IPO
HR-tech co. EMA Partners India’s IPO oversubscribed 206 times
The initial public offer (IPO) of Mumbai-based EMA Partners received 206 times subscription. The initial share sale received bids for INR 90.15 crore shares against INR 4,38,400 lakh shares on offer. The price band of the issue was fixed at INR 117-124 per share.The firm had earlier raised INR 21.65 crore from anchor investors, including WhiteOak Capital and Saint Capital Fund.The retail individual investors (RIIs) portion received 167.29 times subscription. The non-Institutional investors (NIIs) segment got subscribed 444.42 times and the qualified institutional buyers (QIBs) part received 147.69 times subscription.The IPO is a fresh issue of 53.34 lakh equity shares, aggregating INR 66.14 crore and an offer for sale component of 7.96 lakh shares by promoters -- Krishnan Sudarshan and Subramanian Krishnaprakash. Shekhar Ganapathy, a public shareholder, will also offload shares in the company. The promoters and promoter group of EMA Partners own 86.14% stake in the firm, while public shareholders hold the rest.The company, along with its subsidiaries in India, Dubai and Singapore, cover the entire spectrum of white-collar hiring right from entry-level opportunities to senior leadership.The proceeds will be used by the company for capital expenditure in IT infrastructure and for debt repayment. The funds will also be used for acquisitions.
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