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Electronics Mart India IPO Debut Today, Healthy Listing Premium With 52% Intraday Gain
Electronics Mart India's IPO (Initial Public Offering) opened today, on October 17. The IPO is watching a healthy listing premium with a 52% intraday gain on NSE, at the time of writing. Electronics Mart IPO opened at Rs. 90 today; the company issued the shares at Rs. 59. Its initial offer was subscribed 72 times initially. Electronics Mart India is a leading consumer durables and electronics retailer, operating in India.
With high valuations and firm earnings, the company operates in a sector that has robust growth prospects. Electronics Mart raised Rs. 500 crore via the IPO. It is expected to aid the company to expand, opening new stores and warehouses, along with repaying debts.
Electronics Mart is offering the IPO with a price band of Rs. 56 - Rs. 59 per share. Qualified institutional investors already subscribed 169.54 times of the allotted quota, non-institutional investors subscribed 63.59 times of the allotted quota and retail investors subscribed to the IPO 19.71 times of the allotted quota.
