Electronic Mart India IPO: Electronic Mart India IPO will begin on October 4; fixed price range

New Delhi: Electronics Mart India (EMIL) will sell its shares in the price range of Rs 56-59 during its initial public offering (IPO), which will start with subscription on Tuesday, October 4.

The company is seeking to raise Rs 500 crore through its initial stake sale, which consists entirely of the issuance of new shares with a nominal value of Rs 10 each.

Electronics Mart India is the fourth largest consumer durables and electronics retailer in India. Its offerings include more than 6,000 SKUs (stock keeping units) across all product categories from more than 70 brands of consumer durables and electronics.

The anchor book will open on Monday, October 3. Investors can make a minimum bid of 254 shares and multiples thereof. The issue will be closed for subscription on Friday, October 7.

The company intends to use the net proceeds of its issuance for capital expenditures, debt repayment and additional working capital requirements, other than general corporate purposes.

Electronics Mart India (EMIL) was founded by Pavan Kumar Bajaj and Karan Bajaj as a proprietary business with a consumer durable goods and electronics store under the name “Bajaj Electronics”.

It operates and manages 112 stores with a shopping area of ​​1.12 million square feet, located in 36 cities, mainly in Andhra Pradesh, Telangana and NCR.

The company has set a 50% allocation for qualified institutional buyers, while non-institutional buyers will get 15% of the shares. The remaining 35% of shares will be allocated to retail bidders.

The company has appointed Anand Rathi Securities,

and as the issue’s responsible book maintainer, while KFin Technologies is the issue’s registrar.

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