 "Infra firm EMS Ltd IPO subscribed by 14.99 times on second day of bidding")
The Initial Public Offering (IPO) of water and sewerage infra player EMS Ltd got subscribed 14.99 times on the second day of bidding on Monday.
The share sale received bids for 16,17,01,400 shares against 1,07,87,431 shares on offer, as per NSE data.
The category for non-institutional investors was subscribed 29.68 times while the quota for Retail Individual Investors (RIIs) received 16.52 times subscription and that of Qualified Institutional Buyers (QIBs) was subscribed 67 per cent.
The IPO has a fresh issue of up to Rs 146.24 crore and an offer for sale of up to 82,94,118 equity shares.
The price range for the offer is Rs 200-211 a share.
The company offers water and sewerage infra solutions, including laying the sewerage network to build sewerage and water treatment plants in Uttar Pradesh, Bihar, Uttarakhand and Rajasthan.
EMS Ltd on Thursday said it has raised Rs 96.37 crore from anchor investors. Proceeds from the fresh issue will be used to fund working capital requirements and for other general corporate purposes.
Khambatta Securities is the manager to the offer.
Shares of the company will be listed on the BSE and the NSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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