EMS, incorporated on December 21, 2010, operates in various sectors, including sewerage solutions, water supply systems, water and waste treatment plants, electrical transmission and distribution, road and allied works, and the operation and maintenance of wastewater and water supply scheme projects for government authorities and bodies.
| Bidding Dates |
|---|
| 08 Sep 2023 - 12 Sep 2023 |
| Subscription |
|---|
| 75.28x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,770 | 1 | 13 | 70 | 15.2 M | ₹200 - ₹211 | 72.58 % | ₹3045.0 M - ₹3212.5 M | RHP DOC |
EMS IPO SUBSCRIPTION STATUS
12 Sep '23EMS IPO overall subscription rate was 75.28 times the total available shares
EMS IPO retail subscription rate was 29.78 times in the retail segment
EMS IPO non-institutional investor subscription rate was 82.32 times in the non-institutional investor category
EMS IPO Qualified Institutional Bidder subscription rate was 153.02 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
- | - | - | - |
12 Sep 2023 (Day 4) | 29.78x | 82.32x | 153.02x |
11 Sep 2023 (Day 3) | 16.56x | 29.7x | 0.67x |
08 Sep 2023 (Day 2) | 4.77x | 5.98x | 0.09x |
EMS FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 1,086.7 | 5,381.6 | -254.0 | -332.8 | 27.7% |
| FY22 | 789.3 | 3,598.5 | 226.4 | 145.8 | 31.3% |
| FY21 | 719.1 | 3,307.0 | 357.7 | 274.8 | 29.9% |
EMS IPO SUBSCRIPTION STATUS DETAILS
EMS had 15.2 M shares on offer
EMS IPO offer price was in the range ₹200 - ₹211
EMS IPO minimum Investment was ₹14770
EMS IPO issue size was ₹ 3045.0 M - ₹ 3212.5 M
EMS had a minimum lot size of 70 Shares per application
EMS NUMBER OF SHARES ON OFFER
EMS IPO IMPORTANT DATES
| Issue Open Date | 08 Sep 2023 |
| Issue close Date | 12 Sep 2023 |
| Allotment Date | 15 Sep 2023 |
| Refund Date | 18 Sep 2023 |
| Demat Account Credit Date | 20 Sep 2023 |
| Listing Date | 21 Sep 2023 |
| Listing on Exchange(s) | NSE and BSE |
| EMS Allotment Status | Exchange |
EMS IPO subscription opened on 08 Sep 2023, and closed on 12 Sep 2023
IPO allotment for EMS was finalized on Friday, 15 Sep 2023
IPO listing for EMS was on NSE and BSE on Thursday, 21 Sep 2023
EMS IPO LISTING GAINS
| Issue Price (adjusted) | 211.0 |
| Listing Open Price | 282.1 |
| Listing Close Price | 279.9 |
| Listing Gain% | 33.7% |
| Current Gain% | 83.5% |
EMS Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EMS Ltd. | 387.1 | 2149.6 | 23.7 | -0.5 | 2.9 | 8.6 | 6.8 | 745 | -24.1 | 90.5 | -50.7 | 16.3 | -50.8 |
| Antony Waste Handling Cell Ltd. | 394.8 | 1120.4 | 19.2 | -0.6 | 1.1 | 10.2 | 4.3 | 1084.1 | 13.1 | 75.4 | -11.6 | 20.6 | -31.8 |
| Eco Recycling Ltd. | 457.8 | 883.3 | 36.8 | 7.1 | 16 | 20.9 | 17.2 | 52.8 | 14.1 | 23.1 | -64.9 | 12.4 | 5.2 |
| Concord Enviro Systems Ltd. | 262.8 | 543.9 | -76.6 | 0.7 | 1 | 3.4 | 2.1 | 585.7 | -2.3 | 19.8 | -61.6 | -3.4 | -111.8 |
| Hi-Green Carbon Ltd. | 136.1 | 340.1 | 99.1 | 3.8 | 2 | 141.3 | 43 | 3.4 | -69.2 | 1.4 | |||
| Organic Recycling Systems Ltd. | 240.3 | 185 | 7.4 | 20.4 | 11.9 | 105.7 | 116.9 | 25.1 | 59.6 | 32.6 |
EMS INFORMATION ON IPO ISSUE
About EMS
EMS, incorporated on December 21, 2010, operates in various sectors, including sewerage solutions, water supply systems, water and waste treatment plants, electrical transmission and distribution, road and allied works, and the operation and maintenance of wastewater and water supply scheme projects for government authorities and bodies.
Object of the Issue
- Funding of working capital requirements of the company
- General corporate purposes
EMS - PROMOTERS
| Name |
|---|
| Ram Veer Singh |
| Ashish Tomar |
EMS Book Running Lead Manager
Khambatta Securities Limited
ipo@khambattasecurities.com
EMS Registrar to the Offer
KFinTechnologies Private Limited
ems.ipo@kfintech.com
EMS Strengths
Strong execution capabilities
Since its inception, the company has successfully completed over 50 projects. It places a strong emphasis on utilizing its robust project management and execution capabilities to ensure the timely completion of projects while upholding stringent standards for engineering and execution quality
Robust order book
As of February 28, 2023, the company was actively managing 13 ongoing projects with a combined order book value of Rs 1,389.1 crore, along with five Operation and Maintenance (O&M) projects totalling an order book value of Rs. 99.3 crore
Scalable and asset-light business model
The company follows an asset-light business model, which efficiently utilizes capital, resulting in lower debt levels and consistent income. This approach enables the company to achieve a higher return on capital employed
EMS Risks
Certain legal proceedings
The company, its promoters/directors, and group companies are involved in various legal proceedings. An unfavourable outcome in these proceedings could significantly impact the business
Capital intensive
The company operates in a capital-intensive industry with long gestation periods, necessitating substantial financing for its operations
Dependent on government
A significant portion of the company's revenue is generated from business transactions with government entities or agencies
IPO FAQs
This IPO consists of an offer for sale of up to Rs 175.0 crore, of 8,294,118 shares. It also consists of a fresh issue of Rs 146.2 crore.
The promoters of the company are Ram Veer Singh and Ashish Tomar.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 200.0 - 211.0.
The IPO application opens on Sep 08, 2023 and closes on Sep 12, 2023.
The minimum lot size for the IPO is 70. The maximum lot size for the IPO is 910.
For all category investors, the minimum application amount for this IPO is Rs. 14,770.0, the maximum value for this IPO is Rs 192,010.0.
This IPO will be allotted on Sep 15, 2023.
The refund will be credited to your account on Sep 18, 2023.
The allotted shares will be credited to your demat on Sep 20, 2023.
EMS Ltd.’s shares listed on the stock exchanges on Sep 21, 2023.