EMS shares listed at 33% premium over IPO price on NSE and BSE amid negative domestic market. The share debuted at Rs 281.55 on the BSE, as compared to the issue price of Rs 211. The investors have made a profit of 70.55 per share as the scrip gave more than 33% return to investors on listing.
The EMS IPO opened for public subscription on Friday, September 8, and closed on Tuesday, September 12. The EMS IPO was subscribed 76.21 times. The Qualified Institutional Buyers (QIBs) category was subscribed 149.98 times, the portion for non-institutional investors received an 84.39-time subscription, and the Retail Individual Investors (RIIs) quota got oversubscribed by 30.55 times. The public offer comprised a fresh issue of equity shares worth Rs 146.24 crore and an Offer-For-Sale (OFS) with promoters offloading 82.4 lakh shares worth Rs 175 crore.
About EMS
EMS is engaged in the business of providing water and wastewater collection, treatment, and disposal services. The company provides Sewerage solutions, Water Supply Systems, Water and Waste Treatment Plants, Electrical Transmission and Distribution, Road and Allied works, operation and maintenance of Wastewater Scheme Projects (WWSPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies. WWSPs include Sewage Treatment Plants (STPs) along with Sewage Network Schemes and Common Effluent Treatment Plants (CETPs) and WSSPs include Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for the supply of water.