 "Electronics Mart IPO subscribed 72x on strong institutional interest")
The initial public offering (IPO) of Electronics Mart India (EMIL), an electronics retail chain, was subscribed 72 times on Friday, the concluding day of the issue.
The qualified institutional buyer (QIB) segment was covered nearly 170 times, high-networth individual (HNI) quota 64 times and retail quota close to 20 times.
EMIL has raised 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. EMIL’s IPO is the second-most subscribed issue of the year. Last month, Harsha Engineers’ IPO had seen nearly 75 times subscription.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%