Shares of EMS Ltd. debuted at Rs 282.05 apiece on the NSE, a premium of 33.67% to their IPO price of Rs 211 apiece.
On the BSE, the shares listed at Rs 281.55, a premium of 33.44%.
The shares ended at a premium of 32.58% over the IPO price, though it declined 0.64% from its listing price to end at Rs 279.75 apiece.
The initial public offering of water and sewerage infra player was subscribed to 75.28 times on the final day. The category for institutional investors was subscribed to 153.02 times, while the portion for non-institutional investors received 82.32 times. The quota for retail investors was subscribed to 29.79 times.
"The company's strong fundamentals and good subscription levels were positive factors in this. 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," said Anubhuti Mishra, equity research analyst at Swastika Investmart.
Business
EMS specialises in providing comprehensive infrastructure solutions, including sewerage, water supply, waste treatment, electrical transmission, and roadworks for government bodies. They handle wastewater scheme projects and water supply scheme projects, including sewage and water treatment plants.
They also compete for tenders and have in-house design, engineering, and construction teams. They form joint ventures for project execution, holding a successful track record since 2010 with 50 independent projects and 17 projects acquired from a proprietorship in 2012.
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