EMS Ltd IPO: EMS IPO raises ₹96.37 crore from anchor investors; details here
₹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 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.
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