EMA Partners India SME IPO to open on January 17; 76 crore raised

Mumbai-based EMA Partners India on Saturday said it will raise Rs. 76 crore, which will open for public subscription on January 17. Rs. The issue will close on January 21 with a price band of 117-124. Bidding for anchor investors will open for one day on January 16, the company said in a statement.

At the upper end of the price band, the company sells around Rs. 76.01 crore will be collected.

The company’s shares are proposed to be listed on NSE Emerge’s Small and Medium Enterprises (SME) platform. Investors can bid for a minimum of 1,000 shares and multiples thereof, it added.

The initial public offering (IPO) is a fresh issue of up to 53.34 lakh equity shares, totaling Rs. 66.14 crore and an offer of sale component of up to 7.96 lakh shares by the promoters – Krishnan Sudarshan and Subramaniam Krishnaprakash, the red herring prospectus (RHP) was filed on 9 January.

Shekhar Ganapathy, a public shareholder, will also offload shares in the company.

The promoters and promoter group of EMA Partners hold 86.14 per cent stake, while public shareholders hold 13.86 per cent stake.

According to the RHP, the company will move towards capital expenditure and debt repayment to upgrade the existing IT infrastructure, increase the leadership team for the company and its subsidiaries.

The funds will also be used for general corporate purposes and undisclosed inorganic acquisitions.

EMA Partners India Limited claims to be one of the leading executive search firms providing customized leadership hiring solutions to a wide range of clients across diverse sectors. The company has recruited many business and operational leaders for domestic and international clients.

The company, along with its subsidiaries including James Douglas Professional Search India and MyCloud, covers the entire spectrum of white-collar hiring from entry-level opportunities to senior leadership.

Incorporated in September 2003 as Executive Management Associates India Pvt Ltd by Krishnan Sudarshan (Chairman & MD) and Subramaniam Krishnaprakash. Later, the company was renamed as EMA Partners India.

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