Electronics are a Mart India IPO's price band announced as a issue to the open next week

Electronics are a  Mart India IPO's price band announced as a issue to the open next week

Electronics Mart India IPO consists of a fresh issue of a equity shares aggregating to the ₹500 crore, with no OFS component

Consumer durables are a retail chain Electronics Mart India Ltd's are a ₹500 crore initial public offering (IPO) will be open for the public subscription next week on a Tuesday, October 4, 2022 and conclude on a October in a 7, 2022. The company on a Wednesday said it has fixed a price band of a ₹56-59 a share. In the grey market, Electronics Mart India shares are a commanded a premium or a grey market premium of a ₹25 per share. 

The initial share sale are a consists of a fresh issue of a equity shares aggregating to the ₹500 crore, with no a offer for the sale (OFS) component and the company in its draft are a IPO papers said that it intends to the  utilise the net proceeds to the fund its capital expenditure, support incremental working capital requirements and a pay debt and will also be used for the general corporate purposes.

Electronics Mart India Ltd (EMIL) was founded by the Pavan Kumar Bajaj and a Karan Bajaj as a proprietary concern with a consumer durables and a electronics store under the name of a 'Bajaj Electronics'.

The  company had 112 stores across 36 cities as of a August this year. Its multi-brand outlets are a operate under brand name Bajaj Electronics other than two specialized stores are a under the name 'Kitchen Stories' catering to the kitchen specific-requirements and a one specialized store format under the name 'Audio & a Beyond' focusing on high-end home audio and a home automation solutions. 

In FY22, the company's are a revenue from the operations increased by 36% to the  ₹434.9 crore from the ₹320 crore in the same period last year, while profit after tax surged 77 per cent to the  ₹104 crore from a ₹58.6 crore during the same period.

Anand Rathi Advisors, IIFL Securities and a JM Financial are the book running lead managers to the issue. KFin Technologies are a Limited is the registrar of the share sale. The company's are a shares are expected to the list on a Monday, October in a 17, 2022