South’s giant electronics retail company is bringing IPO, 500 crore shares will be issued

Electronics Mart IPO Share Price : If you are also going to invest in IPO share. Then you must read this news. In fact, the largest retail chain selling electronics goods in South India is coming up with an IPO of Electronics Mart. Its IPO will open for subscription next month between October 4 and 7. The issue will open for anchor investors on October 3.

Documents submitted to SEBI

Last year in September 2021, this company had submitted draft documents with the market regulator SEBI. Under this issue, the company will issue new shares worth Rs 500 crore. The allotment of shares will be final on October 12 and the listing will take place on October 17.

New equity shares will be issued

Under this, Electronics Mart IPO will issue new equity shares of Rs 500 crore to its investors. Rs 111.44 crore raised by issue of new shares should be used for capital expenditure, Rs 220 crore to meet increased working capital requirements and Rs 55 crore to pay off debt. The Lead Managers for the issue are Anand Rathi Advisors, IIFL Securities and JM Financial.

See what is the details

Electronics Mart India was started by Pawan Kumar Bajaj and Karan Bajaj. There are 112 stores in 36 cities/towns mostly in Andhra Pradesh, Telangana and NCR.

See how much is the revenue

In the last financial year 2021-22, the revenue from operations was Rs 4349.32 crore as against Rs 3201.88 crore in the first financial year. Talking about the financial health of the company, on the other hand, in the financial year 2021-22, on an annual basis, the net profit has fallen 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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