EMS IPO: 23x subscription on day 3, retail segment 22.6x booked

EMS IPO: 23x subscription on day 3, retail segment 22.6x booked

EMS IPO Subscription Status Details On Day 3

The EMS IPO has been generating significant buzz in the financial world, and on Day 3 of its subscription period, it has witnessed an impressive 23.02 times oversubscription. This IPO, which opened for subscription on September 8 and closes today, September 12, is creating waves, particularly among retail investors. Let’s delve into the subscription details and what investors can expect from this exciting offering.

Impressive Response from Retail and Non-Institutional Investors:

The EMS IPO has garnered a remarkable response from retail and non-institutional investors (NIIs) on Day 3. Retail investors, in particular, have shown immense interest, subscribing at a rate of 22.64 times the shares allocated to them. The NII portion, too, has seen an overwhelming subscription rate of 50.04 times. Meanwhile, the qualified institutional buyers (QIBs) portion has experienced decent demand, with a subscription rate of 2.74 times.

EMS IPO Subscription Status in Numbers:

As of 12:30 IST, the EMS IPO has received bids for a staggering 24,89,95,880 shares against the total offer of 1,07,87,431 shares, according to data from the BSE. The retail investors’ portion alone has received bids for 12,36,85,030 shares against the available 54,62,142 shares. NIIs have bid for 11,71,32,610 shares compared to the 23,40,918 shares on offer for this segment. For QIBs, the subscription stands at 81,78,240 shares against the available 29,84,371 shares.

EMS IPO Details:

The EMS IPO comprises a fresh issue of shares worth ₹146.24 crore and an offer for sale (OFS) portion consisting of 82,94,118 shares priced at ₹10 each, totaling ₹175 crore, which are being sold by promoter selling shareholder Ramveer Singh. The total issue size for the EMS IPO is ₹321.24 crores. The company successfully raised ₹96.37 crore from anchor investors, including NAV Capital VCC-NAV Capital Emerging Star Fund, Abakkus Diversified Alpha Fund, Saint Capital Fund, Meru Investment Fund, Bofa Securities Europe, and Morgan Stanley Asia (Singapore) PTE.

EMS IPO Utilization of Proceeds:

The net proceeds from the fresh issue will be primarily allocated to fulfill the company’s working capital requirements and serve general corporate purposes.

EMS Pre-IPO Placement Impact:

Before the red-herring prospectus was submitted, the company secured ₹33.76 crore through a private placement (pre-IPO placement) of 16 lakh shares at the upper price band. Consequently, the fresh issue’s size was adjusted from ₹180 crore to ₹146.24 crore, reflecting a reduction of ₹33.76 crore.

EMS IPO Important Dates:

The basis of allotment for EMS IPO shares will be finalized on September 15, with refunds scheduled to commence on September 18. Shares are expected to be credited to the demat accounts of allottees on September 20. The listing of EMS IPO shares on BSE and NSE is anticipated to take place on September 21.

EMS IPO Grey Market Premium Today:

The EMS IPO continues to exhibit a strong Grey Market Premium (GMP) of +120, consistent with the previous trading session. This indicates that EMS shares are trading at a premium of ₹120 in the grey market as of Tuesday.

EMS IPO Listing Price:

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price for EMS shares is projected to be ₹331 per share. This represents a substantial increase of 56.87% over the IPO price of ₹211.


The GMP for the EMS IPO is showing upward momentum, with the lowest GMP at ₹103 and the highest at ₹127, as reported by topsharebrokers.com. It’s worth noting that on Sunday, the GMP for EMS IPO stood at ₹127.

About EMS:

EMS Limited, previously operating under the name EMS Infracon Pvt Ltd, has been engaged in the provision of clean drinking water, water treatment facilities, wastewater collection, and related disposal services since the year 2012. The company specializes in delivering solutions for sewage management, electrical distribution, operational services, and the maintenance of water supply projects.

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