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.
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