The Initial Public Offer of Emmbi Polyarns has been subscribed 1.2 times as per the latest information available on the stock exchanges today, when the issue closed.
Emmbi Polyarns entered the capital markets on February 1 with an IPO of 95, 74,000 equity shares of Rs. 10/- each at a price band of Rs. 40/- to Rs. 45/-. The net issue to public constituted 54.72% of the fully diluted post issue paid up capital of the company.
Emmbi Polyarns is looking to expand its facility to increase the present installed capacity from 5,000 MTPA to 17,800 MTPA. The expansion project is proposed to be located at Silvassa in the Union Territory of Dadra & Nagar Haveli. The company would require 20,000 sq. meters of land for its present expansion, of which about 5,000 sq. meters (Phase I) would be on the existing land owned by the company and about 15,000 sq. meters (Phase II) would be through new acquisition. Emmbi also proposes to construct 75,000 sq. ft. of new manufacturing building for the proposed project.
Keynote Corporate Services Ltd. is the BRLM to the issue.
