EMA Companions India SME IPO to open on January 17; increase Rs 76 crore

NEW DELHI: Mumbai-based EMA Companions India on Saturday mentioned it’s seeking to increase Rs 76 crore on the NSE’s Emerge platform by an preliminary public providing, which is able to open for public subscription on January 17. The difficulty with a value band of Rs 117-124 apiece will conclude on January 21. The bidding for anchor buyers will open for a day on January 16, the corporate mentioned in a press release.
On the higher finish of the worth band, the corporate will increase about Rs 76.01 crore.
The shares of the corporate are proposed to be listed on the Small and Medium Enterprises (SME) platform of NSE Emerge. Buyers can bid for at least 1,000 shares and in multiples thereof, it added.
The preliminary public providing (IPO) is a contemporary subject of as much as 53.34 lakh fairness shares, aggregating as much as Rs 66.14 crore and a proposal on the market part of as much as 7.96 lakh shares by promoters — Krishnan Sudarshan and Subramanian Krishnaprakash, in line with the purple herring prospectus (RHP) filed on January 9.
Shekhar Ganapathy, a public shareholder, may even offload shares within the firm.
The promoters and promoter group of EMA Companions personal an 86.14 per cent stake, whereas public shareholders maintain 13.86 per cent.
As per the RHP, the corporate will utilise proceeds in the direction of augmenting the management staff for the corporate and its subsidiaries, capital expenditure in the direction of upgrading the prevailing IT infrastructure and debt reimbursement.
Funds may even be used for normal company functions and unidentified inorganic acquisitions.
EMA Companions India Ltd claims to be one of many main govt search companies delivering customised management hiring options to a variety of purchasers throughout various sectors. The corporate has recruited a number of enterprise and useful leaders for home and worldwide purchasers.
The corporate, together with its subsidiaries, together with James Douglas Skilled Search India and MyRCloud, cowl all the spectrum of white-collar hiring proper from entry-level alternatives to senior management.
Included in September 2003 as Govt Administration Associates India Pvt Ltd by Krishnan Sudarshan (Chairman and MD) and Subramanian Krishnaprakash. Later, the corporate was renamed as EMA Companions India.
Indorient Monetary Companies is the only real e book working lead supervisor whereas Bigshare Companies is the registrar for the IPO.