New Delhi, April 6 -- The initial public offering (IPO) of Emiac Technologies entered its fifth day of bidding on April 6, with the subscription status managing to cross the halfway mark. The offer opened on March 27 and is slated to close on April 8.

The Rs.31.75 crore SME IPO is entirely a fresh issue of 0.32 crore shares, with no offer-for-sale (OFS) component. This means all proceeds will be received by the company.

The company plans to use the proceeds for funding the purchase of laptops, software subscriptions and cloud hosting, along with working capital needs. Additionally, some funds will be deployed for hiring of manpower and branding, marketing activities, and with general corporate purposes.

Emiac Technologies' IPO price ba...