The listing date for the EMS Limited initial public offering (IPO) has been scheduled for September 21, 2023. As per information available on the BSE website, “effective from Thursday, September 21, 2023, the equity shares of EMS LIMITED shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.”
EMS shares are set to make their debut on Dalal Street in a special pre-open session during Thursday’s trading, with trading in EMS shares commencing at 10:00 AM on Thursday.
Market experts have noted that the EMS IPO was reasonably priced and received a strong response from various categories of investors. They anticipate that EMS share prices may open at approximately a 40 percent premium. However, the actual listing price will be influenced by the overall sentiment in the Indian stock market during the morning trading session. In a bullish scenario, EMS IPO’s listing price could range from ₹315 to ₹325 per share, while in a bearish scenario, it could be around ₹285 to ₹295 per share.
Prashanth Tapse, Senior Vice President — Research at Mehta Equities, expects a strong listing gain in the range of 40-42 percent from the issue price of ₹211 apiece for EMS shares. He believes that this premium listing is justified due to EMS IPO’s reasonable valuations, healthy revenue visibility of 3.2 times FY2023 revenue, and a positive industry outlook.
Arun Kejriwal, Founder at Kejriwal Research and Investment Services, and Ravi Singhal, CEO at GCL Broking, echo similar sentiments, emphasizing that the market sentiment during the morning trading session will play a crucial role in determining the listing price. They estimate listing prices ranging from ₹285 to ₹325 per share, depending on market conditions.
In the grey market, EMS Limited shares are currently trading at a premium of ₹90, indicating a grey market premium (GMP) of ₹90. This suggests that the grey market expects EMS IPO’s listing price to be around ₹301 (₹211 + ₹90), representing a nearly 42 percent increase from the IPO’s price band of ₹200 to ₹211 per equity share.
