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Business News/ Markets / Ipo/  EMS Ltd IPO: EMS IPO raises 96.37 crore from anchor investors; details here
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EMS Ltd IPO: EMS IPO raises ₹96.37 crore from anchor investors; details here

EMS IPO raises ₹96.37 crore from anchor investors. IPO opens on Sep 8 and closes on Sep 12. IPO price band: ₹200-211 per share.

EMS IPO opens on September 8 and will close on September 12. The shares will be listed on both the stock exchanges, BSE and NSE. (Image: Company Website)Premium
EMS IPO opens on September 8 and will close on September 12. The shares will be listed on both the stock exchanges, BSE and NSE. (Image: Company Website)

EMS IPO anchor investors: EMS IPO has raised about 96.37 crore from anchor investors today. EMS IPO opens for subscription on Friday, September 8, and closes on Tuesday, September 12. The allocation to anchor investors for EMS IPO took place today.

The company reported to the stock exchanges that it had allotted 45,67,476 shares to anchor investors on Thursday at a price of 211 per share.

"The IPO Committe of the company, vide their resolution dated September 7, 2023 and selling shareholder in consultation with the book running lead manager to the offer, has finalised allocation of 45,67,476 equity shares, to anchor investors at anchor investor allocation price of 211 per equity share (including share premium of 201 per equity share, " the company said in an exchange filing.

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.

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.

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.

Also Read: Jupiter Life Line Hospitals IPO Day 2: Issue subscribed 3.30 times; retail portion booked 3.08x

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 +125 higher than the previous trading session that was +120. This indicates EMS share price were trading at a premium of 125 in the grey market on Thursday, 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 336 apiece, which is 59.24% 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 125, according to topsharebrokers.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Basilic Fly Studio IPO allotment tomorrow: Latest GMP, here's how to check allotment status

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Published: 07 Sep 2023, 08:39 PM IST
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