EMS IPO subscribed 75.28 times, with strong demand from all investor categories
The initial public offering (IPO) of EMS, a water and wastewater collection, treatment, and disposal services provider, was subscribed 75.28 times on September 12, the final day of bidding. The IPO received strong demand from all categories of investors, with the qualified institutional buyer (QIB) portion subscribed 153.02 times, the high networth individual (HNI) portion subscribed 82.32 times, and the retail investor portion subscribed 29.79 times.
The IPO comprises a fresh issue of shares worth Rs 146.24 crore, and an offer-for-sale (OFS) of 82.94 lakh equity shares worth Rs 175 crore by promoter Ramveer Singh. The company intends to use the net fresh issue proceeds for working capital requirements and general corporate purposes.
The basis of allotment of IPO shares will be finalized on September 15, and the equity shares will be credited to demat accounts of eligible investors by September 20. EMS will start trading on the BSE and NSE with effect from September 21.
In the grey market, EMS IPO shares were available at around 57 percent premium over the upper price band. The grey market is an unofficial platform where IPO shares can be bought and sold till the listing.
The strong subscription to the EMS IPO is a reflection of the investors’ bullishness on the company’s prospects. The company is well-positioned to benefit from the growing demand for water and wastewater treatment services in India.
- 22 Sep
Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits
Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.
- 22 Sep
Signature Global IPO Subscribed 11.88 Times on Final Day
The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.
- 22 Sep
Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding
Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts. The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.
- 22 Sep
Pharma company Valiant Laboratories to go public on September 27
Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.
- 21 Sep
Unihealth Consultancy makes tepid debut on NSE Emerge
Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.