 "SJVN")
Shares of EMS, a civil construction company, gained nearly 33 per cent over their issue price during their stock market debut on Thursday. Its stock closed at Rs 280, up Rs 69 over the issue price of Rs 211.
At the last close, EMS was valued at Rs 1,553 crore.
The good listing follows strong demand for the company's shares during its maiden share sale, which was subscribed nearly 75 times. EMS, previously known as EMS Infracon, is into wastewater collection, treatment, and disposal services.
SJVN share sale oversubscribed
State-owned SJVN’s offer for sale (OFS) garnered more bids than shares on offer on Thursday. The government has put on the block 193.3 million shares (4.92 per cent) stake in the hydroelectric power generation company against which it received bids for over 204 million shares.
Shares of SJVN, however, dropped nearly 13 per cent in the secondary market trading to close at Rs 71.2. The floor price for the OFS has been set at Rs 69 per share. Shares of SJVN have more than doubled so far this calendar year.
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SignatureGlobal offer subscribed 1.6 times
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