Electronics Mart India IPO to launch on 4 October; Check issue size, price here
Electronics Mart India submitted draft papers to SEBI in September last year. As per the DRHP, the retail quota is 35 percent, the QIB quota is 50 percent, and the NII quota is 15 percent.
Consumer electronics and goods retailer Electronics Mart India’s initial public offering (IPO) is going to open on 4 October. Through the issuance, the company hopes to raise Rs 500 crore. The IPO subscription will come to an end on 7 October. On 12 October, shares will be allotted to investors, and the following day, reimbursements will start. On 17 October, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are likely to list Electronics Mart India’s shares. Anchor investors may begin investing in the IPO on 3 October. The principal managers of the IPO are JM Financial Consultants, IIFL Securities, and Anand Rathi Securities. The registrar of the Electronics Mart India Ltd public issue is KFin Technologies Limited.
Pavan Kumar Bajaj and Karan Bajaj founded Electronics Mart India Ltd (EMIL) as a private business with a consumer goods and electronics store running under the name ‘Bajaj Electronics.’ The proceeds will be used by the company for its working capital needs. The following things are intended to be covered with the issue’s net proceeds:
- Financing of capital expenditures for retail and warehouse opening and expansion.
- Financing of increased operating capital needs.
- Payback or prepayment, in whole or in part, of all or a portion of the company’s borrowed funds.
- General corporate purposes.
The company’s working capital facilities were worth Rs 919.58 crore as of August 2022, while its net debt was worth Rs 446.54 crore as of June 2022. Its operating revenue for FY22 was Rs 4349.32 crore, up from Rs 3201.88 crore recorded in the previous year. Compared to last year, net profit was down to 40.65 crores from 103.89 crores.
The electronics retailer submitted draft papers to SEBI in September last year. As per the DRHP, the retail quota is 35 percent, the QIB quota is 50 percent, and the NII quota is 15 percent. The proceeds will be used by the company for additional working capital needs of around Rs 220 crore and capital expenditures worth Rs 111.44 crore. Additionally, the business will utilize Rs 55 crore to reduce its debt.
Steps to apply for Electronics Mart IPO:
You can apply for the Electronics Mart IPO by using Application Supported by Blocked Amount (ASBA). By choosing the Electronics Mart IPO in the Invest section, you can simply proceed to the online bank login and apply via your bank account.
The alternative is to use IPO forms that may be downloaded from the NSE and BSE websites to apply for the Electronics Mart IPO:
- Go to the BSE or NSE site.
- Check out the Electronics Mart forms
- Download the blank IPO forms
- Fill up the form and submit it to your bank or broker.
Electronics Mart India offers a wide variety of goods with a focus on major appliances such as air conditioners, televisions, washing machines, refrigerators, mobiles and small appliances, IT, and other products. It runs and maintains 112 stores totalling 1.12 million square feet of retail space spread over 36 cities and urban enclaves, mainly in Andhra Pradesh, Telangana, and the National Capital Region.
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The total proceeds from the fresh issue will be utilised for establishing a manufacturing facility in Gujarat