50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

EMS Ltd IPO oversubscribed, allotment to finalize today

EditorAmbhini Aishwarya
Published 09/15/2023, 03:15 AM
© Reuters.

© Reuters.

EMS Ltd, the water and sewerage infrastructure player, is set to finalize the allotment of its shares today, Friday. The company's initial public offering (IPO) which concluded on September 8, was heavily oversubscribed on the final day of subscription, with the price band set between Rs 200 and Rs 211 apiece.

The IPO was subscribed 75.28 times overall, with robust participation across all investor categories. Institutional investors subscribed 153.02 times, non-institutional investors 82.32 times, and retail investors 29.79 times. These figures reflect a significant increase in interest from the first day of subscription when the overall subscription was at 3.71 times.

In addition to this strong subscription performance, the Grey Market Premium (GMP) for EMS IPO has soared in the price range between Rs 100-125 ($1 = INR83.047) in the unregulated market. This substantial premium suggests a positive market sentiment surrounding EMS Ltd., indicating investors' willingness to pay a significant premium over the IPO's issue price for a stake in the company.

Following the finalization of allotment today, refunds are expected to be initiated on September 18, with shares credited to Demat accounts by September 20. The equity shares are proposed to be listed on BSE and NSE on Monday, September 21.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.

Which stock should you buy in your very next trade?

AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?

Unlock ProPicks AI

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.