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The shares of EMA Partners India are proposed to be listed on the Small and Medium Enterprises (SME) platform of NSE Emerge. Investors can bid for a minimum of 1,000 shares and in multiples thereof.
EMA Partners India IPO.
Mumbai-based EMA Partners India on Saturday said it is looking to raise Rs 76 crore on the NSE’s Emerge platform through an initial public offering, which will open for public subscription on January 17. The issue with a price band of Rs 117-124 apiece will conclude on January 21. The bidding for anchor investors will open for a day on January 16, the company said in a statement.
At the upper end of the price band, the company will raise about Rs 76.01 crore.
The shares of the company are proposed to be listed on the Small and Medium Enterprises (SME) platform of NSE Emerge. Investors can bid for a minimum of 1,000 shares and in multiples thereof, it added.
The initial public offering (IPO) is a fresh issue of up to 53.34 lakh equity shares, aggregating up to Rs 66.14 crore and an offer for sale component of up to 7.96 lakh shares by promoters — Krishnan Sudarshan and Subramanian Krishnaprakash, according to the red herring prospectus (RHP) filed on January 9.
Shekhar Ganapathy, a public shareholder, will also offload shares in the company.
The promoters and promoter group of EMA Partners own an 86.14 per cent stake, while public shareholders hold 13.86 per cent.
As per the RHP, the company will utilise proceeds towards augmenting the leadership team for the company and its subsidiaries, capital expenditure towards upgrading the existing IT infrastructure and debt repayment.
Funds will also be used for general corporate purposes and unidentified inorganic acquisitions.
EMA Partners India Ltd claims to be one of the leading executive search firms delivering customised leadership hiring solutions to a wide range of clients across diverse sectors. The company has recruited several business and functional leaders for domestic and international clients.
The company, along with its subsidiaries, including James Douglas Professional Search India and MyRCloud, cover the entire spectrum of white-collar hiring right from entry-level opportunities to senior leadership.
Incorporated in September 2003 as Executive Management Associates India Pvt Ltd by Krishnan Sudarshan (Chairman and MD) and Subramanian Krishnaprakash. Later, the company was renamed as EMA Partners India.
Indorient Financial Services is the sole book running lead manager while Bigshare Services is the registrar for the IPO.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
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