Electronics Mart India IPO: The company is planning to raise Rs 500 crore through the IPO and 50 per cent of the issue is reserved for qualified institutional buyers (QIBs)
Electronics Mart India IPO: Electronics Mart India's share sale via initial public offering (IPO) opened for bidding today and will close on Friday (October 7). Electronics Mart India is planning to raise Rs 500 crore from the IPO and it has fixed price band of Rs 56-59 per share. Allotment for Electronics Mart India will be concluded on October 12 and the stock is expected to list on stock exchanges on October 17.
Electronics Mart India IPO: Price Band and Lot Size
The company has fixed price band of Rs 56-59 per share in the IPO and retail investor can bid for minimum one lot of 254 shares up to maximum on 13 lots. At the upper end of the price band one lot of Electronics Mart India shares will cost Rs 14,986.
The company is planning to raise Rs 500 crore through the IPO and 50 per cent of the issue is reserved for qualified institutional buyers (QIBs), 35 per cent of shares in the IPO are reserved for retail individual investors and 15 per cent are set aside for non-institutional investors.
The company will utilise the proceeds from the IPO for funding capital expenditure for expansion and opening of stores and warehouses, funding incremental working capital requirements, repayment andp prepayment, in full or part, of all or certain borrowings availed by the company and for general corporate purposes.
Electronics Mart India Limited is the 4th largest consumer durable and electronics retailer in India. The company offers a diversified range of products with a focus on large appliances (air conditioners, televisions, washing machines and refrigerators), mobiles and small appliances, IT and others. The company's offering includes more than 6,000 SKUs (stock keeping units) across product categories from more than 70 consumer durable and electronic brands.
Anand Rathi Securities, IIFL Securities and JM Financial Consultants are the book running lead managers for the Electronics Mart India IPO while KFin Technologies is the registrar for the issue.