Electronics India Mart IPO opens for subscription; know details
The Initial Public Offering (IPO) of Electronics Mart India (EMI) is opening for public bidding today, October 4. The bidding for this IPO will continue till October 7. The company is expected to raise Rs 500 crore from this IPO. Market analysts are very positive about this issue.
The IPO of consumer durables retail chain Electronics Mart India will be open for subscription till October 7. Its price band is Rs 56-59 per share. The allotment status of Electronics Mart India IPO will be announced on October 12, while the listing will take place on October 17 on NSE and BSE.
The firm has fixed a price band of Rs 56-59 per share for its Rs 500 crore public offer. Investors can bid for a minimum of 254 equity shares and thereafter in multiples of 254. The upper band of Rs 59 will cost Rs 14,986. Membership will close on 7 October.
Where will the money be used
The company will use this proceeds to fund its capital expenditure. It will also be used for general corporate purposes. Half of the issue size is reserved for institutional investors, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
What is company profile
Electronics Mart India Limited (EMIL) was founded by Pawan Kumar Bajaj and Karan Bajaj as a consumer durables and electronics store under the name Bajaj Electronics. As of August this year, the company had 112 stores in 36 cities. Its multi-brand outlets operate under the Bajaj Electronics brand.
Electronics Mart India Limited has a benchmark of over 6,000 stock-keeping units from over 70 consumer durable and electronic brands. It operates in all three channels, retail, wholesale and e-commerce.
