Electronics Mart India IPO Receives 7.57 Times Subscription, Issue Closes Today
Electronic Marts India IPO was subscribed 7.57 times on the 2nd day of its issue. It gained 60% premium in gray market. Today is the last day to subscribe to this IPO.
With a market lot of 254 shares and a predetermined price range of $56 to $59 per share, the first public offering was released.
Retail investors & non-institutional quotas received bids of 7.81 times and 11.74 times, respectively, while the qualifying institutional purchasers’ portion was subscribed four times.
Electronics Mart India (EMIL) Company Profile
The fourth-largest and one of India’s quickest growing consumer electronics and durables shops is called Electronics Mart India (EMIL).
With dominance in Telangana & Andhra Pradesh, it is the largest regionally organized player in the southern region in terms of revenue.
The company’s sales CAGR from FY16 to FY21 was a healthy 17.9%. Even during the pandemic, EMIL has maintained a profit, and over the years of FY20 to FY22, its EBITDA margin has been in the range of 6-7%.
Funds Utility of Electronics Mart India
Working capital, debt repayment, general business purposes, and capital expenditures like opening new stores and warehouses will all be covered by the money acquired through the IPO.
According to the filing with the exchanges, the company collected 150 crore from anchor investors on October 3 when it chose to distribute 2.54 crore equity shares to anchor investors at a price of 59 per share.
Anchor Investors of Electronics Mart India
Aditya Birla Sun Life Insurance, HDFC Trustee, Pinebridge Global Funds, Motilal Oswal MF, Tata MF, Sundaram MF, Whiteoak Capital, Abakkus Emerging Opportunities Fund, Societe Generale, and Mirae Asset were a few of the 20 anchor investors.
A variety of goods are available from Electronics Mart India, such as air conditioners, TVs, washing machines, refrigerators, mobile phones, small appliances, and IT items.
The company provides product categories from over 70 consumer durable and tech companies. It works with channels for retail, wholesale, and online commerce.
