EMS IPO allotment today: Check application status, latest GMP, listing date & other details

EMS Limited is scheduled to announce the basis of allotment of its shares today, that is, Friday, September 15. The primary offering of the water treatment and wastewater collection firm had received a strong response from the investors, led by the institutional bidders, during the three-day bidding process.

The EMS sold its IPO in the price band of Rs 200-211 per share with a lot size of 70 shares, which was open for bidding between September 8 to September 12. The company aimed to raise a little more than Rs 321-crore from its primary offering, which included a fresh share sale of Rs 146.24 crore and offer-for-sale (OFS) of Rs 175 crore.

The issue was overall subscribed 76.21 times as the portion for qualified institutional bidders (QIBs) was booked about 150 times, while the non-institutional investors' category was subscribed 84.39 times. The quota reserved for retail investors was subscribed 30.55 times during the bidding process.

Grey market premium (GMP) of EMS has seen some correction since the closure of the bidding process. Last heard, the company was commanding a premium of Rs 95-100 per share, suggesting a listing pop of 45-47 per cent for the investors. However, it was around Rs 125-130 when the issue closed for bidding.

Incorporated in December 2010, EMS provides various services, ranging from EPC and O&M, in sewerage solutions, water supply systems, and wastewater schemes for government authorities and local bodies. EMS has its own civil construction team and employs over 57 engineers, supported by third-party consultants and industry experts.

Brokerage firms are mostly positive on the issue and have suggested to subscribe to it citing its growth potential and infra-based niche business model, supported with strong fundamentals and financials. However, they have also flagged negative cash flows, heavy dependence on government projects and working capital requirements as the key risks for the business.

Khambatta Securities is the sole manager to the issue, while KFin Technologies has been appointed as the registrar to the Issue. Shares of the company will be listed on both BSE and NSE, with September 21, Thursday, as the tentative date of listing.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select EMS Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Kfin Technologies Limited
 (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

Bidders who could not get allotment in the IPO may see the initialization of refunds on Monday, September 18. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Wednesday, September 20. The listing of the IPO is likely on Thursday, September 21.

Also Read: Yatra Online IPO to open today: Here's what the brokerages say about issue, valuations

Also Read: Cellecor Gadgets IPO to open today; Here are all key details you need to know

Disclaimer: Under no circumstances should any person at this platform make trading decisions based solely on the information discussed herein. You should consult a qualified broker or other financial advisor prior to making any actual investment or trading decisions. All information is for educational and informational use only. Business Today does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same.