About EMI (Electronics Mart India)
Electronics Mart India IPO, founded in 1980, is India’s fourth-largest consumer durable and electronics retailer, with a strong presence in South India, particularly in the states of Telangana and Andhra Pradesh.
IPO Offering
The public can now subscribe for Electronics Mart India’s (EMIL) three-day initial public offering (IPO), which began on Tuesday and will end on October 7, 2022, with a price range of between 56 and 59 rupees per share. With no offer for sale (OFS) component, the initial share sale consists of a new issue of equity shares totaling 500 crore.
Electronics Mart India announced on Monday that it had distributed 2,54,23,728 equity shares to 20 anchor investors for a total of around Rs 150 crore. Each share cost Rs 59.
Products
A wide variety of products are offered by the company, with a concentration on major appliances, mobile devices, small appliances, IT products, and other items from more than 70 manufacturers. From retail chains, it receives around 90% of its income. Large appliance sales account for 50% of their revenue.
The company also has a consumer durables wholesale operation, supplying goods to one-shop merchants in the states of Andhra Pradesh and Telangana.
Financial Status and Revenues
During the fiscal year 2021–2022, the company reported total revenues of Rs 4,353.07 crore and a net profit of Rs 103.89 crore. With revenue of Rs 1,410 crore and a profit of Rs 40.65 crore for the quarter that ended on June.
According to market watchers, shares of Electronics Mart India are currently fetching a premium or grey market premium (GMP) of Rs 32.
Bidding Status
On Oct 4, 2022, the Electronics Mart India IPO has been subscribed to 1.70 times. The retail category subscribed 1.99 times, the QIB category 1.68 times, and the NII category 1.04 times to the public issue.
Objectives
- Funding of capital expenditures for store expansion and warehouse openings
- Funding of incremental working capital requirements
- Full and Part Repayment or prepayment of all or certain borrowings obtained by our Company;
- General Corporate Purposes
