The Rs 321 crore IPO of EMS will kick-off for bidding on Friday as the wastewater treatment player is selling its shares in range of Rs 200-211 apiece with a lot size of 70 shares.
EMS IPO fully booked which may be attributed largely to the reasonable valuations, robust orderbook, government s focus on improving groundwater management through the Atal Bhujal Yojana program, robust cash flows and healthy financial performance.
The strong demand was led by non-institutional investors, whose category was subscribed 1.89 times, and retail investors with 1.64 times subscription. There were no bids yet from qualified institutional buyers.
The issue received good interest from non-institutional and retail investors on day 1.It has already raised ₹96.37 crore from anchor investors.The net proceeds