Electronics Mart IPO gets overwhelming response, subscribed 71 times on last day

Electronics Mart IPO Subscription: The IPO of the country’s fourth largest consumer durables and electronics retail chain Electronics Mart has closed today on October 8. This issue has been subscribed 71.93 times till the last day. The issue was oversubscribed on the very first day on the basis of retail investors and on the last day it has been subscribed more than 71 times on the basis of QIBs. Let us tell you that in the gray market, the gray market premium (GMP) of the company’s shares has slipped from Rs 35 to Rs 27.

500 crore new shares issued
Under the IPO of Electronics Mart, the company will issue new shares worth Rs 500 crore. 6.25 crore equity shares have been placed in the bidding process. Earlier, 8.47 crore shares were kept in it, but on October 3, after raising Rs 150 crore from anchor investors, the offer size was reduced to 6.25 crore equity shares. The allotment of shares will be final on October 12 and the listing is on October 17.

Category wise subscription details
QIB (Qualified Institutional Buyers) – 169.54 times
NII (Non-Institutional Investors) – 63.59 times
retail investor– 19.72 times
total investors– 71.93 times

See what’s company
Electronics Mart India was started by Pawan Kumar Bajaj and Karan Bajaj. It has 112 stores in 36 cities/towns, mostly in Andhra Pradesh, Telangana and NCR. In the financial year 2021-22, the revenue from operations was Rs 4349.32 crore as compared to Rs 3201.88 crore in the first financial year. On the other hand, in the financial year 2021-22, the net profit on an annual basis fell from Rs 103.89 crore to Rs 40.65 crore. The company’s working capital facilities stood at Rs 919.58 crore as of August 2022, while the net debt stood at Rs 446.54 crore as of June 2022.

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