EMS Ltd shares jump nearly 33 pc in debut trade

Shares of water and sewerage infra solutions player EMS Ltd on Thursday ended with a premium of nearly 33 per cent against the issue price of Rs 211. Shares of the company ended at Rs 279.75, climbing 32.58 per cent. The stock ended at Rs 278.90, a jump of 32.18 per cent.

Shares of water and sewerage infra solutions player EMS Ltd on Thursday ended with a premium of nearly 33 per cent against the issue price of Rs 211. The stock made its debut at Rs 281.55, registering a jump of 33.43 per cent on the BSE. During the day, it rallied 37.84 per cent to Rs 290.85. Shares of the company ended at Rs 279.75, climbing 32.58 per cent. At the NSE, it began the trade at Rs 282.05, up 33.67 per cent. The stock ended at Rs 278.90, a jump of 32.18 per cent. The company commanded a market valuation of Rs 1,553.47 crore.

In traded volume terms, 18.21 lakh shares of the company were traded at the BSE and over 2 crore shares at the NSE during the day.

The Initial Public Offering (IPO) of EMS Ltd was subscribed 75.28 times on the final day of subscription on September 12, with heavy participation from institutional buyers.

The price range for the offer was Rs 200-211 per share. The IPO had a fresh issue of up to Rs 146.24 crore and an offer for sale of up to 82,94,118 equity shares. The company offers water and sewerage infra solutions, including laying the sewerage network to build treatment plants in Uttar Pradesh, Bihar, Uttarakhand and Rajasthan.

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