CORPORATEElectronics Mart share allotment status: Know how to check it

Electronics Mart share allotment status: Know how to check it

Electronics Mart share allotment status

The basis of allotment for Electronics Mart, whose Rs 500 crore IPO was well received by investors, is likely to be decided on Wednesday. Due to the consumer durables retailer’s respectable financials and business plan, appealing valuations, and strong investor demand, the counter was reportedly commanding a premium of roughly Rs 30 in the grey market.

A 40–50% listing boost for Electronics Mart appears plausible, according on what grey market premiums indicate, according to Mumbai-based Dharawat Securities’ Narottam Dharawat.

According to Dharawat, a significant investor interest for Electronics Mart was already apparent throughout the bidding process. He added that the market’s optimism was increased by the recent successful IPO listings and a promising pipeline.

The Rs 56–59 price range Electronics Mart IPO, which was marketed from October 4 to October 7, received 71.93 times the amount of subscription. This was, behind Harsha Engineers International’s 74.70 times, the IPO with the second-highest number of bids thus far in 2022. In addition to Campus Activewear and Dreamfolks Services, two more initial public offerings (IPOs) attracted subscriptions exceeding 50 times each.

On September 26, Harsha Engineers made its public debut at a premium of 36% over its initial offering price of Rs 330. Earlier in the month, Dreamfolks Services experienced a listing growth of 56%. Campus Activewear, on the other hand, saw a 23% increase since its listing in May of this year.

Electronics Mart

Electronics Mart’s initial public offering (IPO) saw bids for 4,49,53,64,644 shares against the issue size of 6,25,00,000 shares, with the QIB quota receiving 169.54 times the required amount of subscription. Retail individual investor (RII) and non-institutional investor (NII) quotas were subscribed 63.59 times and 19.71 times, respectively.

According to red herring materials submitted to ROC, the basis of allocation for the IPO may occur on Wednesday, refunds are expected to start on October 13, and shares will likely be credited to demat accounts by Friday.

Most likely, on Monday, October 17, the stock might begin trading on stock exchanges.

Prospective allocators must click on “Equity” and then choose “ELECTRONICS MART INDIA LIMITED” from the list of available issues. Additionally, they would have to type the PAN number or the application number. Select “I am not a robot” and then press search.

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