Electronics Mart's IPO to open on 4th October

26 Sep 2022 , 09:22 AM

The subscription period for Electronics Mart India Ltd’s initial public offering (IPO) will begin on October 4 and end on October 7.

The closing date for bids from anchor investors is October 3. The basis of allotment will be finalized on October 12 and shares will be credited to winning bidders’ demat accounts on October 14. On October 17, Electronics Mart will make its stock market debut.

The company submitted draft papers to SEBI in September 2021 in order to raise around Rs500 crore through a new issue.

The proceeds will be used by the company for additional working capital needs of

Pavan Kumar Bajaj and Karan Bajaj established Electronics Mart India Ltd (EMIL) as a private company with a consumer goods and electronics store operating under the name “Bajaj Electronics.” around Rs 220 crore and capital expenditures worth Rs111.44 crore. The company will also use Rs55 crore to pay off its debt.

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