 "Electronics Mart IPO subscribed 1.7x on Day-1 on retail, QIB interest")
The initial public offering (IPO) of Electronics Mart India (EMIL), an electronics retail chain, was subscribed 1.7 times on Tuesday, the first day of the issue.
The qualified institutional buyer (QIB) segment was covered 1.68 times, high-networth individual quota 1.04 times and retail quota nearly two times.
EMIL is looking to raise Rs 500 crore from the IPO to fuel its store and warehouse expansion plan. The price band for the IPO is Rs 56-59 per share.
In 2021-22, the company had clocked net profit of Rs 104 crore on a revenue of Rs 4,349 crore. At the upper end of the issue price, EMIL is valued at Rs 2,270 crore.
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