The EMS IPO raised around 96.37 crore from anchor investors. The company has received participation from various domestic and foreign investors, including Morgan Stanley Asia (Singapore) PTE, NAV Capital VCC-NAV Capital Emerging Star Fund, Abakkus Diversified Alpha Fund, Saint Capital Fund, Meru Investment Fund, and Bofa Securities Europe. on Thursday.
EMS IPO, which will open today, i.e. on September 8 and close on September 12, will be listed on both the BSE and NSE. The distribution to anchor investors for the EMS IPO took place yesterday.
The company has allotted 45,67,476 shares to anchor investors at a price of ?211 per share, as announced by the IPO Committee. The decision was made in consultation with the selling shareholder and the book running lead manager, and includes a share premium of ?201 per equity share.
The price band for the EMS IPO is fixed between ?200 to ?211 per equity share of face value of ?10 each. The EMS IPO is made up of a fresh issue of shares worth ?146.24 crore and an offer for sale portion of 82,94,118 shares of ?10, totaling ?175 crore sold by promoter selling shareholder Ramveer Singh.
The net proceeds will be used to fund the company's working capital requirements and general corporate purposes. The EMS IPO has reserved not more than 50% of the shares for Qualified Institutional Buyers (QIB), 15% for Non Institutional Investors (NII), and 35% for Retail Investors. |
