Incorporated in 1980, Electronics Mart India Limited is the 4th largest consumer durable and electronics retailer in India. The company offers a diversified range of products with a focus on large appliances (air conditioners, televisions, washing machines and refrigerators), mobiles and small appliances, IT and others. The company’s offering includes more than 6,000 SKUs (stock keeping units) across product categories from more than 70 consumer durable and electronic brands.
Electronics Mart India Limited business models:
1. Ownership Model: The company owns the underlying property including the land and building.
2. Lease Rental Model : The company has enter into a long-term lease arrangement with the property owner(s). As of August 15, 2021, out of the total 99 stores company operates, eight stores are owned, 85 stores are under the long-term lease rental model and six stores are partly owned and partly leased.
The company operates its business activities across three channels retail, wholesale and e-commerce.
Retail : As of August 15, 2021, out of 99 stores, 88 stores are Multi Brand Outlets (“MBOs”) and 11 stores are Exclusive Brand Outlets (“EBOs”). The revenue from the retail channel was Rs 29,312.84 million, Rs 28,991.35 million and Rs 25,801.72 million for Financial Year 2021, 2020 and 2019, respectively.
Wholesale: The company is also engaged in the wholesale business of consumer durables, where the company supplies products to single-shop retailers in Andhra Pradesh and Telangana regions. The revenue from the wholesale channel was Rs. 530.53 million, Rs. 505.22 million and Rs. 465.81 million for Financial Year 2021, 2020 and 2019, respectively.
E-Commerce : The e-commerce website currently functions as a catalogue for the products that company retail at stores. The revenue from the e-commerce channel was Rs. 444.57 million, Rs. 280.11 million and Rs. 212.75 million for Financial Year 2021, 2020 and 2019, respectively.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-19 | 1109.15 | 2826.1 | 77.1 | 340.5 | 377.06 |
| 31-Mar-20 | 1347.6 | 3179.02 | 81.61 | 433.08 | 520.54 |
| 31-Mar-21 | 1523.53 | 3207.37 | 58.62 | 491.92 | 547.95 |
| 31-Mar-22 | 1824.74 | 4353.07 | 103.89 | 596.51 | 593.64 |
| 30-Jun-22 | 1755.58 | 1410.25 | 40.66 | 637.97 | 475.91 |
| Amount in ₹ Crore |
Objects of the Issue
The Net Proceeds from the Issue are proposed to be utilized by the Company for the following objects:
1. Funding of capital expenditure for expansion and opening of stores and warehouses.
2. Funding incremental working capital requirements.
3. Repayment / prepayment, in full or part, of all or certain borrowings availed by the Company.
4. General Corporate Purposes.
Electronics Mart India IPO Details
| Electronics Mart India IPO Date | Oct 4, 2022 to Oct 7, 2022 |
| Electronics Mart India IPO Face Value | ₹10 per share |
| Electronics Mart India IPO Price | ₹56 to ₹59 per share |
| Electronics Mart India IPO Lot Size | 254 Shares |
| Issue Size | [.] shares of ₹10 (aggregating up to ₹500.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| Company Promoters | Pavan Kumar Bajaj and Karan Baja are the company promoters. |
Electronics Mart India IPO Timeline
Electronics Mart India IPO opens on Oct 4, 2022, and closes on Oct 7, 2022. The Electronics Mart India IPO bid date is from Oct 4, 2022 10.00 A.M. to Oct 7, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Date |
|---|---|
| Electronics Mart India IPO Opening Date | Oct 4, 2022 |
| Electronics Mart India IPO Closing Date | Oct 7, 2022 |
| Basis of Allotment | Oct 12, 2022 |
| Initiation of Refunds | Oct 13, 2022 |
| Credit of Shares to Demat | Oct 14, 2022 |
| Electronics Mart India IPO Listing Date | Oct 17, 2022 |
Electronics Mart India IPO Lot Size
The Electronics Mart India IPO lot size is 254 shares. A retail-individual investor can apply for up to 13 lots (3302 shares or ₹194,818).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 254 | ₹14,986 |
| Retail (Max) | 13 | 3302 | ₹194,818 |
| S-HNI (Min) | 14 | 3,556 | ₹209,804 |
| B-HNI (Min) | 67 | 17,018 | ₹1,004,062 |
Electronics Mart India IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 77.97% |
Electronics Mart India IPO Review
EMIL is the 4th largest retailer in consumer durables and electronics with south-centric play. A higher equity base post-IPO raises servicing concerns. Based on FY23 annualized earnings, the issue appears fully priced. Cash surplus investors may consider an investment with a long-term perspective. Read detail review…
Electronics Mart India IPO Prospectus
Company Contact Information
Electronics Mart India Limited
D. No: 6-1-91, Shop No. 10,
Ground Floor, Next to Telephone Bhavan, Secretaria
Saifabad, Hyderabad – 500 004
Phone: +91 040 4875 1125
Email: cs@bajajelectronics.in
Website: https://www.electronicsmartindia.com/
Electronics Mart India IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://karisma.kfintech.com/