Electronics Mart India IPO: GMP, Subscription Status, Key Details. Should you apply to the issue?
Electronics Mart India’s (EMIL) three-day initial public offering (IPO) opened for public subscription on Tuesday and will conclude on 7 October 2022, with a price band of Rs 56-59 per share. The initial share sale consists of a new issue of equity shares totaling ₹500 crore, with no offer to sell (OFS) component.
As of 1:15 p.m. on Day 1, the issue has been subscribed 0.54x with the reserved retail investor category 0.94x, Non-Institutional Investors (NII) 0.33x, according to BSE data.
According to market watchers, Electronics Mart India shares carry a premium or gray market premium (GMP) of ₹31 in today’s gray market. The company’s shares are expected to trade on the stock exchanges on Monday, October 17, 2022.
“Electronics Mart India is among the leading centralized consumer electronics and durables retailers in South India. Nearly 90% of its revenue comes from retail chains. 50% of their income comes from the sale of large appliances. Based on FY22 earnings post reissue release, the IPO is priced at 21.77x in the upper band, which appears to be moderate as the sector is highly competitive with the presence of players with much money, both in online and offline segments. said Abhay Doshi, co-founder of UnlistedArena.