EMS hits new high, soars 16% in 2 days; commands 46% premium to issue price

A combined 1.22 million equity shares representing 2.5 per cent of total equity of EMS have changed hands in first 25 minutes of trade on the NSE and BSE.

Shares of EMS hit a new high of Rs 322.20, as they rallied 6 per cent on the BSE in Friday’s intra-day trade on the back of heavy volumes. The stock of the company, engaged in water supply & management business, has soared 16 per cent in past two trading days.

The stock now trades 46 per cent higher over its issue price of Rs 221 per share. EMS made its stock market debut on September 21, 2023. A combined 1.22 million equity shares representing 2.5 per cent of total equity of EMS had changed hands on the NSE and BSE in first 25 minutes of trade.

EMS specializes in executing Water Supply & Sewerage Infrastructure Projects including Pipeline Networks, Water Treatment Plants, Sewage Treatment Plants, Reservoirs, Pump houses etc. along with complete Electro-Mechanical solutions.

The company has also evolved into Electrical contractors. The company undertakes turnkey electrical works for all across India. The company specialized in constructing of 33/11 KV, 66/33 KV & 132133 KV Substations, Internal / External electrification work, Erection, Testing & Commissioning of the Transformers, llT/W Panels, Bus Ducts and Rising mains, Underground Trench less line, Overhead transmission lines and building automation system.

The company also provides engineering, procurement, and construction (EPC) services for building and road works and has delivered projects to clients successfully.

The government has allocated major projects of waste water treatment plants under schemes like Namami Gange Programme and Swatch Bharat Mission (Urban). These initiatives are focused on reducing the contamination in the water bodies and reuse of treated water for purposes like toilet flushing, industrial use, irrigation etc.

EMS is a leading water and wastewater management company with a proven track record. The company has a strong order book and is well-positioned to benefit from the government's focus on infrastructure development, according to analysts.

The Initial Public Offering (IPO) of EMS had subscribed 76.21 times with heavy participation from institutional buyers. The category for Qualified Institutional Buyers (QIBs) was subscribed 149.98 times, while the portion for non-institutional investors received 84.39 times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 30.55 times.