EMS share price debuts at 33.7% premium at ₹282.05 on NSE
₹282.05 per share, 33.7% higher than the issue price of ₹211, and on the BSE, EMS share price was listed at ₹281.55 per share. 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 opened for subscription on Friday, September 8, and closed on Tuesday, September 12. Also Read: EMS IPO listing date today.
GMP, experts predict strong debut of EMS shares on Dalal Street 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. EMS Ltd provides sewerage solutions, water supply systems, water and waste treatment facilities, electrical transmission and distribution, road and allied works, and operates and maintains water supply scheme projects (WSSPs) and wastewater scheme projects (WWSPs) for governmental authorities/bodies.
Read more on livemint.com
