Bookbuilding IPO | ₹500 Cr | Listed at BSE, NSE | Tue, Oct 4, 2022 - Fri, Oct 7, 2022
Electronics Mart IPO is a book build issue of ₹500.00 crores. The issue is entirely a fresh issue of 8.47 crore shares of ₹500.00 crore.
Electronics Mart IPO bidding started from Oct 4, 2022 and ended on Oct 7, 2022. The allotment for Electronics Mart IPO was finalized on Oct 12, 2022. The shares got listed on BSE, NSE on Oct 17, 2022.
Electronics Mart IPO price band is set at ₹59 per share. The lot size for an application is 254. The minimum amount of investment required by an retail is ₹14,986 (254 shares) (based on upper price). The lot size investment for sNII is 14 lots (3,556 shares), amounting to ₹2,09,804, and for bNII, it is 67 lots (17,018 shares), amounting to ₹10,04,062.
Anand Rathi Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Electronics Mart IPO RHP for detailed Information.
IPO Open
Tue, Oct 4, 2022
IPO Close
Fri, Oct 7, 2022
Issue Price
₹59 per share
Market Cap (Pre-IPO)
₹2,270.02 Cr
| IPO Date | 4 to 7 Oct, 2022 |
| Listed on | Mon, Oct 17, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹56 to ₹59 |
| Issue Price | ₹59 per share |
| Lot Size | 254 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 8,47,45,762 shares (agg. up to ₹500 Cr) |
| Fresh Issue | 8,47,45,762 shares (agg. up to ₹500 Cr) |
| Share Holding Pre Issue | 30,00,03,000 shares |
| Share Holding Post Issue | 38,47,48,762 shares |
| BSE Script Code / NSE Symbol | 543626 / EMIL |
| ISIN | INE02YR01019 |
Electronics Mart IPO offers total 8,47,45,762 shares. Out of which 4,23,72,880 (50.00%) allocated to QIB, 1,69,49,152 (20.00%) allocated to QIB (Ex- Anchor), 1,27,11,865 (15.00%) allocated to NII 2,96,61,017 (35.00%) allocated to RII and 2,54,23,728 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 4,23,72,880 (50.00%) | NA |
| − Anchor Investor Shares Offered | 2,54,23,728 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,69,49,152 (20.00%) | NA |
| NII (HNI) Shares Offered | 1,27,11,865 (15.00%) | NA |
| − bNII > ₹10L | 84,74,577 (10.00%) | 2,383 |
| − sNII < ₹10L | 42,37,288 (5.00%) | 1,191 |
| Retail Shares Offered | 2,96,61,017 (35.00%) | 1,16,775 |
| Total Shares Offered | 8,47,45,762 (100.00%) |
Investors can bid for a minimum of 254 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 254 | ₹14,986 |
| Retail (Max) | 13 | 3,302 | ₹1,94,818 |
| S-HNI (Min) | 14 | 3,556 | ₹2,09,804 |
| S-HNI (Max) | 66 | 16,764 | ₹9,89,076 |
| B-HNI (Min) | 67 | 17,018 | ₹10,04,062 |
Electronics Mart IPO raises ₹150.00 crore from anchor investors. Electronics Mart IPO Anchor bid date is October 3, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Oct 3, 2022 |
| Shares Offered | 2,54,23,728 |
| Anchor Portion (₹ Cr.) | 150.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Nov 11, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Jan 10, 2023 |
Incorporated in 1980, Electronics Mart India Limited is the 4th largest consumer durable and electronics retailer in India. The company offers a diversified range of products with a focus on large appliances (air conditioners, televisions, washing machines and refrigerators), mobiles and small appliances, IT and others. The company's offering includes more than 6,000 SKUs (stock keeping units) across product categories from more than 70 consumer durable and electronic brands.
Electronics Mart India Limited business models:
1. Ownership Model: The company owns the underlying property including the land and building.
2. Lease Rental Model : The company has enter into a long-term lease arrangement with the property owner(s). As of August 15, 2021, out of the total 99 stores company operates, eight stores are owned, 85 stores are under the long-term lease rental model and six stores are partly owned and partly leased.
The company operates its business activities across three channels retail, wholesale and e-commerce.
Retail : As of August 15, 2021, out of 99 stores, 88 stores are Multi Brand Outlets ("MBOs") and 11 stores are Exclusive Brand Outlets ("EBOs"). The revenue from the retail channel was Rs 29,312.84 million, Rs 28,991.35 million and Rs 25,801.72 million for Financial Year 2021, 2020 and 2019, respectively.
Wholesale: The company is also engaged in the wholesale business of consumer durables, where the company supplies products to single-shop retailers in Andhra Pradesh and Telangana regions. The revenue from the wholesale channel was Rs. 530.53 million, Rs. 505.22 million and Rs. 465.81 million for Financial Year 2021, 2020 and 2019, respectively.
E-Commerce : The e-commerce website currently functions as a catalogue for the products that company retail at stores. The revenue from the e-commerce channel was Rs. 444.57 million, Rs. 280.11 million and Rs. 212.75 million for Financial Year 2021, 2020 and 2019, respectively.
| Period Ended | 30 Jun 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|---|
| Assets | 1,755.58 | 1,824.74 | 1,523.53 | 1,347.60 | 1,109.15 |
| Total Income | 1,410.25 | 4,353.07 | 3,207.37 | 3,179.02 | 2,826.10 |
| Profit After Tax | 40.66 | 103.89 | 58.62 | 81.61 | 77.10 |
| NET Worth | 637.97 | 596.51 | 491.92 | 433.08 | 340.50 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total Borrowing | 475.91 | 593.64 | 547.95 | 520.55 | 377.06 |
| Amount in ₹ Crore | |||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure for expansion and opening of stores and warehouses | 111.44 |
| 2 | Funding incremental working capital requirements | 220.00 |
| 3 | Repayment / prepayment, in full or part, of all or certain borrowings availed by our Company | 55.00 |
| 4 | General Corporate Purposes | 82.16 |
| KPI | |
|---|---|
| ROE | 17.42 |
| ROCE | 18.87 |
| Debt/Equity | 48.04 |
| RoNW | 17.42 |
| PAT Margin | 2.40% |
| EBITDA Margin | 6.71% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.46 | |
| P/E (x) | 13.95 | |
| Promoter Holding | 100% | 77.97% |
| Market Cap | ₹2,270.02 Cr. |
The Electronics Mart India IPO is subscribed 71.93 times on October 7, 2022 7:00:00 PM (Day 3). The public issue subscribed 19.72 times in the retail category, 169.54 times in the QIB category, and 63.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 169.54 | 1,78,57,142 | 3,02,75,88,052 |
| NII | 63.59 | 1,33,92,858 | 85,16,90,448 |
| bNII (bids above ₹10L) | 66.18 | 89,28,572 | 59,08,67,754 |
| sNII (bids below ₹10L) | 58.42 | 44,64,286 | 26,08,22,694 |
| Retail | 19.72 | 3,12,50,000 | 61,61,25,768 |
| Total | 71.93 | 6,25,00,000 | 4,49,54,04,268 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 12.25 |
| 2 | Fees payable to Statutory Auditors | 1.83 |
| 3 | Advertising and marketing expenses | 2.62 |
| 4 | Printing and stationery expenses | 1.52 |
| 5 | Fees payable to Registrar to the Issue | 0.40 |
| 6 | Fee payable to legal counsels | 2.81 |
| 7 | Commission/processing fee for SCSBs, Sponsor Banksand Bankers to the Issue. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 4.49 |
| 8 | Others (Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses, fees for Chartered Engineer, and the independent chartered accountant appointed for the purpose of the Issue) | 3.23 |
| 9 | Miscelleneous | 2.27 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹59.00 | ₹59.00 |
| Open | ₹89.40 | ₹90.00 |
| Low | ₹83.20 | ₹83.10 |
| High | ₹91.00 | ₹91.00 |
| Last Trade | ₹84.45 | ₹84.50 |
Lead Manager Reports
Electronics Mart IPO is a main-board IPO of 8,47,45,762 equity shares of the face value of ₹10 aggregating up to ₹500 Crores. The issue is priced at ₹59 per share. The minimum order quantity is 254.
The IPO opens on Tue, Oct 4, 2022, and closes on Fri, Oct 7, 2022.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Electronics Mart IPO using UPI as a payment gateway. Zerodha customers can apply in Electronics Mart IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Electronics Mart IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Electronics Mart IPO opens on Tue, Oct 4, 2022 and closes on Fri, Oct 7, 2022.
Electronics Mart IPO lot size is 254, and the minimum amount required for application is ₹14,986.
You can apply in Electronics Mart IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Electronics Mart IPO will be done on Wednesday, October 12, 2022, and the allotted shares will be credited to your demat account by Fri, Oct 14, 2022. Check the Electronics Mart IPO allotment status.
The Electronics Mart IPO listing date is on Mon, Oct 17, 2022.
