Electronics Mart India IPO
Electronics Mart India IPO — date, price band, lot size & details 2022
Electronics Mart India listed on 17 Oct 2022 at ₹90, 52.5% above the ₹59 issue price.
Electronics Mart India is the fourth largest consumer durables and electronics retailer in India, selling under the Bajaj Electronics name. Its total income was Rs 4,353.07 crore in FY2022.
Stock price
Electronics Mart India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 04 Oct 2022
- Close 07 Oct 2022
- Allotment 12 Oct 2022
- Refund/credit 13 Oct 2022
- Listing 17 Oct 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 4 to 7 Oct, 2022 |
|---|---|
| Price Band | ₹56 – ₹59 |
| Face Value | ₹10 |
| Lot Size | 254 Shares |
| Issue Size | ₹500 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,986 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 254 shares at the ₹59 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 3,179.02 crore in FY2020 to Rs 4,353.07 crore in FY2022.
- 02Profit after tax rose from Rs 58.62 crore in FY2021 to Rs 103.89 crore in FY2022.
- 03The whole Rs 500 crore issue was fresh capital for stores, working capital and debt repayment.
- 04The pre-issue P/E was 17.05 at the upper band of Rs 59, based on EPS of Rs 3.46.
- 05It offers more than 6,000 SKUs from more than 70 brands.
Risks · 5
- 01Retail margins are thin, and the source puts the PAT margin at 2.40%.
- 02Total borrowing was Rs 475.91 crore on 30 June 2022.
- 03Most stores are leased, and growth needs heavy spending on new stores and stock. Rs 220.00 crore of the issue went to working capital.
- 04Sales depend on discretionary spending and on festive and summer seasons. Profit was Rs 40.66 crore in the three months to 30 June 2022.
- 05Promoters and the promoter group held 99.99% before the issue and 77.97% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Electronics Mart India offer document.
| Metric | 30 Jun 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 1,755.58 | 1,824.74 | 1,523.53 | 1,347.60 |
| Total Income | 1,410.25 | 4,353.07 | 3,207.37 | 3,179.02 |
| Profit After Tax | 40.66 | 103.89 | 58.62 | 81.61 |
| NET Worth | 637.97 | 596.51 | 491.92 | 433.08 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | |
| Total Borrowing | 475.91 | 593.64 | 547.95 | 520.55 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Electronics Mart India RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Electronics Mart India IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹3.46 | ₹4.23 |
| P/E Ratio (x) | 17.05 | 13.95 |
| Market Cap at Offer Price (₹ Cr) | ₹693.34 | ₹567.13 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹59 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹468.60 Cr of the issue is earmarked to named objects.
Electronics Mart India IPO Anchor Investors
20 anchor investors across 14 fund houses committed ₹150.00 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It sells large appliances such as air conditioners, televisions, washing machines and refrigerators, plus mobiles, small appliances and IT products. It offers more than 6,000 SKUs from more than 70 brands.
Most of its stores are on long-term leases and a few are owned. As of 15 August 2021 it ran 99 stores, of which eight were owned.
The IPO was Rs 500 crore and was entirely fresh issue. Rs 220.00 crore was planned for working capital, Rs 111.44 crore for new stores and warehouses and Rs 55.00 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Electronics Mart India IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Anand Rathi Advisors Ltd
30 issues handledBest listing: Paras Defence & Space Technologies (+168.0%). Weakest: Aanjaneya Lifecare (-6.8%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Electronics Mart India?
The current Grey Market Premium is ₹30, or 51% over the issue price.
What is the Electronics Mart India IPO price band?
₹56 to ₹59, on a face value of ₹10.
When is the allotment?
The basis of allotment is 12 October 2022, with listing on 17 October 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
