MUMBAI, 26 SEPTEMBER, 2022 (GPN): The subscription period for Electronics Mart India Ltd’s initial public offering (IPO) will begin on October 4 and end on October 7.

The closing date for bids from anchor investors is October 3. The basis of allotment will be finalized on October 12 and shares will be credited to winning bidders’ demat accounts on October 14. On October 17, Electronics Mart will make its stock market debut.

The company submitted draft papers to SEBI in September 2021 in order to raise around Rs500 crore through a new issue.

The proceeds will be used by the company for additional working capital needs of Pavan Kumar Bajaj and Karan Bajaj established Electronics Mart India Ltd (EMIL) as a private company with a consumer goods and electronics store operating under the name “Bajaj Electronics.” around Rs 220 crore and capital expenditures worth Rs111.44 crore. The company will also use Rs55 crore to pay off its debt.It operates and manages 112 stores with a retail business area of 1.12 million sq. ft., located across 36 cities/urban agglomerates, predominantly in Andhra Pradesh, Telangana and NCR.

In September 2021, the firm filed draft papers with SEBI to raise around Rs 500 crore via fresh issue. The retail quota is 35 per cent, QIB is 50 per cent, and HNI is 15 per cent.

For FY22, its revenue from operations was at Rs 4349.32 crore, as against Rs 3201.88 crore a year ago. Net profit for the year stood at Rs 40.65 crore versus Rs 103.89 crore last year.

Electronics Mart India Limited is one of the largest electronics retailers in India. The company was incorporated in 1980 and based in Hyderabad. They are the 4th largest consumer durable and electronics retailer in India and as of Financial Year 2020, they are the largest player in revenue terms, according to CRISIL report.

Electronics Mart India (EMI) offers large appliances like Televisions, Refrigerators, Washing machines, Air conditioners, mobiles, small appliances, IT, and other electronics products as well. They are selling over 5000 SKUs in more than 70 consumer durable and electronics brands. They have 2 business models, 1. Ownership Model and 2. Lease Rental Model. They are selling products in retail, wholesale, and e-commerce as well.Ends