EMA Partners India shares debut at strong 26% premium on NSE SME, hit 5% lower circuit after listing

EMA Partners India share price made a strong debut listing at a 26% premium at ₹156.50 on the NSE SME on Friday, January 24. However, EMA Partners India share price declined by 5% post-listing to ₹148.70 levels, which is its lower price band. 

EMA Partners Listing Expectations

EMA Partners India's IPO subscription status and the grey market premium (GMP) indicated strong listing expectations from investors.

EMA Partners IPO, which opened for subscription on January 17, was subscribed 221.06 times as of the last subscription day of the IPO on January 21. The public issue was subscribed 167.35 times in the retail category, 147.69 times in the QIB category, and 444.08 times in the NII category.

EMA Partners IPO GMP had stood at +64. This meant that EMA Partners India shares were available in the grey market at a premium of ₹64 over the issue price. At that level, investors were anticipating the stock to list at ₹182, a 51.61% premium over the upper band of the issue price of ₹124.

EMA Partners IPO price band had been set at ₹117 to ₹124 per share. 

EMA Partner India IPO Details

EMA Partners IPO was a book-built issue of ₹76.01 crore, comprising of a combination of a fresh issue of 53.34 lakh shares aggregating to ₹66.14 crore and an offer for sale of 7.96 lakh shares aggregating to ₹9.87 crore.

EMA Partners intended to use the proceeds from the fresh issue of shares towards the augmenting leadership team for the company and its subsidiaries, capex for upgrading the existing IT infrastructure of the company as well as its subsidiaries. Additionally, some part of the proceeds will be utilised for repayment and pre-payment, in full, of the borrowing availed by the company for purchase of office premises and the remaining for general corporate purposes and exploring inorganic growth through acquistions.

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