Consumer durables retail chain Electronics Mart India Limited (EMIL)’s three-day initial public offering (IPO) will open for public subscription this week on Tuesday, October 4, 2022 and will end on October 7, 2022. The price band for the issue is done. fixed on 56-59 per share.
The initial share sale consists of a fresh issue of equity shares, totaling 500 crores with No Offer for Sale (OFS) component. The company said it intends to use the net proceeds for its capital expenditures, to support incremental working capital requirements and pay down debt and will also be used for general corporate purposes.
According to market observers, Electronics Mart India Ordering Share Premium or Gray Market Premium (GMP) 33 per share in gray market today. The company’s shares are expected to be listed on the stock exchanges on Monday, October 17, 2022.
Electronics Mart India Limited (EMIL) was established by Pawan Kumar Bajaj and Karan Bajaj as a proprietary concern with a consumer durables and electronics store under the name Bajaj Electronics.
Its multi-brand outlets operate under the Bajaj Electronics brand name in addition to two exclusive stores named ‘Kitchen Stories’, which cater to the specific needs of kitchens, and an exclusive store format under the name ‘Audio & Beyond’. which focuses on the high-end. Home audio and home automation solutions.
In FY22, the company’s revenue from operations grew by about 36% 4,349 crore from 3,201.8 crore in the same period last year, while net profit grew 77% to 104 crore 58.6 crore during the same period.
“Electronics Mart India is one of the centralized consumer durables and electronics retailer in South India. About 90% of its revenue comes from retail chains. 50% of its revenue comes from sales of large equipment. Based on the income of FY 22 after the latest issue, IPO Abhay Doshi, Co-Founder, Unlisted Arena.
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