EMA Partners is launching its IPO with a total issue size of ₹76.01 crore. The offering includes a fresh issue of 53.34 lakh shares, amounting to ₹66.14 crore, and an offer for sale of 7.96 lakh shares, aggregating to ₹9.87 crore. The IPO opened for subscription on January 17, 2025, and will close on January 21, 2025. The allotment is expected to be finalised on January 22, 2025, with listing on the NSE SME platform on January 24, 2025.
The IPO has a price band of ₹117 to ₹124 per share, with a minimum application lot size of 1,000 shares. Retail investors will need to invest a minimum of ₹1,24,000, while High Net-Worth Individuals (HNIs) must invest in at least two lots, amounting to ₹2,48,000.
Indorient Financial Services Ltd is acting as the book-running lead manager for the issue, with Bigshare Services Pvt Ltd as the registrar. Alacrity Securities Ltd is the market maker for the IPO. Interested investors are advised to refer to the RHP for detailed insights and relevant information.
Industry Outlook
- The Indian recruitment and staffing industry grew from ₹9,890 crore in FY 2018-19 to ₹12,430 crore in FY 2023-24, registering a CAGR of 5.9%. This highlights a growing demand for recruitment and HR outsourcing services, providing a significant opportunity for players across various categories, including leadership hiring, professional hiring, and general recruitment.
- Leadership hiring, comprising Board, C-Suite, and senior executives, accounts for 15% of the market, with a pool of 1.6 million professionals as of March 2024. These roles are critical for strategic decision-making, and their specialised nature ensures sustained demand despite representing a smaller market share.
EMA Partners India IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be utilised to augment the leadership teams for the company and its subsidiaries, ensuring strong strategic guidance and operational efficiency.
- Capital expenditure will focus on upgrading IT systems for the company and its subsidiaries to enhance operational capabilities and maintain technological competitiveness.
- The company aims to repay or prepay borrowings related to the purchase of office premises, improving its financial position and reducing interest obligations.
- The remaining portion of the funds will be allocated for general corporate purposes.
About EMA Partners India Limited
EMA Partners India Limited, founded on September 9, 2003, is a prominent executive search firm specialising in leadership hiring solutions. It operates across India, the Middle East, and Singapore, focusing primarily on recruiting for C-suite and board-level positions. The company’s expertise lies in matching global industry knowledge with local market insights, ensuring tailored solutions for its diverse clientele. Headquartered in Mumbai, it also has offices in Chennai, Gurgaon, and Bengaluru and a subsidiary in Singapore, established in 2010.
The company benefits from its membership in EMA Partners International Limited, a global network of executive search firms that promotes cross-border collaboration. Leveraging this association, the firm delivers unparalleled recruitment services, ensuring quality placements for its clients. The business model operates on a retained services basis, charging non-refundable fees tied to predefined milestones like candidate shortlisting or offer acceptance.
In addition to its executive search business, the company has diversified operations under the "James Douglas" brand, focusing on mid-to-senior level hiring, with subsidiaries in India and Dubai. A technology-driven recruitment platform, MyRCloud, caters to entry and middle-management roles using AI-powered tools for efficient talent acquisition.
How To Check the Allotment Status of the EMA Partners India IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for EMA Partners India IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the EMA Partners India IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of EMA Partners India IPO
Registered office: 204, The Summit Business Bay, Western Express
Highway, Vile Parle (East), Mumbai - 400057, Maharashtra, India.
Phone: +91 022-35008805
E-mail: s.smita@emapartners.com
EMA Partners India IPO Reservation
|
Investor Category |
Shares Offered |
|
Anchor Investor Shares |
17,46,000 (28.48%) |
|
Market Maker Shares |
3,07,000 (5.01%) |
|
QIB Shares |
11,64,000 (18.99%) |
|
NII (HNI) Shares |
8,74,000 (14.26%) |
|
Retail Shares |
20,39,000 (33.26%) |
EMA Partners IPO Anchor Investors Details
|
Bid Date |
January 16, 2025 |
|
Shares Offered |
17,46,000 |
|
Anchor Portion Size (In ₹ crore) |
21.65 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
February 21, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
April 22, 2025 |
EMA Partners India IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
1,000 |
₹1,24,000 |
|
Retail (Max) |
1 |
1,000 |
₹1,24,000 |
|
HNI (Min) |
2 |
2,000 |
₹2,48,000 |
EMA Partners India IPO Promoter Holding
The promoters of the company are Mr. Krishnan Sudarshan and Mr. Subramanian Krishnaprakash.
|
Share Holding Pre-Issue |
86.14% |
|
Share Holding Post Issue |
- |
Key Performance Indicators for EMA Partners India IPO
As of March 31, 2024, the market capitalisation of EMA Partners India's IPO is ₹288.26 crore. Here are the KPIs of EMA Partners India:
|
KPI |
Value |
|
RoNW (%) |
30.63 |
|
PAT Margin (%) |
20.74 |
|
Price to Book Value (x) |
3.92 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
EPS (₹) |
7.97 |
5.64 |
|
P/E (x) |
15.56 |
21.98 |
Note: Pre-IPO EPS is based on the pre-issue shareholding as of the RHP date and FY earnings as of March 31, 2024. Post-issue EPS is calculated using post-issue shareholding and annualised FY earnings as of July 31, 2024, from the RHP.
EMA Partners India IPO Prospectus
EMA Partners India IPO Registrar and Lead Managers
EMA Partners India IPO Lead Managers
- Indorient Financial Services Ltd
Registrar for EMA Partners India IPO
Bigshare Services Pvt Ltd
- Contact Number: +91-22-6263 8200
- Email Address: ipo@bigshareonline.com
EMA Partners IndiaIPO Registrar
Financial Performance of EMA Partners India Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 6,729.62 | 5,014.28 |
| Profit After Tax (PAT) (in ₹ lakh) | 1,427.30 | 307.07 |
| EBITDA (in ₹ lakh) | 1,648.59 | 407.81 |
| Net Worth (in ₹ lakh) | 5,373.95 | 3,945.52 |
| Return on Net Worth (%) | 30.63 | 7.84 |
| Debtors Turnover Ratio (Days) | 85 | 96 |
| Total borrowings (in ₹ lakh) | 103.26 | 41.94 |
| Earning Per Share (EPS)-in absolute ₹ | 8.40 | 1.81 |
Know before investing
Strengths
8Leadership team boasts 134+ years of cumulative experience, ensuring industry expertise.
Strong client relationships yield over 20 years of recurring business.
Expertise spans industries like IT, BFSI, Healthcare, and Real Estate.
SaaS platforms enhance recruitment efficiency, driving operational performance.
Proprietary MyRCloud connects companies, recruiters, and candidates seamlessly.
Expansion targets markets in the US, UK, and Saudi Arabia.
Focus on AI and automation transforms recruitment processes efficiently.
Plans to onboard seasoned professionals to expand industry expertise further.
Risks
8Reliance on EMA Partners International’s reputation makes the business vulnerable.
Termination of the Membership Agreement could disrupt operational continuity.
Revenue concentration risk with top 10 clients contributing 41.65%.
Intellectual property protection challenges may harm business value and growth.
Inability to scale or modernise MyRCloud may affect revenues.
Rising competition from global firms and boutique agencies poses challenges.
Off-limit agreements restrict candidate recruitment, impacting client opportunities.
Difficulty in retaining top talent could lead to revenue loss.
EMA Partners India Limited Peer Details Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| EMA Partners India Limited | 8.4 | 31.61 | - | 30.63 |
| Quess Corp Ltd | 18.72 | 178.19 | 35.29 | 9.85 |
| Teamlease Services Ltd | 62.87 | 474.32 | 46.3 | 14.05 |
