EMS IPO allotment out today; here’s how to check

15 Sep 2023 , 10:49 AM

EMS Limited, a provider of water and wastewater collection, treatment, and disposal services, recently concluded its initial public offering (IPO) worth Rs 321 crore. The subscription period for the IPO was from September 8 to 12, with the allotment results scheduled to be announced on September 15, today.

Investors who have applied for the EMS Limited IPO can check the status of their allotment on the BSE website or the website of the IPO registrar, KFin Technologies Limited. To access the allotment status of the EMS IPO, bidders will need to provide their application number and PAN details.

On the final day of the subscription period, the maiden public issue witnessed overwhelming demand, with a subscription rate of 75.28 times. Investors collectively purchased 81.21 crore equity shares, surpassing the offer size of 1.07 crore shares. Qualified institutional buyers displayed significant interest by subscribing 153.02 times their allocated quota, which accounted for 50% of the total offering size. High-net-worth individuals also showed strong demand, with a subscription rate of 82.32 times for the portion representing 15% of the IPO size.

The IPO consists of a fresh issue of shares valued at Rs 146.24 crore and an offer-for-sale (OFS) component featuring 82.94 lakh equity shares worth Rs 175 crore, divested by promoter Ramveer Singh.