Energy Mission Machineries makes robust debut with 165% premium on the NSE

Shares of Energy Mission Machineries India made a great start on its market debut after listing at ₹366. The shares were listed at a premium of 165.21% over the issue price of ₹138 on the NSE platform.

The Energy Mission Machineries IPO received a robust response during its IPO period. The ₹41 crore public offer consisted of 29.82 lakh fresh issues and was subscribed 320.67 times by on the last date of IPO. Qualified Institutional Buyers (QIBs) participated actively and subscribed 161.92 times. On the other hand, Non-institutional investors (NIIs) subscribed 605.19 times and showed a stronger interest. Retail investors also showed an overwhelming response subscribing 279 times of the issue.

EMML is a leading player in designing and manufacturing a comprehensive range of metal making machines. The company aims to cater to various industrial needs, plate rolling equipment, ironworkers, encompassing press brakes, hydraulic presses and specialised machines for bending, cutting, and punching.

The funds raised from the IPO will be used towards capital expenditure for civil construction work at its existing manufacturing unit in Sanand, Ahmedabad, Gujrat. Moreover, the other funds will be allocated for the installation of new plants and machinery to boost the production capability of the company. Furthermore, the company aims to utilise the funds to meet working capital requirements and address the corporate purposes.