EMS will list shares on the BSE and NSE today

Today will see the debut of EMS Ltd, a major participant in the sewerage infrastructure, on the stock market, with the grey market prices indicating a bumper listing on bourses. 

"Trading Members of the Exchange are hereby informed that effective from September 21, 2023, the equity shares of EMS Ltd (Scrip Code: 543983) are listed and admitted to dealings on the Exchange in the list of ''B'' Group Securities. For further details, please refer to the notice no 20230920-40 dated September 20, 2023," said a BSE Notification.

According to estimates, the EMS current GMP indicates a premium of Rs 90, indicating that the stock will have an impressive debut upon its listing on the stock market. Grey market watchers predict that the EMS IPO listing price would be about Rs 301 (Rs 211 + Rs 90), which is more than 40% more than the IPO price range.

A fresh offering of up to Rs 146.24 crore and an offer to sell up to 82,94,118 equity shares were both included in the EMS IPO. The offer's price per share ranged from Rs 200 to 211.

On Tuesday's final day of subscriptions, the Initial Public Offering (IPO) of water and sewerage infrastructure player EMS Ltd was heavily patronised by institutional buyers, receiving 75.28 times its initial subscription. The share sale received bids for 81,21,02,970 shares against 1,07,87,431 shares on offer, according to NSE data.