Ghaziabad headquartered water treatment and solution company EMS Limited is set to open its IPO tomorrow with a price range of Rs. 200-211 per equity share. It will be closed to the public on September 12, 2023. The issue opens today for the anchor portion. The shares will be listed on both the stock exchanges, BSE and NSE.
The company will offer a total of Rs. 14,624.00 lakhs through a fresh issue of equity shares and 82,94,118 equity shares under an offer for sale by promoter Mr. Ramveer Singh. At present, Mr. Singh holds a 97.81% stake in the company.
The company already completed the pre-IPO placement of 16,00,000 equity shares at an issue price of Rs. 211, aggregating Rs 33.76 crore. The IPO size is expected to be Rs. 320-3211 Proceeds from the fresh issue will fund working capital requirements and other general corporate purposes.
Khambatta Securities Limited is the sole Book Running Lead Manager for the issue, while KFin Technologies Limited is the registrar for the issue.
EMS Ltd., incorporated in 2010, provides various services in sewerage solutions, water supply systems, and wastewater schemes for government authorities and local bodies. The company has executed 67 projects over the past 13 years and has an order book of Rs. 1745 crore. The company's total revenues from operations stood at Rs. 538.16 crore for FY2022-23, with an EBITDA of Rs. 149.01 crore and a PAT of Rs. 108.62 crore. The company's net margin is around 20%, and the company expects to focus on high-margin integrated projects.