New Delhi: Sewerage infra player EMS Ltd is all set to make its stock market debut on Thursday, with the grey market prices indicating a bumper listing on bourses.
“Trading Members of the Exchange are hereby informed that effective from September 21, 2023, the equity shares of EMS Ltd (Scrip Code: 543983) are listed and admitted to dealings on the Exchange in the list of ”B” Group Securities. For further details please refer to the notice no 20230920-40 dated September 20, 2023,” said a BSE Notification.
Shares of the company will be listed on the BSE and the NSE while the shares will be available to trade around 10 AM today.
EMS IPO GMP
As per reports, the EMS latest GMP suggests a premium of Rs 90, suggesting that the scrip will have a remarkable debut on its stock market listing. As per grey market observers, EMS IPO listing price would be around Rs 301 (Rs 211 + Rs 90), above 40 percent higher that IPO price band.
Meanwhile, as per analysts observation on the higher side, EMS IPO listing price could be around Rs 315 to Rs 325 apiece.
EMS IPO Details
EMS IPO had a fresh issue of up to Rs 146.24 crore and the offer for sale of up to 82,94,118 equity shares. The price range for the offer was Rs 200-211 per share.
The Initial Public Offering (IPO) of water and sewerage infra player EMS Ltd was subscribed 75.28 times on the final day of subscription on Tuesday, with heavy participation from institutional buyers. The share sale received bids for 81,21,02,970 shares against 1,07,87,431 shares on offer, according to NSE data.
With PTI Inputs