The price band of Electronics Mart India IPO is Rs 56-59 per share.
The stock was trading at a premium of Rs 32-33 per share in the gray market on October 4.
Many market experts also believe that one should invest in the company’s IPO.
New Delhi. Electronics Mart India’s Initial Public Offer (Electronics Mart IPO) has opened for subscription from today i.e. Tuesday. On the first day, this IPO has got good support from the investors. According to the data available on NSE, the issue is subscribed 1.69 per cent till 5 pm. Bids have been placed for 10,58,09,796 equity shares against 6,25,00,000 shares reserved for the issue. The retail category has been subscribed almost twice. Investors can invest in this IPO till 7 October 2022.
The price band of Electronics Mart India IPO is Rs 56-59 per share. The lot size of the IPO is 254 shares. Meaning retail investors can buy at least 254 shares. For this, he will have to invest Rs 14,986. An investor can buy a minimum of 13 lots. In this way, investors can invest a maximum of Rs 1,94,818 in this IPO.
Can get 55 percent listing gain
If the signals coming from the gray market are to be believed, then investors can get good listing gains from this IPO. Even before the IPO opened, its stock was trading at a premium of 55% i.e. Rs 32-33 per share in the gray market on 4 October. If we look at the gray market premium (GMP), then its listing on the upper price band can be listed on 17 October (59+33=92) at a premium of Rs 92 i.e. 55%.
The brokerage’s opinion on Electronics Mart India IPO is also positive. Many market experts also believe that one should invest in the company’s IPO. Canara Bank Securities and IndSec Securities have given subscribe rating to the IPO. The size of the IPO ie Public Issue of Electronics Mart is Rs 500 crore. That is, the company will raise Rs 500 crore from the issue. It has 112 stores in 36 cities of the country. About 90% of its revenue comes through retail chains.
Shares will be listed on October 17
50% of the issue of the company has been kept in reserve for qualified institutional investors. 35% is reserved for retail investors and 15% is reserved for non-institutional investors. The allotment of shares in the issue will take place on October 12. The company’s shares will be listed on BSE and NSE on October 17.
FIRST PUBLISHED : October 04, 2022, 18:44 IST