EMS Board Approves Fundraise Of Up To Rs 400 Crore Through QIP
The share price has risen 191.98% in the last 12 months and 92.57% on a year-to-date basis on the NSE.
(Image by Josue Isai Ramos Figueroa on Unsplash)
The board of directors of EMS Ltd. approved on Thursday a proposal to raise funds of up to Rs 400 crore at a face value of Rs 10 per share through a qualified institutional placement. The company will raise the funds in one or more tranches, subject to approval from the shareholders, according to an exchange filing.
Earlier, in a conversation with NDTV Profit, Ashish Tomar, managing director of the firm, highlighted that the company is on track to maintain margins in the range of 24–25% in the current financial year despite diversification.
"For FY25, revenue is going to grow by somewhat around 30–35% over the previous year. The overall margins, percentage wise, will remain in the same range as the previous year," Tomar said.
Shares of EMS closed 8.09% higher at Rs 815.40 apiece in the BSE, compared to a 0.29% rise in the benchmark Sensex. The stock has risen 191.98% in the last 12 months and 92.57% on a year-to-date basis on the NSE.
