Emiac Technologies IPO Day 2: GMP ₹0, Subscription 35.0x
Emiac Technologies’ SME IPO on the BSE has entered its second day of subscription, and the initial response has been robust, particularly from non-institutional investors. While the retail segment is yet to show significant traction, the overall subscription numbers are a key indicator for potential investors evaluating this offering.
| Date | GMP | Est. Listing |
|---|---|---|
| 11 Apr | ₹0 | ₹98 |
| 10 Apr | ₹0 | ₹98 |
| 09 Apr | ₹0 | ₹98 |
| 08 Apr | ₹0 | ₹98 |
| 07 Apr | ₹0 | ₹98 |
Subscription Status
As of Day 2, Emiac Technologies’ IPO has garnered a total subscription of 35 times. This impressive figure is primarily driven by the Non-Institutional Investor (NII) category, which has been heavily oversubscribed. The Qualified Institutional Buyer (QIB) and Retail individual investor (RII) categories are currently at 0x subscription. The lack of immediate movement in the QIB and RII segments on Day 2 can often be attributed to strategic waiting periods, with many investors preferring to assess the overall demand and market sentiment before committing. However, the strong NII participation suggests a positive outlook from high-net-worth individuals.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 3.73x | |
| NII / HNI | 5.32x | |
| QIB | 1.02x | |
| Total | 3.30x |
| Date | Retail | NII | QIB | Total |
|---|---|---|---|---|
| 08 Apr | 3.73x | 5.32x | 1.02x | 3.30x |
| 07 Apr | 1.71x | 2.44x | 1.02x | 1.67x |
| 06 Apr | 0.97x | 1.21x | 1.02x | 1.03x |
| 02 Apr | 0.48x | 0.88x | 0.00x | 0.43x |
| 01 Apr | 0.29x | 0.81x | 0.00x | 0.32x |
GMP Update
The Grey Market Premium (GMP) for Emiac Technologies IPO currently stands at ₹0. This figure has remained unchanged from yesterday’s trading. A GMP of ₹0 typically indicates that the market is expecting the stock to list at its issue price of ₹93. While a positive GMP can sometimes signal strong listing gains, its absence does not necessarily imply a poor listing. It suggests a neutral sentiment in the grey market regarding the immediate aftermarket performance of the stock.
Should You Apply?
The decision to apply for the Emiac Technologies IPO hinges on a balanced assessment of the available data. The overwhelming subscription from the NII category is a significant positive, indicating strong interest from experienced investors. However, the zero GMP and muted response from retail and QIB investors so far warrant careful consideration. The IPO period runs from 2026-03-27 to 2026-04-08, providing ample time for retail investors to participate. As per SEBI advisories, investors are encouraged to conduct their own due diligence and consult with registered financial advisors before making any investment decisions. The lot size for this IPO is 1200 shares at an issue price of ₹93.