Electronics Mart IPO subscribed 72x on strong institutional interest

QIB portion subscribed nearly 170 times

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.