The company is looking to raise Rs 500 crore through its initial stake sale, which entirely consists of the issuance of fresh equity shares with a face value of Rs 10 each.
Electronics Mart India is the fourth largest consumer durable and electronics retailer in India. Its offerings include more than 6,000 SKUs (stock keeping units) across product categories from over 70 consumer durable and electronic brands.
The anchor book will open on Monday, October 3. Investors can make a minimum bid of 254 equity shares and in multiples thereof. The issue will close for subscription on Friday, October 7.
The company intends to utilise the net proceeds from its issue towards capital expenditure, repayment of debt and incremental working capital requirements, other than general corporate purposes.
Electronics Mart India (EMIL) was founded by Pavan Kumar Bajaj and Karan Bajaj as a proprietary concern with a consumer durables and electronics store under the name of ‘Bajaj Electronics’.
It operates and manages 112 stores with a retail business area of 1.12 million square feet, located across 36 cities, predominantly in Andhra Pradesh, Telangana and NCR.
The company has fixed 50 per cent allocation for qualified institutional buyers, whereas non-institutional buyers will get 15 per cent shares. The remaining 35 per cent shares will be allocated to the retail bidders.
The company has appointed Anand Rathi Securities,
and as the book running lead managers to the issue, whereas KFin Technologies is the registrar to the issue.
