Electronics Mart India IPO subscription status Day 1: Issue over subscribed, retail quota sees 2x bidding! - check latest data
Electronics Mart India IPO was subscribed 1.69 times on the first day of opening of the issue at 5pm on Tuesday, according to NSE data.
Electronics Mart India IPO subscription status: Electronics Mart India IPO was subscribed 1.69 times on the first day of opening of the issue at 5pm on Tuesday, according to NSE data. Against 6,25,00,000 shares reserved for the issue, the bids were made for 10,58,09,796 equity shares. The retail category was almost subscribed two times.
Earlier, the initial public offer of consumer durables retail chain Electronics Mart India Ltd opened for subscription on October 4 and will close on October 7, 2022. The company has fixed a price band of Rs 56-59 a share for its Rs 500 crore initial share sale.
The IPO consists of a fresh issue of equity shares, with no offer for sale component. The company intends to utilise the net proceeds to fund its capital expenditure, support incremental working capital requirements and pay the debt. Funds will also be used for general corporate purposes.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 254 equity shares and in multiples of 254 thereafter.
Anand Rathi Advisors, IIFL Securities and JM Financial are the book-running lead managers to the issue.
Electronics Mart India Ltd (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. The company had 112 stores across 36 cities as of August this year.
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Electronics Mart India IPO Subscription status Day 1
Electronics Mart India IPO was subscribed 1.69 times on the first day of opening of the issue at 5pm on Tuesday, according to NSE data. Against 6,25,00,000 shares reserved for the issue, the bids were made for 10,58,09,796 equity shares. The retail category was almost subscribed two times. Check details below
Retail Quota Over-Subscribed
Almost 75 per cent of the total issue was subscribed at around 03:40 PM, as against 6,25,00,000 shares on offer, bids were received for 4,64,95,462 equity shares. Retail portion oversubscribed – 1.27 times and NII quota was booked 0.50 times.
Subscription Update At 01:15 PM
Over 50 per cent of the total issue was subscribed at around 01:15 PM, as against 6,25,00,000 shares on offer, bids were received for 3,38,70,900 equity shares. The retail portion was almost filled – 0.94 times and the NII quota was booked 0.33 times.
Retail Investors Almost Subscribed
More than 40 per cent of the total issue was subscribed at around 12:33 PM, as against 6,25,00,000 shares on offer, bids were received for 2,67,34,262 equity shares. The retail portion was filled over 0.78 times and NII quota was booked 0.20 times.
Retail, Non-Institutional Investors Queue Most
Retail and non-institutional investors queue most to subscribe for Electronics Mart India IPO. Around 0.30 times subscription was seen at around 11:27 AM. Against 6,25,00,000 shares on offer, bids were received for 1,84,34,558 equity shares. Retail portion was filled over 0.54 times and NIIs quota was booked 0.13 times.
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