EMA Partners India on Saturday said that it is planning to raise Rs 76 crore through its maiden offering on the NSE’s Emerge platform. The initial public offering (IPO) will open for the public on January 17, 2025 and the subscription window for the issue will close on January 21, 2025.
The issue has been priced in the range of Rs 117 to Rs 124 apiece. Anchor investors will be able to place bids for the issue on January 16, a day ahead of the IPO, reported PTI.
The firm intends to raise nearly Rs 76.01 crore, at the upper end of the price band. The shares of the company are expected to be listed on the Small and Medium Enterprises (SME) platform of NSE Emerge. Investors can place their bids for a minimum of 1,000 shares and in multiples of thereafter.
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The maiden offering is made up of a fresh issuance of up to 53.34 lakh equity shares, coming up to Rs 66.14 crore and an offer-for-sale (OFS) of around 7.96 lakh shares. The OFS is being provided by promoters Subramanian Krishnaprakash and Krishnan Sudarshan, the red herring prospectus (RHP) of the firm revealed.
The official document revealed that the firm intends to utilise the funds raised from the issue to augment the leadership team for the company and its subsidiaries. Further, funds would also be allocated to see the capital expenditure regarding the existing IT infrastructure and debt repayments.
The sole book-running lead manager of the issue is Indorient Financial Services, while Bigshare Services has been named the registrar of the IPO.
Set up in September 2003, the company was called the Executive Management Associated India Pvt Ltd. It was incorporated by Krishnan Sudarshan as the chairman and MD, and Subramanian Krishnaprakash.
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