Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • Bitcoin USD

    63,836.68
    +916.90 (+1.46%)
     

  • CMC Crypto 200

    1,346.89
    -49.65 (-3.56%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • Dow

    38,239.66
    +153.86 (+0.40%)
     

  • Nasdaq

    15,927.90
    +316.14 (+2.03%)
     

  • Gold

    2,349.60
    +7.10 (+0.30%)
     

  • Crude Oil

    83.66
    +0.09 (+0.11%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

EMS Ltd debuts strong on Indian bourses, despite weak market conditions

Investing.com
·2-min read

EMS Ltd made a notable debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Thursday, September 21, 2023. The company's shares listed at ₹282.05 per share on the NSE and ₹281.55 per share on the BSE, marking a premium of approximately 33% over its initial public offering (IPO) price of ₹211 per share.

The listing day saw the EMS share price opening at ₹282.05 on NSE and at ₹281.55 on BSE, delivering over 33% listing gain to the allottees, despite the Indian stock market extending its slide for the third day in a row. By 11:55 AM, the stock was trading at ₹281.2 on the NSE and ₹281.4 on the BSE.

The company's IPO was open for bidding between September 8 to September 12, raising ₹321.24 crore from the primary markets by offering shares in a fixed price band of ₹200-211 per share. The issue was subscribed 76.21 times overall, with qualified institutional bidders (QIBs) oversubscribing their allotment by 149.98 times, non-institutional investors subscribing at a rate of 84.39 times, and retail investors subscribing 30.55 times their allocation.

Despite the strong listing performance, EMS witnessed a slightly softer debut than anticipated as it had commanded a premium of ₹85-90 in the grey market a day before its official listing.

ADVERTISEMENT

Post-listing insights were provided by Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd., who commended EMS Limited's debut in a challenging market environment. "The company's strong fundamentals and good subscription levels were positive factors," Mishra said.

As for investor strategy, Prashanth Tapse, Senior Vice President — Research at Mehta Equities, suggested that EMS share allottees should book profit and exit due to weak stock market sentiments. However, those with a long-term view could re-enter once the market stabilizes.

Mahesh M. Ojha, AVP - Research and Business Development at Hensex Securities, echoed Tapse's views, advising investors to book at least 50% profits on the listing day itself. The rest, he added, could be kept on hold for medium to long-term investment.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Related Articles

EMS Ltd debuts strong on Indian bourses, despite weak market conditions

Midea Group plans billion-dollar IPO in Hong Kong

Seaport Research upgrades Enphase Energy stock to 'Buy' amid solar industry recovery anticipation