Water and Sewerage Infrastructure Player EMS Ltd to Launch IPO on September 8

EMS IPO: Water and sewerage infrastructure company EMS Ltd announced on Monday that it has established a price range of Rs 200-211 per share for its initial public offering (IPO) valued at Rs 321 crore.

The IPO will be available for public subscription from September 8 to 12, with bidding for anchor investors commencing on September 7, according to the company's statement.

The IPO includes a fresh issue of equity shares worth Rs 146.24 crore and an offer for sale (OFS) of 82.94 lakh shares by the promoter and founder Ramveer Singh.

Currently, Singh holds a 97.81 per cent stake in the company.

Pre-IPO stats

During the pre-IPO placement round, the Ghaziabad-based firm raised Rs 33.76 crore, resulting in a reduction in the size of the fresh issue from the originally planned Rs 180 crore to Rs 146.24 crore.

At the upper price band, the IPO's total size is Rs 321 crore.

The funds from the fresh issue will be used to finance working capital requirements and other general corporate purposes.

Khambatta Securities is the exclusive book-running lead manager for the issue, and the company's shares will be listed on the BSE and NSE.

EMS Ltd specialises in water and sewerage infrastructure solutions, including the construction of sewerage networks and water treatment plants in Uttar Pradesh, Bihar, Uttarakhand, and Rajasthan. Over the past 13 years, the company has completed 67 projects and currently has an order book worth Rs 1,775 crore, consisting of 18 ongoing projects.

(With PTI inputs)