Electronics Mart IPO: There is a response in the gray market, there is a sign of good news for investors on the listing day

Highlights

The IPO received an overwhelming response from investors and was subscribed 72 times.
The price band of Electronics Mart India IPO was Rs 56-59 per share.
Electronics Mart India Limited operates 112 stores in 36 cities.

New Delhi. Electronics Mart India’s Initial Public Offer (Electronics Mart IPO) closed on Friday, 7 October. Its listing in the stock market will take place on October 17. Indications from the gray market and the trend of market experts are telling that this IPO can give listing gains to the investors. The IPO got an overwhelming response from the investors. It was subscribed 72 times. The price band of Electronics Mart India IPO was Rs 56-59 per share.

Electronics Mart India Limited operates 112 stores in 36 cities. Most of these stores are in Andhra Pradesh, Telangana and NCR. In the financial year 2021-22, revenue of Rs 4349.32 crore was received from operations. Whereas, a year ago this figure was Rs 3201.88 crore. Net profit fell to Rs 40.65 crore from Rs 103.89 crore on an annual basis in the financial year 2021-22.

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The stock is trading at a premium in the gray market
According to a report by News18.com, according to market experts, the shares of Electronics Mart are available at a premium of Rs 29 in the gray market on Friday. This means that Electronics Mart IPO gray market premium is Rs 29 today. The stock was trading at a premium of Rs 34 on last Friday. The stock was trading at a premium of Rs 32-33 in the gray-market on the day of the opening of the IPO i.e. on October 4. According to today’s gray market price (GMP), it can be listed from the upper price band of Rs 59 to Rs 88 on October 17.

Investors keep an eye on GMP
Gray Market is an informal trading platform. As soon as the price band of the IPO is determined, the trading of unlisted shares of the IPO starts in this and it continues till the listing of the IPO. Many investors look at the gray market premium to know the expected listing price for any IPO.

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Brokerage advised to invest money
The brokerage’s opinion on Electronics Mart India IPO was positive. Many market experts also believe that one should invest in the company’s IPO. Brokerage firm ICICI Securities had advised to invest in this IPO. It was written in the brokerage IPO note that its valuation is reasonable. The company is focused on strong growth and is focusing on striking a balance between revenue growth and margins. Canara Bank Securities and IndSec Securities had given subscribe rating to the IPO.

Tags: business news in hindi, IPO, stock market

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