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Electronics Mart IPO to open next week, price band fixed at Rs 56-59

Electronics Mart IPO to open next week, price band fixed at Rs 56-59

Electronics Mart IPO: Electronics Mart expects to raise around Rs 500 crore through the fresh issue with a face value of Rs 10 each. As on August 31, 2022, it had 112 stores across 36 cities, out of which, 100 stores are multi-brand outlets (MBO) and 12 stores are exclusive brand outlets.

Electronics Mart India operates 89 MBOs under the name 'Bajaj Electronics' in Andhra and Telangana. Electronics Mart India operates 89 MBOs under the name 'Bajaj Electronics' in Andhra and Telangana.

Hyderabad-based consumer durable retail chain, Electronics Mart India has fixed the price band at Rs 56 to Rs 59 per equity share for its forthcoming initial public offering (IPO), which is slated to hit the primary market on October 4. The country's fourth-largest consumer durables retail chain expects to raise around Rs 500 crore through the fresh issue with a face value of Rs 10 each.

Investors can bid for a minimum of 254 equity shares and in multiples of 254 equity shares thereafter. The three-day public offer will close on October 7. The issue consists of a fresh issue of equity shares aggregating to Rs 500 crore, with no offer for sale (OFS) component.

Also Read | Electronics Mart India IPO: Check issue size, open date, allotment and other details

The company has 1.12 million square feet of retail business area. As on August 31, 2022, it had 112 stores across 36 cities, out of which, 100 stores are multi-brand outlets (MBO) and 12 stores are exclusive brand outlets.

Electronics Mart India operates 89 MBOs under the name “Bajaj Electronics” in Andhra and Telangana, eight MBOs under the name of “Electronics Mart” in the NCR region, and two specialised stores under the name “Kitchen Stories” which cater to the kitchen-specific demands of their customers and one specialised store format under the name “Audio & Beyond” focusing on high-end home audio and home automation solutions.

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In FY22 (2021-22), the company’s revenue from operations increased significantly by 35.84 per cent to Rs 4349.3 crore from Rs 3201.9 crore a year ago, primarily due to an increase in retail sales. However, profit after tax increased by 77.22 per cent to Rs 103.89 crore against Rs 58.62 crore in the financial year 2021.

Published on: Sep 28, 2022, 4:05 PM IST
Posted by: prashun talukdar, Sep 28, 2022, 4:00 PM IST