Consumer Durables Retail Chain Electronics Mart India Limited 500 crore Initial Public Offering (IPO) will open for public subscription next week on Tuesday, October 4, 2022 and will end on October 7, 2022. The company said on Wednesday that it has fixed its price band. 56-59 per share. In the gray market, the shares of Electronics Mart India commanded a premium or gray market premium of 25 per share.
The initial share sale consists of a fresh issue of equity shares, totaling 500 crores, there is no offer for sale (OFS) component and the company is in the draft IPO The papers said it intends to use the net proceeds to fund its capital expenditures, support incremental working capital requirements and pay down debt and will also be used for general corporate purposes.
Electronics Mart India Ltd. (EMIL) was established by Pawan Kumar Bajaj and Karan Bajaj as a proprietary concern with 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 name in addition to two exclusive stores, namely ‘Kitchen Stories’, which cater to the specific needs of kitchens, and an exclusive store format named ‘Audio & Beyond’. Under focuses on high-end home audio. home automation solutions.
In FY22, the company’s revenue from operations grew by 36% 434.9 crore from 320 crore in the same period last year, while profit after tax increased by 77 percent to 104 crore 58.6 crore during the same period.
Anand Rathi is the Book Running Lead Manager of Advisors, IIFL Securities and JM Financial Issues. KFin Technologies Limited is the registrar of share sale. The company’s shares are expected to be listed on Monday, October 17, 2022
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