EMS Ltd. makes a strong debut on the bourses with scrip got listed at Rs 281.55 on the Bombay Stock Exchange, a 33.43 per cent premium to its issue price of Rs 211.00. On the National Stock Exchange, the stock was listed at Rs 0.00.
The company, which raised 1.52 Cr from initial public offering, was subscribed 53.78 times, receiving bids for 8,187.96 lakhs shares against the total issue size of 152.25 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Sep 08 to Sep 12.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.
The company anticipates using the proceeds of the issue for i Funding of working capital requirements of the Companyii General corporate purposes.
Khambatta Securities Ltd. as lead managers & KFin Technologies Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 66,800.84, down 796.00 points, or 1.17 per cent.