EMS Limited, earlier known as EMS Infracon Private Limited, a Delhi National Capital Region (NCR) based company has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company is making its first public offer to raise funds through an initial public offering (IPO) for a fresh issue of equity shares worth up to Rs. 180 crores ($ 21.9 million) and an offer-for-sale (OFS) of up to 82.94 lakh shares by the promoter of the company, Ramveer Singh. At present, Singh holds a 97.81 per cent stake in the company.
The company, EMS Limited, is engaged in the business of sewerage and allied works, water and waste treatment plants, road and allied works including construction of new road networks as well as repair and renovation, electrical transmission and distribution, construction of buildings and allied works, and building, operation and maintenance of public infrastructure facilities & utilities.
The company may consider a pre-IPO placement of up to Rs. 60 crore and in the event of such placement, the number of equity shares will be reduced from the issue.
Legacy Law Offices LLP has acted as legal advisor to the issue and the transaction team comprises Gagan Anand (Managing Partner), Shalini Munjal (Co-Managing Partner), Amarendra Gogoi (Partner), Shikha Vohra (Associate Advocate), and Nandish Munjal (Associate Advocate).
Khambatta Securities Limited, KFin Technologies Limited, and M/s. Rishi Kapoor & Co. acted as Book Running Lead Manager, Registrar and Statutory & Peer Review Auditor to the issue respectively.