Electronics Mart India IPO Share Allotment Today: Investors are now looking forward to the share allotment date of the Electronics Mart IPO. The consumer durables retail chain is likely to finalise the allotment by Wednesday, October 12, 2022, as per the timeline provided in the RHP. In case you have applied for the Hyderabad-based electronics retail’s IPO then check the Electronics Mart IPO allotment status online by logging in at the BSE website or at the website of its official registrar. The official registrar of the IPO is KFin Technologies Limited.
Electronics Mart India shares are likely to debut on stock exchanges on 17 October. The IPO shares were commanding a grey market premium (GMP) of Rs 30 apiece, up from Rs 27-30 a piece earlier.
Subscription Status
The Rs 500-crore IPO received an overwhelming response from investors, getting bids worth more than Rs 26,500 crore against an IPO size of Rs 500 crore. The issue was subscribed 71.93 times – the second highest subscription level in 2022 after Harsha Engineers (74.70 times) – with retail investors applying for shares 19.71 times the allotted quota, non-institutional investors putting in bids 63.59 times the portion set aside for them. The qualified institutional buyers bought 169.54 times their reserved portion.
The IPO comprises a fresh issue of equity shares aggregating to Rs 500 crore, with no offer for sale (OFS) component. The company intends to utilise the net proceeds to fund its capital expenditure and incremental working capital requirements to the extent of Rs 133.8 crore and Rs 200 crore respectively, repayment/prepayment of Rs 50 crore of its debt besides general corporate purposes. Anand Rathi Advisors Limited, IIFL Securities Limited and JM Financial Limited are the book-running lead managers to the issue and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on both BSE and NSE.
Electronics Mart India (EMIL) was founded by Pavan Kumar Bajaj and Karan Bajaj as a proprietary concern with a consumer durables and electronics store under the name of Bajaj Electronics. Its multi-brand outlets operate under the brand name Bajaj Electronics other than two specialised stores under the name ‘Kitchen Stories’, catering to kitchen specific-requirements and one specialised store format under the name ‘Audio & Beyond’, focusing on high-end home audio and home automation solutions.
Check share allotment status in Electronics Mart India via BSE website
Another way to check the allotment status in Electronics Mart India is through the BSE website. Select ‘equity’ as the issue type, and ‘Electronics Mart India’ as the issue name from the drop-down list, when it gets declared. Enter the application number and PAN (permanent account number). Click on ‘I am not a Robot’. In the last step, click on the search tab to view the status details.
How to check Electronics Mart IPO share allotment status online via KFin Technologies
Go to the official website of the registrar of the IPO that is KFin Technologies. Select the name of the IPO (Electronics Mart India) in dropbox. Select either one of the three modes: Application number, Client ID or PAN ID. Enter the application details, captcha, and click on the submit button.
Electronics Mart IPO GMP Today
According to market observers, shares of Electronics Mart are available at a premium of Rs 29 in grey market today. This means Electronics Mart IPO grey market premium (GMP) today is Rs 29.
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