Emiac Technologies IPO Day 3: GMP ₹0, Subscription 35.0x
As Emiac Technologies’ SME IPO on the BSE enters its third day of subscription, the overall subscription figures present a mixed picture. While the total subscription has reached an impressive 35 times, the breakdown across investor categories reveals distinct trends. The IPO, which opened on March 27, 2026, and is scheduled to close on April 8, 2026, has set its issue price at ₹93 per share.
| Date | GMP | Est. Listing |
|---|---|---|
| 01 Apr | ₹0 | ₹93 |
| 23 Mar | ₹0 | ₹93 |
Subscription Status
The headline figure of 35x total subscription is largely driven by the Non-Institutional Investor (NII) category, which has seen overwhelming demand. However, the Retail Individual Investor (RII) and Qualified Institutional Buyer (QIB) segments are yet to open their subscription books, indicating zero subscriptions from these crucial investor classes on Day 3. This suggests that the current demand is predominantly from HNIs and other non-retail entities. Typically, a strong NII subscription early on can be a positive sign, but the absence of retail and QIB participation warrants close observation in the coming days. The lot size for this IPO is 1200 shares.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 0.00x | |
| NII / HNI | 0.00x | |
| QIB | 0.00x | |
| Total | 35.00x |
GMP Update
The Grey Market Premium (GMP) for Emiac Technologies IPO remains unchanged at ₹0. This is consistent with yesterday’s GMP, indicating no significant market sentiment shift or anticipation of listing gains at this moment. A GMP of ₹0 suggests that the market is currently pricing in the stock at its issue price of ₹93 upon listing. While a positive GMP is often seen as an indicator of potential listing gains, its absence doesn’t necessarily negate the IPO’s prospects, especially for companies with strong fundamentals and long-term growth potential.
Should You Apply?
The decision to apply for the Emiac Technologies IPO requires a balanced perspective. The substantial oversubscription in the NII category is encouraging, reflecting strong interest from experienced investors. However, the lack of subscription from Retail and QIB segments on Day 3 necessitates caution. Investors should consider the company’s business model, future prospects, and the overall market conditions. As per SEBI advisories, investors are encouraged to conduct thorough due diligence before making any investment decisions. It is advisable to monitor the subscription levels in the remaining days, especially in the retail segment, and observe any changes in the GMP.