EMS Limited IPO opening today know gmp, price band and other details
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Through this IPO, the company’s promoter and founder Ranveer Singh will sell 82.94 lakh shares. He holds 97.81 percent stake in the company. The lot size of the company’s IPO is 70 shares. That means retail investors will have to invest at least Rs 14,770. The company has reserved 50 percent share in its IPO for QIB. At the same time, 15 percent is for non-institutional investors (NII) and the remaining 35 percent is for retail investors. Before the opening of the IPO, the company has raised Rs 96.37 crore from anchor investors.
How much is GMP running?
The company’s shares can be allotted to investors on September 15, 2023. The refund process will start on September 18. The shares will be credited to the Demat Account of successful investors on 20 September 2023. The company can be listed in the stock market the next day i.e. on 21st September. The company says that it will use the funds raised from the IPO for its working capital needs and general corporate purposes. The company’s unlisted shares are trading at a premium of Rs 125 in the gray market. That means the gray market is expecting it to be listed at Rs 336, which is about 60 percent more than its issue price.
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