The allotment of shares of consumer durable and electronics retailer Electronics Mart India will be finalised today. The grey market premium (GMP) of the stock stood at Rs 30 today, implying that the grey market expects the firm to list around Rs 89 (Rs 59 + Rs 30). The IPO had a price band of Rs 56 to Rs 59 per share. Shares of Electronics Mart will be listed on NSE and BSE on October 17. Those who have bid for the IPO can check their allotment status online.
The allotment status will be declared on the official website of the registrar and on the BSE website. KFin Technologies Limited is the official registrar of the Electronics Mart IPO.┬а
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They can either check it on BSE website or at the official website of its registrar KFin Technologies Limited.
BSE website
A bidder should login at direct BSE link and follow the below-mentioned step by step guide:
1. Login at the direct BSE link – bseindia.com/investors/appli_check.aspx;
2. Select Electronics Mart India IPO;
3. Submit your Electronics Mart India IPO application number;
4. Enter PAN card details;
5. Click at ‘I’m not a robot’;
6. Click at ‘Submit’ button.
Your IPO allotment status will be displayed on the computer monitor or on the smartphone screen.
KFintech
Bidders should login at KFintech website and follow these steps.
1. Login at direct KFintech link – ris.kfintech.com/ipostatus/ipos.aspx;
2. Click at Electronics Mart India IPO;
3. Select either Application Number or DPID/Client ID or PAN
4. Enter LIC IPO application number;
5. Fill Captcha;
6. Click at ‘Submit’ button.
Your allotment status will be displayed on the computer monitor or on the smartphone screen.
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The IPO was open from October 4 to October 7. The IPO opened for anchor investors on October 3. Anand Rathi Securities, IIFL Securities and JM Financial Consultants were the lead managers of the IPO.
The net proceeds from the issue are proposed to be utilised for the following objects:
1. Funding of capital expenditure for expansion and opening of stores and warehouses.
2. Funding incremental working capital requirements.
3. Repayment / prepayment, in full or part, of all or certain borrowings availed by the company.
4. General Corporate Purposes.
In September last year, the electronics retailer filed draft papers with SEBI. The company plans to use the proceeds worth Rs 111.44 crore for capital expenditure and Rs 220 crore for incremental working capital requirements. Additionally, the company will use Rs 55 crore to repay its debt.┬а
Electronics Mart India offers a diversified range of products with a focus on large appliances (air conditioners, televisions, washing machines and refrigerators), mobiles and small appliances, IT and others. The company’s offering includes more than 6,000 SKUs (stock keeping units) across product categories from more than 70 consumer durable and electronic brands.
