Electronics Mart India IPO Share Allotment Date, Price, Details: The initial public offering (IPO) of consumer durables retail chain Electronics Mart India was subscribed 71.93 times over the 6.25 crore shares that were on offer during the subscription period from October 4-7, 2022. The price band was fixed at Rs 56-59 per share. The IPO was fully subscribed on the first day of opening last Tuesday.
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Electronics Mart IPO received bids of over 449.54 crore (4,49,54,04,268) shares against the total issue size of over 6.25 crore (6,25,00,000) shares, data available with the BSE showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 169.54 times, while those of non institutional investors was subscribed 63.59 times and that of retail individual investors (RIIs) was subscribed 19.72 times, the data showed.
The IPO comprises a fresh issue of equity shares aggregating to Rs 500 crore, with no offer for sale (OFS) component. The net proceeds from the issue will be utilised for funding of capital expenditure for expansion and opening of stores and warehouses, funding incremental working capital requirements, repayment / prepayment, in full or part, of all or certain borrowings availed by the company and general corporate purposes, as per the information provided in the red herring prospectus (RHP).
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Electronics Mart India (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. 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.
Investors are now looking forward to the share allotment date of Electronics Mart IPO. The consumer durables retail chain is likely to finalise the allotment by Wednesday, October 12, 2022, as per the timeline provided in the RHP. In case you have applied for the Hyderabad-based electronics retail’s IPO, then here is how you can check the status of your allotment when it gets declared:
The allotment status will get updated on the website of the registrar of the IPO, which in this case is KFin Technologies (Click here: https://ris.kfintech.com/ipostatus/ipos.aspx). Applicants will need to select ELECTRONICS MART INDIA LIMITED in the drop-down menu and enter either their Application No. or DPID/Client ID or PAN, enter the Captcha code (which is shown in digits) and click on Submit to view their allotment status.
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Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select ELECTRONICS MART INDIA LIMITED from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.
The listing of shares of Electronics Mart India is likely to take place on Monday, October 17, 2022, on both the NSE and BSE.
