investors (NIIS) and retail investors on day 3. Qualified institutional buyers (QIBs) portion saw decent response.
EMS IPO's retail investors portion was subscribed 29.79 times, NII portion was subscribed 82.32 times, and QIBs portion was subscribed 153.02 times.
EMP IPO Subscription Status details
EMS IPO has received bids for 81,21,07,030 shares against 1,07,87,431 shares on offer, according to data from the BSE.
EMS IPO retail investors' portion received bids for 16,27,19,130 shares against 54,62,142 shares on offer for this segment.
EMS IPO's non-institutional investors' portion received bids for 19,27,05,450 shares against 23,40,918 on offer for this segment.
EMS IPO's QIBs portion received bids for 45,66,82,450 shares against 29,84,371 on offer for this segment.
EMS IPO was subscribed 15.05 times on day 2, and on day 1 EMS IPO was subscribed 3.77 times.
Also Read: EMS IPO: Issue subscribed over 15 times on day 2; NII, retail portion fully booked
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. EMS IPO has raised about ₹96.37 crore from anchor investors.
NAV Capital VCC-NAV Capital Emerging Star Fund, Abakkus Diversified Alpha Fund, Saint Capital Fund, Meru Investment Fund, Bofa Securities Europe, Morgan Stanley Asia (Singapore) PTE were among the domestic and foreign investors who took part in the anchor book issue.
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.
Also Read: EMS IPO last day today: GMP, review, other key details. Should you subscribe?
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 +120 similar to the previous trading session. This indicates EMS share price were trading at a premium of ₹120 in the grey market on Tuesday, 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 ₹331 apiece, which is 56.87% 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 ₹127, according to topsharebrokers.com. On Sunday, EMS IPO's GMP was ₹127.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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