EMS Limited IPO: Engineering-EPC Contractor company IPO to begin from September 08; Key Details here

Team Updater September 04, 2023

EMS Limited is into Engineering-EPC Contractor and is looking raise funds through Fresh Issue & Offer for Sale


IPO
Fig.1 - EMS Limited to raise around Rs 312 crores through public issue

EMS Limited IPO is a public offering of shares by Mr. Ramveer Singh and Mr. Ashish Tomar.. The IPO will open on September 08 and will close on September 12. The price band is ₹200 to ₹211 per share and the lot size is 70 shares. The issue size is ₹321.25 crore. The shares are expected to be listed on NSE, BSE on September 21 (^). Some additional information that you may find useful are: Company has done a pre-IPO placement amounting to Rs. 33.76 crores by issuing 16,00,000 shares at the price of Rs211 per share. Hence the fresh issue size has reduced by Rs. 33.76 crores.: (**) - based on higher price band (^) indicative date


Quick Pointers


  • Promoters of the company are Mr. Ramveer Singh and Mr. Ashish Tomar. Currently promoters hold 94.59% stake in the company.
  • Company aims to raise between Rs 312 to 321 crs through this IPO.
  • The net proceeds of the issue will be utilized to 1) Funding of Working Capital requirements to the tune of Rs. 101.24 and and 2) General corporate purpose
  • Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 07-Sep-23.
  • Price band for the IPO has been fixed at Rs 200 to 211 per share and bid lot are in multiple of 70 shares. The implied market cap post-issue at Rs 1,118 to 1,172 crs.
  • As per the tentative schedule, allotment date of this IPO is most likely on September 15 and share are expected to be listed on NSE, BSE on September 21.
  • Company has direct competition in the Engineering EPC space. In listed peers it is competing with VA Tech Wabag amongst others.
  • Khambatta Securities has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.

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IPO Quick Snapshot


About Company

EMS Limited established in 2010 is into Engineering, Procurement and Construction (EPC) in Infrastructure development related segments. It is Sewerage solution provider, Water Supply System, Water and Waste Treatment Plants, Electrical Transmission and Distribution, Road and Allied works, operation and maintenance of Wastewater Scheme Projects (WWSPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies. Company bids for tenders issued by CPWD, State Governments and Urban Local Bodies (“ULBs”) for developing WWSPs and WSSPs on EPC or HAM basis. It has a in-house team of 57 engineers for designing, engineering and construction. As on Feb'23, operating 13 projects & 5 O&M projects spread across more than five states.

About Industry

Roads and Highway Industry Overview: With a total 63.72 lakh kilometres (kms) of road network, India ranks second in the world after USA. This road network supports movement of 60% of freight traffic in the country and 87% of the total India’s passenger traffic.

Construction Sector: The construction sector contributed around 8% to the national GVA (at constant price) in FY22. Increase in Infrastructure demand & Government initiatives shows the potential for catapulting India to the third largest construction market globally.

Water and Wastewater Industry: It is expected that by 2050, about 1450 km3 of water will be required out of which approx. 75% will be used in agriculture, ~7% for drinking water, ~4% in industries, ~9% for energy generation. According to the by Central Pollution Control Board (CPCB), the estimated wastewater generation was almost 39,600 million litres per day (MLD) in rural regions, while in urban regions it was estimated to be 72,368 MLD for the year 2020-21. The estimated volume is double in the urban cities is almost double than that of the rural regions because of the availability of more water for sanitation which has increased standard of the living.


Promoters of the company are Narendra Joharimal Goliya Currently promoters hold 80.67% stake in the company.

IPO Key Details:


IPO Dates


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IPO Issue and Subscription Details


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IPO Registrar and Transfer Agent (RTA) Details


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Source: DRHP, RHP, Company, Company Website, Industry | Logo/Images published in the article may be copyright of respective companies.

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