Electronics Mart India IPO: Investors Subscribed 7.57 Times On Day 2

Electronics Mart India IPO: Investors Subscribed 7.57 Times On Day 2

By Jassimran Singh

7 October 2022

EMIL's (Electronic Mart India) IPO has continued to draw strong investor response: on the second day of bidding process.

There was high interest in the IPO and they received bids for 47.29 crore shares, when they were selling only 6.25 crore share according to NSE data

Analysts Raised Concerns

Brokerages remain positive on the issue. However, a few have raised concerns over dependence on major brands and online competition. 

With strong potential for revenue growth and  improvement in profitability, we recommend a subscribed rating for a target price of Rs 201 for long-term gains, said Ventura Securities in its IPO note.

Electronics Mart India Ltd (EMIL) was founded by Pavan Kumar Bajaj and Karan Bajaj as a proprietary concern under the name of Bajaj Electronics.

About Electronics Mart India Ltd (EMIL)