EMS IPO opens this week: GMP, price band, dates and other details to know
₹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 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. “Our company has, in consultation with the BRLM, undertaken a Pre-IPO Placement of 16,00,000 equity shares at an issue price of ₹211 per equity share (including a premium of ₹201 per equity share) aggregating ₹3,376.00 lakhs.
The size of the fresh issue of up to ₹18,000.00 lakhs has been reduced by ₹3,376.00 lakhs pursuant to the Pre-IPO Placement and the revised size of the fresh issue is up to ₹14,624.00 lakhs," the company said in its Red Herring Prospectus (RHP). Khambatta Securities Ltd is the Book Running Lead Manager (BRLM) of the offer. Kfin Technologies Ltd is the offer's registrar.
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