The Rs 500-crore IPO entirely consisted of issuance of fresh equity shares with a face value of Rs 10 each and a lot size of 254 equity shares.
Incorporated in 1980, Electronics Mart India is the fourth largest consumer durable and electronics retailer in India with a leadership position in South India, particularly in the states of Telangana and Andhra Pradesh.
The company offers a diversified range of products with a focus on large appliances, mobiles and small appliances, IT and others of more than 70 brands. The company’s offering includes more than 6,000 SKUs (stock keeping units).
Last heard, the shares of Electronics Mart India were commanding a premium of Rs 32-35 in the grey market. The premium in the unofficial market has been holding firm since the announcement of the issue.
The company’s Rs 500 crore primary offering was sold in the range of Rs 56-59 per equity share. The issue had received a robust response from all the categories of investors, subscribing 71.93 times between October 4-7.
The quota reserved for qualified institutional buyers (QIBs) was subscribed a whopping 169.54 times, while the one reserved for non-institutional investors (NIIs) and retailers was subscribed 63.59 times and 19.72 times, respectively.
The company reported a net profit of Rs 103.89 crore with a total revenue of Rs 4,353.07 crore during the financial year 2021-22. For the period ended on June 30, 2022, its profit stood at Rs 40.66 crore with revenue of Rs 1,410.25 crore.
Brokerages remain positive on the issue, with a subscribe rating, thanks to its reasonable valuations, growth prospects and dominance in the markets. However, a few have raised concerns over dependence on major brands and online competition.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit
https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Electronics Mart India Ltd in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit submit.
You can also check the allotment status on the online portal of KFin Technologies Limited(
https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Bidders who could not get allotment in the IPO may see the initialization of refunds on October 13. Others, who would be allotted shares may see the credit of shares in the demat account by October 14. The listing of the IPO is likely on October 17.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
