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Electronics Mart India Ltd on Wednesday fixed a price band of ₹56-59 a share for its ₹500-crore initial public offering. The initial share-sale will open for public subscription on October 4 and close on October 7, the company said in a statement. The IPO consists of a fresh issue of equity shares aggregating to ₹500 crore, with no offer for sale component. Investors can bid for a minimum of 254 shares.
While 50 per cent of the issue has been reserved for qualified institutional buyers, 15 per cent has been earmarked for non-institutional investors and the rest for retail investors.
EMIL, one of the fastest growing consumer durables and electronics retailers in India, has 112 stores across 36 cities/urban agglomerates, out of which 100 stores are multi-brand outlets (MBOs) and 12 stores are Exclusive Brand Outlets.
The company operates 89 MBOs under Bajaj Electronics in Andhra and Telangana, eight MBO under Electronics Mart in the NCR region, two specialised stores under Kitchen Stories and one specialised store format under Audio & Beyond.
The company registered a revenue of ₹4,349 crore in 2021-22, showing a growth of 36 per cent over the previous year’s revenue of ₹3,202 crore.
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