Electronics Mart India Limited IPO (Electronics Mart India IPO) Detail

Incorporated in 1980, Electronics Mart India Limited is the 4th largest consumer durable and electronics retailer in India. The company 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.

Electronics Mart India Limited business models:

1. Ownership Model: The company owns the underlying property including the land and building.

2. Lease Rental Model : The company has enter into a long-term lease arrangement with the property owner(s). As of August 15, 2021, out of the total 99 stores company operates, eight stores are owned, 85 stores are under the long-term lease rental model and six stores are partly owned and partly leased.

The company operates its business activities across three channels retail, wholesale and e-commerce.

Retail : As of August 15, 2021, out of 99 stores, 88 stores are Multi Brand Outlets (“MBOs”) and 11 stores are Exclusive Brand Outlets (“EBOs”). The revenue from the retail channel was Rs 29,312.84 million, Rs 28,991.35 million and Rs 25,801.72 million for Financial Year 2021, 2020 and 2019, respectively.

Wholesale: The company is also engaged in the wholesale business of consumer durables, where the company supplies products to single-shop retailers in Andhra Pradesh and Telangana regions. The revenue from the wholesale channel was Rs. 530.53 million, Rs. 505.22 million and Rs. 465.81 million for Financial Year 2021, 2020 and 2019, respectively.

E-Commerce : The e-commerce website currently functions as a catalogue for the products that company retail at stores. The revenue from the e-commerce channel was Rs. 444.57 million, Rs. 280.11 million and Rs. 212.75 million for Financial Year 2021, 2020 and 2019, respectively.

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthTotal Borrowing
Amount in ₹ Crore

Objects of the Issue

The Net Proceeds from the Issue are proposed to be utilized by the Company 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.

Electronics Mart India IPO Details

Electronics Mart India IPO DateOct 4, 2022 to Oct 7, 2022
Electronics Mart India IPO Face Value₹10 per share
Electronics Mart India IPO Price₹56 to ₹59 per share
Electronics Mart India IPO Lot Size254 Shares
Issue Size[.] shares of ₹10
(aggregating up to ₹500.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
QIB Shares OfferedNot more than 50% of the Net Offer
NII (HNI) Shares OfferedNot less than 15% of the Net Offer
Retail Shares OfferedNot less than 35% of the Net Offer
Company PromotersPavan Kumar Bajaj and Karan Baja are the company promoters.

Electronics Mart India IPO Timeline (Tentative Timetable)

Electronics Mart India IPO opens on Oct 4, 2022, and closes on Oct 7, 2022. The Electronics Mart India IPO bid date is from Oct 4, 2022 10.00 A.M. to Oct 7, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Electronics Mart India IPO Opening DateOct 4, 2022
Electronics Mart India IPO Closing DateOct 7, 2022
Basis of AllotmentOct 12, 2022
Initiation of RefundsOct 13, 2022
Credit of Shares to DematOct 14, 2022
Electronics Mart India IPO Listing DateOct 17, 2022

Electronics Mart India IPO Lot Size

The Electronics Mart India IPO lot size is 254 shares. A retail-individual investor can apply for up to 13 lots (3302 shares or ₹194,818).

Retail (Min)1254₹14,986
Retail (Max)133302₹194,818
S-HNI (Min)143,556₹209,804
B-HNI (Min)6717,018₹1,004,062

Electronics Mart India IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding77.97%

Electronics Mart India IPO Review

EMIL is the 4th largest retailer in consumer durables and electronics with south-centric play. A higher equity base post-IPO raises servicing concerns. Based on FY23 annualized earnings, the issue appears fully priced. Cash surplus investors may consider an investment with a long-term perspective. 

Company Contact Information

Electronics Mart India Limited
D. No: 6-1-91, Shop No. 10,
Ground Floor, Next to Telephone Bhavan, Secretaria
Saifabad, Hyderabad – 500 004
Phone: +91 040 4875 1125
Email: cs@bajajelectronics.in

Electronics Mart India IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com

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