Shares of EMS Ltd listed at a premium of 33.7 per cent on stock exchanges on Thursday. EMS Ltd’s shares listed at Rs 282.05 apeice, a premium of 33.7 per cent against its issue price of Rs 221. On the BSE, the company listed at Rs 281.55 per share.
Soon after listing, water and sewerage infra player EMS Ltd shares jumped higher, around 37 per cent up from its issue price to touch an intraday high of Rs 288.80 on NSE. At the time of writing, EMS Ltd shares were trading at Rs 273.40, down 3.07 per cent from its listed price.
EMS Ltd’s initial public offering (IPO) had opened for public subscription from September 8 to 11, and the price range for the offer was fixed at Rs 200-211 per share. Before opening for public offering, EMS Ltd had raised Rs 96.37 crore from anchor investors.
ADVERTISEMENT
On the final day of subscription, EMS Ltd was subscribed 75.28 times with heavy participation from institutional buyers. According to NSE data, EMS’ share sale received bids for 81,21,02,970 shares against 1,07,87,431 shares on offer.
EMS Limited offers water and sewerage infra solutions, including laying the sewerage network to build treatment plants in Uttar Pradesh, Bihar, Uttarakhand and Rajasthan.