EMA Partners India Limited is all set to launch its Initial Public Offering (IPO), with a total issue size of ₹76.01 crore. The IPO consists of a fresh issue of ₹66.14 crore (53.34 lakh shares) and an offer for sale of ₹9.87 crore (7.96 lakh shares). The subscription period for the IPO opens on January 17, 2025, and closes on January 21, 2025. The allotment process will be completed by January 22, 2025, and the shares are expected to be listed on January 24, 2025, on the NSE SME platform.
About EMA Partners India Limited
Founded in 2003, EMA Partners India has become one of the leading executive search firms in India. Positioned among the top 10 players by revenue in the Indian executive search market, the company has gained a strong foothold in the recruitment and talent solutions industry. EMA Partners has built a comprehensive platform, providing diverse talent solutions through three major verticals:
High-End Executive Search: EMA Partners India focuses on leadership hiring, offering specialized services for top-tier executives.
Mid-to-Senior Level Recruitment: Through James Douglas, the company addresses recruitment needs for mid-to-senior professionals across various industries.
AI-Driven Recruitment: The company leverages MyRCloud, an AI-powered platform designed for efficient entry and middle management hiring.
EMA Partners operates out of its headquarters in Mumbai and has expanded its international reach with subsidiaries in Singapore (2010) and Dubai (2017, 2022). These global offices enhance the company’s ability to offer cross-border leadership hiring solutions and support its expansion into international markets.
EMA Partners IPO Overview
Particulars
Details
IPO Date
January 17, 2025 to January 21, 2025
Listing Date
January 24, 2025
Face Value
₹5 per share
Price Band
₹117 to ₹124 per share
Lot Size
1,000 shares
Total Issue Size
61,30,000 shares (aggregating up to ₹76.01 Cr)
Fresh Issue
53,34,000 shares (aggregating up to ₹66.14 Cr)
Offer for Sale
7,96,000 shares (aggregating up to ₹9.87 Cr)
Listing At
NSE SME
Reservation Details
Investor Category
Shares Offered
QIB (Qualified Institutional Buyers)
Not more than 50% of the Net Offer
Retail Investors
Not less than 35% of the Net Offer
Non-Institutional Investors / HNI
Not more than 15% of the Net Offer
IPO Timeline
Event
Date
IPO Open Date
January 17, 2025
IPO Close Date
January 21, 2025
Basis of Allotment
January 22, 2025
Initiation of Refunds
January 23, 2025
Credit of Shares to Demat
January 23, 2025
Listing Date
January 24, 2025
EMA Partners IPO Lot Size
Investor Category
Shares
Amount (₹)
Retail Investors (Min)
1,000
₹1,24,000
High Net-Worth Individuals (Min)
2,000
₹2,48,000
Financial Performance (Restated Consolidated)
Period Ending
Assets (₹ Lakhs)
Revenue (₹ Lakhs)
Profit After Tax (₹ Lakhs)
31 Jul 2024
₹7,504.71
₹2,632.90
₹437.22
31 Mar 2024
₹7,659.05
₹6,883.45
₹1,427.30
31 Mar 2023
₹5,326.29
₹5,106.16
₹307.07
31 Mar 2022
₹5,850.27
₹5,786.52
₹1,127.06
Key Financial Metrics (KPI)
Metric
Values
Market Capitalization
₹288.26 Cr
Return on Net Worth (RoNW)
30.63%
Profit After Tax (PAT) Margin
20.74%
Price to Book Value
3.92
Peer Comparison
Metric
Pre-IPO
Post-IPO
EPS (Earnings Per Share)
₹7.97
₹5.64
P/E Ratio (Price to Earnings)
15.56
21.98
Competitive Strengths and Advantages of EMA Partners IPO
Strong Market Position: As a leading executive search firm, EMA Partners has established itself as a key player, competing successfully with global giants in the Indian market.
Advanced Technology Integration: The company’s commitment to staying at the forefront of innovation is evident through its strategic investment in AI-powered platforms that streamline and enhance recruitment processes.
Skilled and Experienced Workforce: With a team of 117 full-time professionals, EMA Partners brings a wealth of specialized knowledge across various industries, ensuring high-quality services for diverse client needs.
Global Reach: EMA Partners leverages its international presence to access a vast network of global talent, enabling it to offer cross-border recruitment solutions and expand its global footprint.
Proven Track Record: The company boasts a strong history of financial stability and a growing, loyal client base, reflecting its ability to consistently deliver exceptional results and operational excellence.
Risks & Challenges of EMA Partners IPO
Economic Vulnerability: The demand for executive hiring is highly sensitive to economic conditions, with potential for a 40% drop in hiring activity during periods of economic slowdown, which could affect business performance.
Cash Flow Volatility: EMA Partners faces the ongoing challenge of managing cash flow due to payment delays, which impact around 60% of businesses in the recruitment industry.
Ongoing Technology Investments: To maintain its competitive edge, EMA Partners must continue to invest in advanced recruitment technologies, ensuring it stays ahead of industry trends and meets evolving client expectations.
Data Security Concerns: The recruitment industry faces significant data security risks, with annual data breaches that can cost between ₹50 lakh and ₹1 crore per incident, potentially damaging both reputation and finances.
Intense Competition: EMA Partners operates in a highly competitive market, where global firms such as Heidrick & Struggles and Spencer Stuart exert significant pressure, especially in terms of pricing and service differentiation.
Here’s the final version with a concise, polished conclusion:
Final Thoughts on EMA Partners IPO
EMA Partners presents an attractive opportunity for investors seeking exposure to the executive search and recruitment industry. With a strong market position, advanced technological integration, and a proven track record, the company stands out in a competitive space. However, potential investors should carefully consider the risks associated with economic sensitivity, cash flow management, and the ongoing need for technology investments. Additionally, the competitive pressure from global players and data security risks are notable challenges that could impact the company’s growth and profitability.
Overall, while EMA Partners offers compelling strengths, it is essential for investors to assess these factors before making investment decisions.
