Electronics Mart IPO listing today: After the allocation of shares, bidders and market observers are eagerly waiting for the Electronics Mart IPO listing date, which is fixed on 17th October 2022. As per the information available on the official website of BSE, from Monday, October 17, 2022, the equity shares of Electronics Mart India Limited shall be listed and admitted to dealings on the exchange in the list of ‘B’ group of securities. Electronics Mart India, one of the fastest-growing consumer durables and electronics retailers in India, is expected to see a healthy double-digit listing premium after the initial offering was subscribed 72 times over.
The listing premium is expected to be in the range of 35-45 per cent over the issue price of Rs 59 a share, experts said, citing reasonable valuations, healthy financials in a competitive sector and robust growth prospects of the industry.
Electronics Mart IPO Subscription Status
The maiden public issue of Electronics Mart India was subscribed 71.93 times during October 4-7, with qualified institutional buyers buying 169.54 times the allotted quota. Retail and non-institutional investors also remained aggressive, putting in bids 19.71 times and 63.59 times the portion set aside for them.
Electronics Mart IPO GMP today
Meanwhile, grey market sentiments have remained steady in regard to Electronics Mart shares. According to market observers, shares of Electronics Mart are available at a premium of Rs 30 in grey market today that means grey market is expecting strong listing of the public issue.
Market observers said that Electronics Mart IPO GMP has remained around Rs 30 for more than a week and it has remain unperturbed by the secondary market sentiments. That means, grey market is quite bullish on Electronics Mart shares.
Electronics Mart IPO Listing Gains
On Electronics Mart IPO listing price, Manoj Dalmia, Founder & Director at Proficient Equities said, “Electronics Mart India shares are commanding a premium or grey market premium (GMP), has surged to Rs 30 in the grey market today as compared to Rs.24 yesterday. We can expect a listing price of ₹86-89. Investors may hold the shares for listing gains and further appreciation in share price.
“Backed by a supportive secondary market, Electronics Mart India is signalling a strong debut with a healthy premium on its issue price. Considering excellent response from QIB, NII and retail demand, we assume listing would be around Rs 80-85 levels, which translates to more than 36-44 percent premium over the upper end of the IPO,” Prashanth Tapse, Senior VP Research at Mehta Equities said.
The healthy listing is justified on the back of reasonable valuations for a fast-growing consumer durable and electronics retailer when compared to peers along with consistently profitable business model in a highly competitive sector.
Tapse is optimistic about India’s growing consumer durable and electronics industry and believes that organised players like Electronics Mart India, Vijay Sales, Tata Croma, etc will do well in the long term as the industry is getting bigger and bigger.
Electronics Mart India mainly operates in Andhra Pradesh and Telangana region with 112 stores as of now. It recorded revenue CAGR of 17.9 percent during FY16 and FY21.
Astha Jain, senior research analyst at Hem Securities, expects Electronics Mart India to list at a premium of 40-45 per cent, while Aayush Agrawal, senior research analyst at Swastika Investmart, also sees a significant mark-up due to strong investor interest and a turnaround in the market sentiment.
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