EMS IPO: Check live subscription status on day 1

8 Sep 2023 , 12:03 PM

The initial public offering (IPO) of EMS Limited, valued at Rs 321 crore, commenced today and will remain open for bidding until September 12, 2023. The water treatment and wastewater management company has established an IPO price range of Rs 200 to Rs 211 per equity share. To subscribe to the IPO, please follow this link.

Within the first two hours of its launch, the IPO has garnered a remarkable 0.64 times subscription, with the retail segment witnessing bids for 0.85 times the reserved shares and the Non-Institutional Investor (NII) segment experienced 0.95 times subscription rate.

The IPO consists of two components: a fresh issuance of shares valued at Rs 146.24 crore and an offer-for-sale of 82.94 lakh shares, equivalent to Rs 175 crore at the upper price band, by promoter Ramveer Singh.

EMS Limited, a company specializing in water and wastewater collection, treatment, and disposal services, intends to allocate the net proceeds from the fresh issue primarily for working capital requirements, totaling Rs 101.24 crore, with the remainder earmarked for general corporate purposes.

As of July 31, 2023, the company is actively managing and maintaining a portfolio of 18 projects, encompassing Wastewater Scheme Projects (WWSPs), Water Supply Scheme Projects (WSSPs), Sewage Treatment Plants (STPs), and Hybrid Annuity Model (HAM) projects, with a cumulative value of Rs 1,744.9 crore. Additionally, it oversees five Operation and Maintenance (O&M) projects valued at Rs 99.3 crore.