- Price band
- ₹93 – ₹98
- Issue size
- ₹31.75 Cr
- Lot size
- 1200 sh
- Bidding
- 27 Mar – 8 Apr
- Grey market
- —
Face value ₹10.00
100% fresh capital
Lists 13 Apr 2026
No quote recorded
Market data to 29 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Broadly well-balanced
63% of the scoring model was backed by disclosed data for Emiac Technologies, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2017 · Jaipur, Rajasthan · 38 employees
Emiac Technologies is a Jaipur-based marketing services firm that writes content and places it. Its four lines are content writing, branding and online reputation management (guest posts, brand citations, PR placements), digital marketing (SEO, Google and Meta ads, social media, influencer campaigns) and business automation (CRM and sales workflows, API integrations, dashboards). In the six months to 30 September 2025 those lines contributed 44.69%, 24.73%, 16.80% and 13.79% of revenue from operations. Customers are companies across BFSI, healthcare, education, tourism and lifestyle; the largest supplied 25.82% of that period's revenue and the top five supplied 63.42%. Exports were 33.71%, mostly the United States and Singapore. It had 38 permanent employees at 31 January 2026.
Revenue is service fees billed to client companies — the prospectus calls it revenue from the sale of services. The dominant cost is bought-in placement: advertisement and marketing expense was ₹635.24 lakhs in the six months to 30 September 2025 against ₹1,412.31 lakhs of revenue from operations, with freelance contract services a further ₹62.40 lakhs. In-house payroll is small beside that, at ₹64.07 lakhs. The structural constraint is that Emiac owns no media inventory: placements run through third-party publishers, influencers and automation platforms. Demand is also concentrated, the top five clients accounting for 63.42% of that period's revenue.
The company on paper
- Legal name
- Emiac Technologies Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 20 Jan 2017
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U72200RJ2017PLC056862
- Sector
- Communication Services · Digital content marketing, online reputation management and marketing automation services
- Employees
- 38
- Registered office
- Jaipur, Rajasthan
- Promoters
- Divya Gandotra, Shivam Bhateja, Dushyant Gandotra
- Promoter holding, pre-issue
- 68.0%
- Promoter holding, post-issue
- 50.0%
- Website
- emiactech.com
The numbers
Financial performance
Revenue has compounded at 159.9% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as published in the accounts this record was built from. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹31.75 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹31.75 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
- Market maker portionSME issues require a market maker to provide two-way quotes
- 1,68,000
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 18.0% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 7. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹98.00
- Listed at
- ₹107.80
- Listing gain
- up 10.0%
- Since listing
- down 19.7%
- Against the issue price
- down 11.7%
Trading at ₹86.52 on 29 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 2,400
- At cut-off price
- ₹98.00
- Amount blocked
- ₹2,35,200
One lot is 1200 shares at ₹1,17,600. This issue requires a minimum of 2 lots, so the smallest application is ₹2,35,200. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~27%
chance of one lot, per application
- Retail subscription
- 3.74×
- Applicants per share available
- 3.7× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹107.80
listed at, 10.0% against the issue price
- Issue price
- ₹98.00
- Premium said
- —
- If allotted 1200 shares
- ₹11,760
Listing-day figures are as reported by the exchanges.
Our read
Easy to misread
Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.
Easy to miss in the prospectus
- The September 2025 column is a six-month stub, not a year. Revenue of Rs 14.12 Cr covers H1 FY26 only, yet its EBITDA (Rs 6.19 Cr) and PAT (Rs 4.55 Cr) already exceed the whole of FY25 (Rs 5.92 Cr and Rs 4.21 Cr). The series is three annual periods plus a half-year, not four comparable years.
- Revenue here is revenue from operations, the prospectus's own KPI line. Trackers printing Rs 20.06 Cr for FY25 are quoting total revenue, which adds Rs 0.20 Cr of other income; the H1 FY26 equivalent is Rs 14.49 Cr against Rs 14.12 Cr.
- Total borrowings of 0.00 Cr for FY23 and FY24 are near-zero actuals (Rs 0.03 lakhs and Rs 0.43 lakhs), not missing data. Debt only appears in the stub period, taking the debt-equity ratio from 0.001 to 0.096.
Straight from the filing
Read it yourself
The prospectus for this issue exists, but the only copy held here is a third party’s mirror of it. We link filings from the issuer, the exchanges or the regulator, never somebody else’s copy.
The paperwork
Who is running the issue
- Lead managers
- Smart Horizon Capital Advisors Private Limited
- RegistrarAllotment status is checked on the registrar's own site
- Bigshare Services Private Limited
How these figures were checked
Built from 8 independently published accounts of this issue, agreeing with each other. No copy of the filing itself is linked here, so nothing on this page has been reconciled against the primary document — treat every figure as reported rather than verified.
- BSE equity bhavcopy, 13 April 2026 — authoritative ISIN (INE1OSW01015), scrip 544747, series MT, market lot (NewBrdLotQty 1200) and listing-day open/high/low/close · read 16 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
Other issues worth reading next
Yaap Digital
Digital marketing agency services — influencer, content and performance campaigns for brands
Listed 5 Mar 2026 · SME
- Price band
- ₹138 – ₹145
- Listing gain
- down 12.4%
- Score
- 70/100
Value 360 Communications
Public relations and digital advertising agency services
Listed 11 May 2026 · SME
- Price band
- ₹95 – ₹98
- Listing gain
- down 20.0%
- Score
- 65/100
Simca Advertising
Out-of-home and digital out-of-home advertising media in Mumbai
Listed 15 May 2026 · SME
- Price band
- ₹174 – ₹183
- Listing gain
- down 14.8%
- Score
- 92/100