Shares of Electronics Mart India (EMIL) are trading at a significant premium ahead of its first public offering (IPO).
The company is currently trading at a premium of Rs32-33, or around 55% over its IPO price of Rs56-59, according to the dealers monitoring grey market activities.
According to Abhay Doshi, co-founder of UnlistedArena, numerous reasons are maintaining prices despite low sentiment in the secondary markets.
Between October 4 and 7, Electronics Mart India will sell its shares for between Rs56 and Rs59 in order to raise Rs500 crore through its inaugural stake sale, which is wholly an offer for sale (OFS) by the company’s promoters.
Brokerages continue to be bullish on the stock and advise investing in it because of its dominance in the markets, fair prices, and growth potential. They have, however, raised some concerns, such as reliance on brands and online competition.
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