EMS IPO: Issue subscribed over 12 times on day 2 so far; NII, retail portion fully booked
IPO Subscription Status: EMS IPO was subscribed 12.49 times on day 2 so far. EMS IPO opened for subscription on Friday, September 8, and will close on Tuesday, September 12. EMS IPO received overwhelming response from non-institutional investors (NIIS) and retail investors on day 2.
Qualified institutional buyers (QIBs) portion saw decent response. EMS IPO's retail investors portion was subscribed 14.39 times, NII portion was subscribed 23.37 times, and QIBs portion was subscribed 48%. EMS IPO has received bids for 13,47,37,050 shares against 1,07,87,431 shares on offer, at 15:03 IST, according to data from the BSE.
EMS IPO retail investors' portion received bids for 7,86,67,820 shares against 54,62,142 shares on offer for this segment. EMS IPO's non-institutional investors' portion received bids for 5,47,35,800 shares against 23,40,918 on offer for this segment. EMS IPO's QIBs portion received bids for 14,19,110 shares against 29,84,371 on offer for this segment.
EMS IPO was subscribed 3.77 times on day 1. 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
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