EMA Partners India Achieves 206 Times Subscription for SME IPO on Last Bidding Day

The initial public offering (IPO) of EMA Partners India, based in Mumbai, saw an overwhelming response, being subscribed 206 times on the final day of bidding. According to NSE data, the IPO received bids for 90.15 crore shares compared to the 43.84 lakh shares available. The IPO price range was set between Rs 117 and Rs 124 per share.

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Retail investors showed significant interest, with their category being subscribed 167.29 times. Non-Institutional Investors (NIIs) subscribed 444.42 times, while Qualified Institutional Buyers (QIBs) saw a subscription rate of 147.69 times. The company had previously secured Rs 21.65 crore from anchor investors such as WhiteOak Capital and Saint Capital Fund.

IPO Details and Shareholding

The Rs 76.01-crore SME IPO of EMA Partners India is scheduled to be listed on the NSE's SME Emerge platform on January 24. This IPO includes a fresh issue of up to 53.34 lakh equity shares, amounting to Rs 66.14 crore, and an offer for sale of up to 7.96 lakh shares by promoters Krishnan Sudarshan and Subramanian Krishnaprakash.

Shekhar Ganapathy, a public shareholder, will also sell shares in the company. Currently, the promoters and promoter group hold an 86.14% stake in EMA Partners, while public shareholders own the remaining 13.86%. The funds raised will be used for various purposes including enhancing the leadership team and upgrading IT infrastructure.

Company Background and Future Plans

EMA Partners India Limited is a prominent executive search firm that provides tailored leadership hiring solutions across various sectors. The company has successfully recruited business and functional leaders for both domestic and international clients. It operates through subsidiaries in India, Dubai, and Singapore.

The company plans to use the IPO proceeds for capital expenditure, debt repayment, general corporate purposes, and potential acquisitions that are yet to be identified. EMA Partners was originally established in September 2003 as Executive Management Associates India Pvt Ltd by Krishnan Sudarshan and Subramanian Krishnaprakash.

The firm was renamed EMA Partners India Pvt Ltd on February 4, 2004. It covers a wide range of hiring needs from entry-level positions to senior leadership roles across different industries.