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Electronics Mart India IPO: IPO will open for subscription tomorrow, know these things before investing

Highlights

The allotment of shares under the IPO will take place on October 12.
The subscription to the IPO will be open till October 7.
The price band for IPO has been fixed at Rs 56-59 per share.

Mumbai. The IPO of consumer durables retail chain Electronics Mart India Limited (EMIL) will open for subscription on October 4. It will be open till 7 October. The price band for IPO has been fixed at Rs 56-59 per share. New shares up to Rs 500 crore will be issued in the IPO. There is no offer for sale in this. The allotment of shares under the IPO will take place on October 12.

The company plans to raise Rs 500 crore through this IPO. Out of this, 111.44 crore will be used for capital expenditure and 220 crore will be used for meeting working capital requirements. Apart from this, the company will use Rs 55 crore to repay the loan. The company’s shares can be listed on the stock exchanges on Monday, October 17.

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35% stake reserve for retail investors
Anand Rathi Advisor IIFL Securities and JM Financial have been appointed as the lead managers of this IPO. 50% of Electronics Mart India IPO is reserved for qualified institutional investors. 35 per cent of the IPO has been reserved for retail investors. Similarly, 15% share has been kept reserved for non-institutional investors.

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Know about the company
Electronics Mart India Limited was established by Pawan Kumar Bajaj and Karan Bajaj under the name Bajaj Electronics. The company has 112 stores in 36 cities. Its multi-brand outlets operate under the Bajaj Electronics brand name in addition to two exclusive stores named ‘Kitchen Stories’, which cater to kitchen needs and a specialized store format under the name ‘Audio & Beyond’, Which focuses on high-end home audio and home automation solutions.

Company’s profit up 77 percent
The company’s operational annual income grew by 36 per cent to Rs 434.93 crore in the financial year 2021-22. The company’s profit has increased by 77 percent to Rs 103.89 crore in the same period. Abhay Doshi, co-founder of Unlisted Arena, says that Electronics Mart India has a good hold in South India. About 90% of its revenue comes from retail chains. It gets 50% of its revenue from the sale of large equipment.

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