EMS Limited’s order book touches `1,500cr
It will focus on securing more government contracts that have support from global funding agencies
image for illustrative purpose
New Delhi Sewage solution provider EMS Limited on Wednesday said it currently has an order book of nearly Rs 1,500 crore and will focus on securing more government contracts that have support from global funding agencies like World Bank.
In March, EMS had filled draft papers with Sebi to raise funds through an initial public offering. The IPO includes a fresh issue of equity shares worth Rs 180 crore and an offer for sale of 82.94 lakh shares by promoter Ramveer Singh. The company will use the proceeds from the issue to meet working capital requirements. Ashish Tomar, Managing Director of EMS Ltd, said almost all of the company's projects are World Bank-funded through local state government bodies. The National Mission for Clean Ganga, the Jal Jeevan Mission, and Community Drinking Water Scheme are just a few of the initiatives that the government is expected to further support, the company said and added this will result in a larger order pipeline for local and national businesses operating in these specialised sectors.
"We have completed more than 50 projects in the past, and currently we are executing 13 ongoing projects aggregating into an order book of Rs 1,389.09 crore...Apart from this, we are also executing 5 O&M projects worth Rs 99.28 crore in Rajasthan, Uttar Pradesh, Himachal Pradesh, Bihar, Mumbai, and Uttarakhand," Tomar said.
