EMA Partners India SME IPO: Opening on January 17, Aiming to Raise Rs 76 Crore
In a bid to raise funds, Mumbai-based EMA Partners India has announced an initial public offering (IPO) on the NSE’s Emerge platform, set to open for public subscription on January 17. The company aims to raise an impressive Rs 76 crore through this offering, with a price band of Rs 117-124 per share, concluding on January 21. This move marks a significant milestone for the company as it looks to expand and strengthen its position in the market.
Bidding Opens for Anchor Investors on January 16
As part of the IPO process, bidding for anchor investors will commence on January 16, providing an exclusive opportunity for strategic investors to acquire shares ahead of the public offering. At the upper end of the price band, EMA Partners India is poised to raise around Rs 76.01 crore, a testament to the confidence and interest in the company’s growth prospects.
Utilization of Proceeds and Company Background
According to the red herring prospectus (RHP) filed on January 9, the IPO consists of a fresh issue of up to 53.34 lakh equity shares, amounting to Rs 66.14 crore, along with an offer for sale component of up to 7.96 lakh shares by promoters Krishnan Sudarshan and Subramanian Krishnaprakash. A public shareholder, Shekhar Ganapathy, will also be divesting shares in the company. The funds raised will be utilized for various purposes, including augmenting the leadership team, upgrading IT infrastructure, debt repayment, and potential acquisitions.
EMA Partners India Ltd, established in 2003 as Executive Management Associates India Pvt Ltd, has emerged as a prominent executive search firm providing tailored leadership hiring solutions across diverse sectors. With a focus on domestic and international clients, the company, along with its subsidiaries, offers comprehensive white-collar hiring services from entry-level positions to senior leadership roles.
As the IPO on the SME platform of NSE Emerge unfolds, investors can look forward to participating in the growth story of EMA Partners India, a company committed to excellence and innovation in the executive search industry. Stay tuned for more updates as the offering progresses.