Emiac Technologies' share price made a strong debut in the Indian stock market on Monday, April 13, despite a tepid sentiment on Dalal Street, as it listed at a 10% premium over the IPO price of ₹98 on BSE SME.
Emiac Technologies' share price opened at ₹107.80 apiece on BSE SME. This means that the IPO allottees made a gain of 10% over the IPO price.
The listing of Emiac Technologies IPO exceeded the market expectations as suggested by the grey market premium (GMP). The GMP of Emiac Technologies IPO was ₹0, which indicated the listing price to be the same as the offer price of ₹98.
Emiac Technologies IPO details
The SME IPO was open for bidding from March 27 to April 8.
Emiac Technologies IPO saw an overall subscription of 3.22 times across all categories. The qualified institutional buyers (QIB) portion was subscribed 1.02 times, while non-institutional investors (NII) and retail investors' categories were subscribed 4.96 times and 3.74 times, respectively.
The ₹31.75-crore SME IPO was entirely a fresh issue of 0.32 crore shares, with no offer-for-sale (OFS) component, meaning the entire proceeds will go to the company. The price band for Emiac Technologies’ IPO was set at ₹93 to ₹98 per share, with a lot size of 1,200 shares.
Retail investors were required to apply for a minimum of two lots, translating to an investment of ₹1,17,600. For HNI investors, the minimum investment is ₹3,52,800 at the upper price band, based on a minimum application of three lots.
The company intends to utilise the proceeds for purchasing computers, laptops, related accessories, software subscriptions, and cloud hosting services, as well as for meeting working capital needs, hiring manpower, undertaking branding, advertising and marketing initiatives, and for general corporate purposes.
Smart Horizon Capital Advisors acted as the book-running lead manager for the issue, while Bigshare Services was appointed as the registrar.
Emiac Technologies is an AI-driven, tech-enabled digital solutions provider focused on helping brands grow through scalable and result-oriented services. Its integrated offerings allow organisations to enhance efficiency, streamline operations, and establish a strong and sustainable digital presence.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
