Emiac Technologies IPO Day 2 update with GMP trends and subscription progress

Emiac Technologies IPO, which opened for subscription on March 27, has seen a weak response so far with around 11% subscription overall. The company raised ₹8.70 crore from anchor investors by allocating shares at ₹98 each. Emiac Technologies is an AI-driven digital solutions firm offering services such as digital marketing, branding, content development, automation, and tech support to help businesses scale efficiently. On Day 1, the IPO was subscribed 0.11 times, with retail at 0.09x, NII at 0.23x, and no participation from QIBs. The latest grey market premium (GMP) stands at ₹0, indicating an estimated listing price of ₹98, suggesting no expected listing gains at the moment. The IPO is a book-built issue of ₹31.75 crore entirely comprising a fresh issue of shares. The price band is ₹93–₹98 per share, and the minimum investment for retail investors is ₹1,17,600. The issue will remain open until April 8, with allotment likely on April 9 and listing expected on April 13 on the BSE SME platform. The proceeds will be used for technology upgrades, working capital, hiring, branding, and general corporate purposes.