On Tuesday, Electronic Mart India, the durable retail chain of consumers, announced that the initial public offer (IPO) was subscribed 1.69 times on the first day of the offer. As per data mentioned on the website of NSE, the IPO received bids for 10,58,09796 shares against 6,25,00,000 shares on offer. The retail Individual Investors (RIIs) category received 1.98 times subscription, and Qualified Institutional Buyers (QIBs) got subscribed 1.68 times. On the other hand, the non-institutional investors received 1.04 times the subscription. The price band for the offer is Rs 56-59 per share, and also this IPO consists of fresh issues with an aggregating amount of Rs 500 crore, with no offer for sale component. 

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The founder of the company, Pavan Kumar Bajaj and Mrs Kiran Bajaj had concerned with durables goods and electronics stores under the name of Bajaj Electronics in the year 1960. In the month of August 2022, the company has 112 stores across 36 cities in India. 

In the financial year 2021-22, the revenue from the operation of Bajaj Electronics has increased by 36 per cent to Rs 4,349 crore compared with last year of Rs 3,201.8 crore in the same period. Also, the net profit of the company has surged by 77 per cent to Rs 104 crore from Rs 58.6 crore.

IIFL Securities, JM Financial and Anand Rathi Advisors are the lead managers of the initial share sale. KFin Technologies Limited is the registrar of the public issue.