EMS Share Price Makes Stellar Debut At 33.7% Premium; Know Revised Share Price And Other Details

EMS Ltd made a strong debut on the Indian bourses on Thursday after a strong response from investors in its IPO. The shares of EMS Ltd listed at Rs 282.05 per share on NSE over the issue price of Rs 211 per piece, at a premium of 33.7%. Meanwhile, the shares are listed at Rs 281.55 per share on BSE.

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EMS IPO price band was fixed in the range between Rs 200 to Rs 211 per share per equity share of face value of ₹10 each. Its IPO lot size is 70 equity shares and in multiples of 70 equity shares thereafter.Its floor price is 20 times the face value and the cap price is 21.10 times the face value.

The issue opened for subscription on Friday, September 8, and closed on Tuesday, September 12. 

The IPO is made up of fresh issue of shares worth ₹146.24 crore and offer for sale (OFS) portion consists of 82,94,118 shares of ₹10, which aggregates to ₹175 crore sold by promoter selling shareholder Ramveer Singh. EMS IPO total issue size is ₹321.24 crores.

The net proceeds from the fresh issue will be utilised to fund working capital requirements of the company, and general corporate purposes.

The company obtained Rs 33.76 crore through a private placement (pre-IPO placement) of 16 lakh shares at the upper price band before submitting the red-herring prospectus. The fresh issue's size was lowered from Rs 180 crore to Rs 146.24 crore, a reduction of Rs 33.76 crore.

EMS IPO GMP today

The grey market premium (GMP) of EMS Ltd is +88 similar to the previous trading session, which means that EMS share price was trading at a premium of ₹88 in the grey market on Thursday, according to topsharebrokers.com.

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Taking into account the upper end of the IPO price range and the present premium in the grey market, the anticipated listing price for EMS shares stands at Rs 299 each. This represents a substantial increase of 41.71% compared to the IPO price of Rs 211.