EMS plans to raise Rs 321.24 crore through initial public offering. The subscription for the IPO will be open from September 8 to September 12, 2023. The price band is fixed at Rs 200–211 per share with a face value of Rs 10 apiece.
The IPO comprises fresh issue of shares worth Rs 146.24 crore and offer for sale of shares totalling Rs 175 crore. The lot size is set at 70 shares per lot.
Company Summary
EMS Limited is in the business of Sewerage Solution, Water Supply System, Water and Waste Treatment Plants, Electrical Transmission and Distribution, Road and Allied works, operation and maintenance of Waste Water Scheme Projects (WWSPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies.
WWSPs include Sewage Treatment Plants (STPs) along with Sewage Network Schemes and Common Effluent Treatment Plants (CETPs) and WSSPs include Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for supply of water (collectively, “Projects”).
The company offers services ranging from designing and engineering projects, procuring raw materials, executing projects at the site, managing overall projects, and commissioning projects. After commissioning projects, operations and maintenance of these plants for a certain period is a part of the agreement in recent times.
The company has a team of 61 engineers, who are supported by third-party consultants and industry experts to ensure compliance and quality standards laid down by the industry and government agencies. The company has its own team for civil construction works, thereby reducing dependence on third parties.
Since the company’s incorporation in 2012, EMS has completed 67 projects. As on July 31, 2023, the company is operating and maintaining 18 projects including WWSPs, WSSPs, STPs & HAM aggregating to Rs 1744.92 crore and five O&M projects aggregating to Rs 99.28 crore.
Company Strengths
- Highly skilled in-house designing, engineering and execution team.
- Strong order book of projects across India.
- Expertise in project management capabilities to complete projects in a timely manner.
- Well-established industry experience with robust execution capabilities.
- Experienced promoters and management team.
- Scalable and asset light business model as well as strong financial performance for the last three years.
Company Financials
Period Ended | FY23 | FY22 | FY21 |
Total Assets (Rs in crore) | 638.72 | 502.55 | 378.31 |
Total Revenue (Rs in crore) | 543.28 | 363.1 | 336.18 |
EBITDA (Rs in crore) | 145.99 | 112.51 | 98.9 |
EBITDA Margin | 27.69% | 31.27% | 29.91% |
Profit After Tax (Rs in crore) | 108.61 | 79.05 | 71.95 |
PAT Margin | 20.18% | 21.97% | 21.76% |
ROCE | 28.26% | 29.50% | 33.65% |
ROE | 22.27% | 20.79% | 23.83% |
Debt to Equity ratio | 0.09 | 0.01 | 0.01 |
Purpose of the IPO
- The proceeds from offer for sale of shares will go to the respective promoter selling shareholders after deduction of issue expenses and relevant taxes.
- The net proceeds from fresh issue of shares will be utilised for funding working capital requirements of the company aggregating up to Rs 101.24 crore, and general corporate purposes.
Company Promoters
Ramveer Singh and Ashish Tomar are the promoters of the company.
IPO Details
IPO Subscription Date | September 8 to September 12, 2023 |
Face Value | Rs 10 per share |
Price Band | Rs 200 to Rs 211 per share |
Lot Size | 70 Shares |
Total Issue Size | Rs 321.24 crore |
Fresh Issue | Shares worth Rs 146.24 crore |
Offer for Sale | 82,94,118 equity shares aggregating up to Rs 175 crore |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount |
Retail (Minimum) | 1 | 70 | Rs 14,770 |
Retail (Maximum) | 13 | 910 | Rs 1,92,010 |
Small HNI (Minimum) | 14 | 980 | Rs 2,06,780 |
Small HNI (Maximum) | 67 | 4,690 | Rs 9,89,590 |
Large HNI (Minimum) | 68 | 4,760 | Rs 10,04,360 |
Allotment Details
Event | Date |
Allotment of shares | September 15, 2023 |
Initiation of Refunds | September 18, 2023 |
Credit of Shares to Demat Account | September 20, 2023 |
Listing Date | September 21, 2023 |
To check allotment, click here