Bookbuilding IPO | ₹321 Cr | Listed at BSE, NSE | Fri, Sep 8, 2023 - Tue, Sep 12, 2023
EMS IPO is a book build issue of ₹321.25 crores. The issue is a combination of fresh issue of 0.69 crore shares aggregating to ₹146.24 crores and offer for sale of 0.83 crore shares aggregating to ₹175.01 crores.
EMS IPO bidding started from Sep 8, 2023 and ended on Sep 12, 2023. The allotment for EMS IPO was finalized on Sep 15, 2023. The shares got listed on BSE, NSE on Sep 21, 2023.
EMS IPO price band is set at ₹211 per share. The lot size for an application is 70. The minimum amount of investment required by an retail is ₹14,770 (70 shares) (based on upper price). The lot size investment for sNII is 14 lots (980 shares), amounting to ₹2,06,780, and for bNII, it is 68 lots (4,760 shares), amounting to ₹10,04,360.
Khambatta Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to EMS IPO RHP for detailed Information.
IPO Open
Fri, Sep 8, 2023
IPO Close
Tue, Sep 12, 2023
Issue Price
₹211 per share
Market Cap (Pre-IPO)
₹1,171.70 Cr
| IPO Date | 8 to 12 Sep, 2023 |
| Listed on | Thu, Sep 21, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹200 to ₹211 |
| Issue Price | ₹211 per share |
| Lot Size | 70 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,52,24,925 shares (agg. up to ₹321 Cr) |
| Fresh Issue | 69,30,807 shares (agg. up to ₹146 Cr) |
| Offer for Sale | 82,94,118 shares of ₹10 (agg. up to ₹175 Cr) |
| Share Holding Post Issue | 5,55,30,806 shares |
| BSE Script Code / NSE Symbol | 543983 / EMSLIMITED |
| ISIN | INE0OV601013 |
EMS IPO offers total 1,52,24,925 shares. Out of which 76,12,462 (50.00%) allocated to QIB, 30,44,986 (20.00%) allocated to QIB (Ex- Anchor), 22,83,739 (15.00%) allocated to NII 53,28,724 (35.00%) allocated to RII and 45,67,476 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 76,12,462 (50.00%) | NA |
| − Anchor Investor Shares Offered | 45,67,476 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 30,44,986 (20.00%) | NA |
| NII (HNI) Shares Offered | 22,83,739 (15.00%) | NA |
| − bNII > ₹10L | 15,22,492 (10.00%) | 1,553 |
| − sNII < ₹10L | 7,61,247 (5.00%) | 776 |
| Retail Shares Offered | 53,28,724 (35.00%) | 76,124 |
| Total Shares Offered | 1,52,24,925 (100.00%) |
Investors can bid for a minimum of 70 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹14,770 |
| Retail (Max) | 13 | 910 | ₹1,92,010 |
| S-HNI (Min) | 14 | 980 | ₹2,06,780 |
| S-HNI (Max) | 67 | 4,690 | ₹9,89,590 |
| B-HNI (Min) | 68 | 4,760 | ₹10,04,360 |
EMS IPO raises ₹96.37 crore from anchor investors. EMS IPO Anchor bid date is September 7, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Sep 7, 2023 |
| Shares Offered | 45,67,476 |
| Anchor Portion (₹ Cr.) | 96.37 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Oct 15, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Dec 14, 2023 |
Incorporated in 2012, EMS Limited previously known as EMS Infracon, is engaged in the business of providing water and wastewater collection, treatment, and disposal services.
The company provides Sewerage solutions, Water Supply Systems, Water and Waste Treatment Plants, Electrical Transmission and Distribution, Road and Allied works, operation and maintenance of Wastewater Scheme Projects (WWSPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies. WWSPs include Sewage Treatment Plants (STPs) along with Sewage Network Schemes and Common Effluent Treatment Plants (CETPs) and WSSPs include Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for the supply of water.
EMS Limited has its own civil construction team and employs over 57 engineers, supported by third-party consultants and industry experts.
As on March 24, 2023, EMS is operating and maintaining 13 projects including WWSPs, WSSPs, STPs & HAM aggregating Rs. 1,38,909.00 lakhs & 5 O&M projects aggregating to Rs. 9,928.00 lakhs i.e. unbilled amount as of February 28, 2023, spread across five states.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 638.72 | 502.55 | 378.31 | 308.08 |
| Total Income | 543.28 | 363.10 | 336.18 | 332.36 |
| Profit After Tax | 108.67 | 78.93 | 71.91 | 72.43 |
| NET Worth | 487.83 | 380.18 | 301.91 | 229.99 |
| Reserves and Surplus | 443.45 | 368.43 | 290.16 | 218.24 |
| Total Borrowing | 45.40 | 3.71 | 3.16 | 14.80 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of working capital requirements of our Company; and | 101.24 |
| 2 | General corporate purposes. | 36.48 |
| KPI | |
|---|---|
| ROE | 22.27% |
| ROCE | 28.26% |
| Debt/Equity | 0.09 |
| RoNW | 22.31% |
| PAT Margin | 20.18% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 23.15 | |
| P/E (x) | 10.78 | |
| Promoter Holding | 96.71% | |
| Market Cap | ₹1,171.70 Cr. |
The EMS IPO is subscribed 76.21 times on September 12, 2023 6:32:00 PM (Day 3). The public issue subscribed 30.55 times in the retail category, 149.98 times in the QIB category, and 84.39 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 149.98 | 30,44,985 | 45,66,82,450 |
| NII | 84.39 | 22,83,739 | 19,27,21,410 |
| bNII (bids above ₹10L) | 83.15 | 15,22,493 | 12,65,93,880 |
| sNII (bids below ₹10L) | 86.87 | 7,61,246 | 6,61,27,530 |
| Retail | 30.55 | 53,28,724 | 16,28,05,090 |
| Total | 76.21 | 1,06,57,448 | 81,22,08,950 |
Total Application : 23,93,087
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLM & Legal Counsel (including underwriting commission) | 1.94 |
| 2 | Advertising and marketing expenses | 1.52 |
| 3 | Fees to the Registrar to the Issue | 0.46 |
| 4 | Fees payable to the Regulators including stock exchanges | 1.45 |
| 5 | Corporate Action & Stamp duty | 0.68 |
| 6 | Printing and distribution of Issue stationary | 0.43 |
| 7 | Brokerage and selling commission payable to Syndicate | 1.60 |
| 8 | Brokerage and selling commission payable to Registered Brokers(2)(3)(4) | 0.47 |
| 9 | Processing fees to SCSBs for ASBA Applications procured by the members of the Syndicate or Registered Brokers and submitted with the SCSBs(2)(3)(4) | 0.20 |
| 10 | Processing fees to Issuer banks for UPI Mechanism w.r.t application Forms procured by the members of the Syndicate, Registered Brokers, RTAs or the CDPs and submitted to them(2)(3)(4) | 0.58 |
| 11 | Others (Industry Report, charges for monitoring Agency, Restated financials, NSDL & CDSL Fees, Verification Charges etc.) | 2.73 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹211.00 | ₹211.00 |
| Open | ₹281.55 | ₹282.05 |
| Low | ₹268.60 | ₹268.00 |
| High | ₹290.85 | ₹291.00 |
| Last Trade | ₹279.75 | ₹279.90 |
Lead Manager Reports
EMS IPO is a main-board IPO of 1,52,24,925 equity shares of the face value of ₹10 aggregating up to ₹321 Crores. The issue is priced at ₹211 per share. The minimum order quantity is 70.
The IPO opens on Fri, Sep 8, 2023, and closes on Tue, Sep 12, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in EMS IPO using UPI as a payment gateway. Zerodha customers can apply in EMS IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in EMS IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The EMS IPO opens on Fri, Sep 8, 2023 and closes on Tue, Sep 12, 2023.
EMS IPO lot size is 70, and the minimum amount required for application is ₹14,770.
You can apply in EMS IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for EMS IPO will be done on Friday, September 15, 2023, and the allotted shares will be credited to your demat account by Wed, Sep 20, 2023. Check the EMS IPO allotment status.
The EMS IPO listing date is on Thu, Sep 21, 2023.
