Electronics Mart India IPO opens today for subscription: Check price band, allotment and listing date

Electronics Mart India IPO (initial public offer) is set to open for subscription today, October 4. The consumer durables retail chain firm has fixed a price band of Rs 56-59 a share for its Rs 500 crore public offer. Investors can bid for a minimum of 254 equity shares and in multiples of 254 thereafter. A lot will cost Rs 14,986 at the upper band of Rs 59. The subscription will close on October 7. The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore, with no offer for sale component.

The company intends to utilise the net proceeds to fund its capital expenditure, support incremental working capital requirements and pay the debt. Funds will also be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

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. The company had 112 stores across 36 cities as of August this year. Its multi-brand outlets operate under the brand name Bajaj Electronics other than two specialised stores under the name 'Kitchen Stories', catering to kitchen specific-requirements and one specialised store format under the name 'Audio & Beyond', focusing on high-end home audio and home automation solutions.

Currently, EMIL has a leadership position in South India. In line with its cluster-focused expansion strategy, it plans to deepen its store network in Andhra Pradesh and Telangana and gradually expand in NCR.

EMIL displays more than 6,000 stock-keeping units (SKUs) across product categories from more than 70 consumer durable and electronic brands. It operates across three channels -- retail, wholesale and e-commerce.

In FY22, the company's revenue from operations increased by 35.84 per cent to Rs Rs 4,349.32 crore from Rs 3,201.88 crore in the same period last year, while profit after tax surged 77.22 per cent to Rs 103.89 crore from Rs 58.62 crore during the same period, the statement noted.

Anand Rathi Advisors, IIFL Securities and JM Financial are the book-running lead managers to the issue.

With PTI Inputs 

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