The initial public offering of water and sewerage infra player EMS Ltd. was subscribed 75.28 times on the final day of subscription on Tuesday, with heavy participation from institutional buyers.
The share sale received bids for 81,21,02,970 shares against 1,07,87,431 shares on offer, according to NSE data.
The issue closed on Tuesday, September 12 and all eyes are now on the day when the allocation details will be revealed.
The IPO comprises a fresh issue of Rs 146.24 crore, along with an offer for sale of up to 82.94 lakh shares by promoter Ramveer Singh. The price band is set between Rs 200 and Rs 211 apiece. This sets the offer for sale size at Rs 175 crore at the upper price band.
EMS IPO Allotment Date
EMS is likely to finalize the basis of the allotment of its shares on Friday, September 15.
EMS IPO Listing Date
The shares of EMS are likely to be listed on the stock exchanges (BSE & NSE) on Thursday, September 21.
EMS IPO Subscription Day 3
Total Subscription: 75.28 times
Institutional Investors: 153.02 times
Non-Institutional Investors: 82.32 times
Retail Investors: 29.79 times
Anchor Investors: Raised Rs 96.37 crore
Where To Check Allotment Status Of EMS IPO
Investors who are eager to check the allotment status of their allocated shares can visit the BSE website here – https://www.bseindia.com/investors/appli_check.aspx.
or check the website of the IPO registrar, KFIN Technologies here https://ris.kfintech.com/ipostatus/.
About EMS Limited
EMS specialises offers water and sewerage infra solutions, including laying the sewerage network to build treatment plants in Uttar Pradesh, Bihar, Uttarakhand and Rajasthan. They handle wastewater scheme projects and water supply scheme projects, including sewage and water treatment plants. They also compete for tenders and have in-house design, engineering, and construction teams.
EMS on Thursday said it has raised Rs 96.37 crore from anchor investors. Proceeds from the fresh issue will be used to fund working capital requirements and for other general corporate purposes.
. Read more on IPOs by BloombergQuint.
