{"id":64540,"date":"2023-09-23T09:56:08","date_gmt":"2023-09-23T13:56:08","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/ems-ltd-debuts-strong-on-indian-bourses-despite-weak-market-conditions\/"},"modified":"2023-09-23T09:56:11","modified_gmt":"2023-09-23T13:56:11","slug":"ems-ltd-debuts-strong-on-indian-bourses-despite-weak-market-conditions","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=64540","title":{"rendered":"EMS Ltd debuts strong on Indian bourses, despite weak market conditions"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

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 \u20b9282.05 per share on the NSE and \u20b9281.55 per share on the BSE, marking a premium of approximately 33% over its initial public offering (IPO) price of \u20b9211 per share.<\/p>\n

The listing day saw the EMS share price opening at \u20b9282.05 on NSE and at \u20b9281.55 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 \u20b9281.2 on the NSE and \u20b9281.4 on the BSE.<\/p>\n

The company’s IPO was open for bidding between September 8 to September 12, raising \u20b9321.24 crore from the primary markets by offering shares in a fixed price band of \u20b9200-211 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.<\/p>\n

Despite the strong listing performance, EMS witnessed a slightly softer debut than anticipated as it had commanded a premium of \u20b985-90 in the grey market a day before its official listing.<\/p>\n

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.<\/p>\n

As for investor strategy, Prashanth Tapse, Senior Vice President \u2014 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.<\/p>\n

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.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. 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 \u20b9282.05 per share on the NSE and \u20b9281.55 per share on the BSE, marking a premium of approximately 33% over its initial public offering (IPO) price […]<\/p>\n","protected":false},"author":1,"featured_media":3353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-64540","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nEMS Ltd debuts strong on Indian bourses, despite weak market conditions | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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