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Electronics Mart India IPO Opens; Plans To Raise ₹500 Crores

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The company’s net profits in FY22 grew at 78% YoY

Hyderabad-based Electronics Mart India (EMI) is all set to open its initial public offering (IPO) on Tuesday, with the price band of ₹56-₹59/share. As per reports, the consumer durables company is expecting to raise around ₹500 crores after this exercise, which ends on October 7.

It is noteworthy that the company recorded a YoY growth of 78% in its net profits in FY22. Thanks to the covid restrictions, in FY21, its EBITDA margin only touched 6.7%, up from 6.4%. As per the official statement, “Our operations at all of our stores were impacted during the lockdown period due to the Covid-19 restrictive guidelines issued by the respective state governments.”

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EMI plans to use the proceeds of the IPO for its capital expenditure needs, which include new stores and warehouses, working capital, debt payment, along with funding the general corporate affairs. With its operations already running across three channels – retail, wholesale and e-commerce, EMI plans to build its store network in the NCR by opening 26 MBOS with the freshly raised money.

GMP (grey market premium, premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges) of the company is hovering at ₹30 per share.

Electronics Mart India runs as a leading consumer durables retail chain, with a significant presence in South India. The company offers a range of products including air conditioners, televisions, washing machines, refrigerators, mobiles, small appliances and IT products from over 70 consumer durable and electronic brands.


 

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