EMS Ltd made a fantastic debut on the bourses; as against the IPO price of Rs.211, it got listed on the BSE at Rs.281.55, a premium of 33%; it rose further to Rs.288 and is now trading at Rs.277 levels.
The IPO had received a great response, subscribing 75.28 times, with QIB portion taking the biggest share at 153x, followed by HNIs at 82.3x and Retail investors at 29.79x.
Ghaziabad headquartered EMS Limited constructs Sewerage Treatment Solutions, Water Supply Systems, Water and Waste Treatment Plants and other projects under Government Programmes such as Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Namami Gange. It also undertakes operation and maintenance (O&M) of these projects, currently executing contracts in Uttar Pradesh, Rajasthan, Bihar, Uttarakhand and Madhya Pradesh.
In our IPO Analysis, we had concluded - Healthy fundamentals coupled with extremely reasonable valuation makes the IPO an ‘apply’.