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Electronics Mart India IPO: Electronics Mart India Limited is in preparation for listing on the stock exchange. The company’s IPO will open on October 4 and investors can apply for the IPO till October 7. The company has also fixed the price band of the IPO. The company has fixed the price band at Rs 56-59 per share.
500 crore IPO
Electronics Mart India Limited is going to raise Rs 500 crore from the market through IPO. The company will raise this amount only through fresh issue. This means that the promoters are not going to sell their stake in the IPO. The company will spend the money raised through the IPO on capital expenditure, working capital requirements and debt repayment. The company will also spend the fund on general corporate needs.
35% quota for retail investors
50 per cent stake in the IPO is reserved for institutional investors. 35 percent quota has been kept for retail investors and 15 percent for non-institutional investors. Investors can apply for a minimum of 254 shares, for which Rs 14,986 will have to be paid in the application. A maximum of 13 lots can be applied for, for which Rs 194818 will have to be deposited by retail investors during the application.
Company’s financial performance
Electronics Mart India Limited is founded by Pawan Kumar Bajaj and Karan Bajaj. The company has 112 stores in 36 cities till August. The company’s multi-brand outlets run under the brand name of Bajaj Electronics. If we look at the financial performance of the company, the company’s revenue has increased by 35.84 percent to Rs 4349.32 crore in 2021-22 from Rs 3201.88 crore in the previous financial year. At the same time, the net profit was Rs 103.89 crore, which was Rs 58,62 crore in its financial year.
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