Electronics Mart India IPO: Latest GMP on the last day of the issuance!

Electronics Mart India IPO
Credit: Business Today

Electronics Mart India IPO: Latest GMP on the last day of the issuance!

WhatsApp Group Join Now
Telegram Group Join Now
Instagram Group Join Now

On Thursday, the second day of the offer for Electronics Mart India Ltd.’s Initial Public Offering (IPO). This was completely subscribed on Tuesday and got 7.57 times as much interest. The issue’s three days end on Friday, October 7, 2022. Briefly BSE statistics says, the issue subscribed 7.5 times as of 2:30 am on the last day. With individual investors who overbooked 16x, non-institutional investors 47x, and qualified institutional buyers (QIBs) 91x.

What’s new issuance of Electronics Mart India IPO?

The Electronics Mart India IPO has new issuance of equity shares of 500 crore rupees. This gives no offer for sale component and an initial share selling price range of 56 to 59 rupees per share.

Also read: Thai police : Attack on a childcare center resulted in at least 35 deaths.

Market analysts says, the grey market premium (GMP) for Electronics Mart India shares stayed constant at 34 today. On Monday, October 17, 2022, the company’s shares will list the stock markets.

According to brokerage ICICI Securities in an IPO letter, “We give a subscribe rating as values look reasonable considering the company’s strong and sustainable development potential and sustained focus on maintaining a balance of sales growth with steady margins in line with industry peers.”

About EMIL

EMIL is the fourth-largest and one of India’s quickest growing consumer electronics and durables shops. It is dominant in Telangana and Andhra Pradesh, and largest organized player in the southern region in terms of income.

The company’s sales CAGR from FY16 to FY21 was a robust 17.9%. Consecutively even during the pandemic, EMIL has maintained a profit, and over the years of FY20 to FY22, its EBITDA margin has been in the region of 6-7%.

There are 112 shops as of August 31, 2022, of which 100 are multi-brand outlets (MBOs) and 12 are exclusive brand outlets (EBOs). EMIL runs eight MBOs in the NCR region under the name Electronics Mart and 89 MBOs in Andhra and Telangana under the name Bajaj Electronics. Two specialty stores under the name “Kitchen Stories” focus on high-end home audio and home automation solutions. One specialty store layout under the name Audio & Beyond.

Axpert Media News Desk
Axpert Media News Deskhttps://axpertmedia.in
Axpert Media News Desk is an Internet media Website and our goal is to reach out People all over world with News, Informations & Entertainment. Ect, founder & ceo Krishnaanand

Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here