EMA Partners India SME IPO to open on Jan 17; raise Rs 76 crore
EMA Partners India on Saturday said it is looking to raise Rs 76 crore on the NSE's Emerge platform through an initial public offering, which will open for public subscription on January 17. The issue with a price band of Rs 117-124 apiece will conclude on January 21. The bidding for anchor investors will open for a day on January 16, the company said in a statement.
At the upper end of the price band, the company will raise about Rs 76.01 crore.
The shares of the company are proposed to be listed on the Small and Medium Enterprises (SME) platform of NSE Emerge. Investors can bid for a minimum of 1,000 shares and in multiples thereof, it added.
The initial public offering (IPO) is a fresh issue of up to 53.34 lakh equity shares, aggregating up to Rs 66.14 crore and an offer for sale component of up to 7.96 lakh shares by promoters — Krishnan Sudarshan and Subramanian Krishnaprakash, according to the red herring prospectus (RHP) filed on January 9.
Shekhar Ganapathy, a public shareholder, will also offload shares in the company.
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