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HomeDigit NewsGreat response to Electronics Mart India's IPO, know how much is subscribed...

Great response to Electronics Mart India’s IPO, know how much is subscribed so far

Electronics Mart IPO: Electronics Mart India IPO IPO is getting good response from investors and it has got 2 times subscription on the second day of the issue. Not only is there a good response from the investors for the issue of the company, its GMP is also showing good growth.

Know the GMP of Electronics Mart India
On the other hand, talking about the gray market premium of the shares of Electronics Mart India, it is getting a premium of Rs 36 per share. The company’s Rs 500 crore IPO is open from October 4 and will be open for the subscription of investors till October 7 i.e. tomorrow.

How much subscribed share of retail investors
The price band for the IPO is Rs 56-59 and it has so far received bids for 19,41,23,818 shares against the issue size of 6,25,00,000 shares. The share of retail individual investors in the IPO has been subscribed 4.07 times so far. The company’s IPO was fully subscribed on the very first day i.e. on Tuesday, October 4 and by 11.30 am today it was subscribed 3.11 times. If we look at the rest of the details of the issue, the share of non-institutional investors was 2.76 per cent and that of qualified institutional buyers (QIBs) was subscribed 1.68 times.

When and for how much can the listing be done
The shares of Electronics Mart India Company can be listed on the stock market on 17 October 2022. Suppose you were allotted its shares at the upper price band of Rs 59 and listed according to today’s gray market premium, then the company’s shares can show listing at Rs 95 (Rs 59+36).

Where is the money raised from the IPO used?
The company will spend the money raised through the IPO on capital expenditure, working capital requirements and debt repayment. Electronics Mart India Limited plans to spend the funds raised from the IPO on general corporate needs as well.

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