Electronics Mart IPO: Shares list at over 50 percent premium
Investors who had successfully subscribed to Electronics Mart India IPO, had a huge reason to cheer when the shares listed on October 17. The company has made investors rich as soon as it entered the market. Shares of Electronics Mart India were listed on the Bombay Stock Exchange (BSE) on Monday with a premium of 51%. The investors who would have been allotted the company’s IPO have got a profit of Rs 30 per share along with the listing. At the same time, the shares of the company are listed on the National Stock Exchange (NSE) with a premium of more than 52%. The company was trading at a premium of 38.98% earlier in the pre-opening session today. After that, it also crossed the premium of 50 percent.The company’s IPO was open from October 4 to October 7, 2022.
What was the price band?
Electronics Mart India Limited IPO of Rs 500 crore came. Its price band (Electronics Mart India Ltd Price Band) was fixed at Rs 56-59 per share. For this IPO, investors could apply for at least 254 shares. That is, the least one investor had to spend was Rs 14,986. At the same time, maximum 13 lots could be applied for. 50 per cent stake in the IPO was reserved for institutional investors. 35 per cent quota was reserved for retail investors and 15 per cent quota for non-institutional investors.
Where will the money be used?
The company will use the proceeds from the IPO for its capital expenditure, meeting working capital requirements and repayment of loans. Electronics Mart India Limited (EMIL) was founded by Pawan Kumar Bajaj and Karan Bajaj as a proprietary concern of Bajaj Electronics with a consumer durables and electronics storeElectronics Mart India has 112 stores in 36 cities of the country.
