LIVE Electronics Mart India IPO subscription status Day 2: Issue booked over 2 times; retail and NII investors continue to bid
LIVE Electronics Mart India IPO subscription status Day 2: Issue booked over 2 times; retail and NII investors continue to bid
Consumer durables retail chain Electronics Mart India’s Initial Public Offering (IPO) of was subscribed 1.69 times on the first day of an offer on Tuesday. The public offer is open between 4-7 October 2022.
The IPO received bids for 10,58,09,796 shares against 6,25,00,000 shares on offer, according to the data available with the NSE.
On day 1, the Retail Individual Investors (RIIs) category received 1.98 times subscriptions, while Qualified Institutional Buyers (QIBs) got subscribed 1.68 times. And, the portion for non-institutional investors received 1.04 times the subscription.
The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore, with no offer for sale component. The price range for the offer is Rs 56-59 per share.
Electronics Mart India Ltd (EMIL) was founded by Pavan Kumar Bajaj and Karan Bajaj as a proprietary concern with a consumer durables and electronics store under the name of Bajaj Electronics.
Anand Rathi Share and Stock Brokers, IIFL Securities and JM Financial are the managers to the offer.
Latest Updates
Retail Quota Subscribed Almost 3x
The retail and non-institutional categories continue to subscribe the Rs 500- crore IPO of Electronics Mart India on the second day too. The quota for the former was filled almost 3 times, while the latter portion is booked over 2 times. As many as 14,73,12,126 bids were received against 6,25,00,000 shares on offer at around 10:36 AM.
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