Mumbai-based EMA Partners India announced on Saturday its plan to raise Rs 76 crore through an initial public offering (IPO) on the NSE Emerge platform.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The IPO will open for public subscription on January 17 and close on January 21. Anchor investor bidding will take place on January 16.

The issue is priced in a range of Rs 117 to Rs 124 per share. At the upper end of the price band, the company aims to raise approximately Rs 76.01 crore.

The shares are proposed to be listed on the SME platform of NSE Emerge. Investors can bid for a minimum of 1,000 shares and in multiples thereof.

The IPO comprises a fresh issue of up to 53.34 lakh equity shares, amounting to Rs 66.14 crore, and an offer for sale of up to 7.96 lakh shares by promoters Krishnan Sudarshan and Subramanian Krishnaprakash, as detailed in the Red Herring Prospectus (RHP) filed on January 9. Additionally, Shekhar Ganapathy, a public shareholder, will sell shares.

The promoters and promoter group currently hold an 86.14 per cent stake in the company, with the remaining 13.86 per cent held by public shareholders.

According to the RHP, the IPO proceeds will be utilized for strengthening the company’s leadership team and subsidiaries, upgrading IT infrastructure, repaying debt, funding general corporate expenses, and pursuing potential inorganic acquisitions.

Founded in September 2003 as Executive Management Associates India Pvt Ltd by Krishnan Sudarshan (Chairman and MD) and Subramanian Krishnaprakash, the company was later renamed EMA Partners India. It is a leading executive search firm, providing leadership hiring solutions for diverse sectors and recruiting talent for both domestic and international clients. Its subsidiaries, James Douglas Professional Search India and MyRCloud, extend services across white-collar hiring, from entry-level to senior leadership roles.

Indorient Financial Services is the sole book-running lead manager for the IPO, while Bigshare Services is the registrar.