Electronics Mart IPO subscribed 72x on final day
Electronics Mart IPO subscribed 72x on final day The initial public offering (IPO) of Hyderabad-based consumer durables retail chain Electronics Mart was subscribed 72 times as on 5 pm on Friday, the final day of the offer. The portion reserved for qualified institutional buyers was subscribed 169.54 times and the same for wealthy or non-institutional investors was subscribed 63.59 times. The portion for retail investors was subscribed 19.71 times. The price band for the issue was Rs 56-59. Also Read: Electronics Mart India IPO: Public issue closes on 7th Oct, check grey market premium; should you subscribe? The offer consists of a fresh issue of shares aggregating to Rs 500 crore, with no offer for sale component. The company intends to utilise the net proceeds to fund capital expenditure and incremental working capital requirements to the extent of Rs 133.8 crore and Rs 200 crore, respectively, and repayment/prepayment of Rs 50 crore of debt besides general corporate purposes. Anand Rathi Advisors, IIFL Securities and JM Financial were the book running lead managers to the issue. 
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