EMS Limited files DRHP to raise funds via IPO

12 Apr 2023 , 03:40 PM

EMS Limited, the sewerage solution provider has filed draft papers with the markets regulator SEBI to raise funds through initial public offer. 

As per DRHP, the IPO comprises fresh issue of equity shares worth Rs 180 crore and an offer for sale of 82.94 lakh shares by promoter Ramveer Singh. 

The company may consider pre-IPO placement of up to Rs 60 crore and if such placement takes place, the number of equity shares will be reduced from the issue.

Proceeds from the fresh issue will be utilised towards funding working capital requirements and other general corporate purpose. 

Khambatta Securities Ltd is the book running lead manager to the issue. The equity shares of the company will be listed on the BSE and NSE.