EMS IPO opens today: Here's what brokerage firms suggest about the issue

The Rs 321 crore initial public offering (IPO) of EMS Limited will kick-off for bidding on Friday, September 8 and the issue can be bid till Tuesday September 12. The wastewater treatment player is selling its shares in range of Rs 200-211 apiece with a lot size of 70 equity shares and its multiples thereof. EMS are operating and maintaining 18 projects including WWSPs, WSSPs, STPs and HAM aggregating of Rs. 1,744.92 crore & 5 O&M projects aggregating to Rs. 99.28 crore. Strong order book of projects across India, established track record, strong execution capabilities, and strong financial performance, said Hensex Securities with a 'subscribe' rating on the issue. However, it has cited heavy dependence on Government projects, the reported certain negative cash flows, and capital intensive nature of the company as the key risks for the company.

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