Electronics Mart on Monday made a strong debut, as the scrip got listed at Rs 90 apiece on NSE, a 52.54 per cent premium over its issue price of Rs 59.
On BSE, the scrip got listed at Rs 85 apiece, up 44.07 per cent.
The Rs 500 crore-IPO was sold from October 4 to October 7 in the Rs 56-59 price band and received 71.93 times subscription that was the second-highest for any IPO in 2022 so far.
Harsha Engineers International's IPO attracted the highest bid 74.70 times. Dreamfolks Services (56.68 times) and Campus Activewear (51.75 times) remained two other IPOs that received over 50 times subscription.
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Harsha Engineers had debuted on September 26 at a 36 per cent premium over its issue price of Rs 330. Dreamfolks Services saw a 56 per cent listing pop earlier that month. Campus Activewear, meanwhile, jumped 23 per cent on its listing in May this year.
Electronics Mart had received 4,49,53,64,644 bids against the issue size of 6,25,00,000 shares, with the QIB quota getting 169.54 times subscription. The quotas reserved for non institutional investors (NIIs) and retail individual investors (RIIs) were subscribed 63.59 times and 19.71 times, respectively.
Incorporated in 1980, Electronics Mart is India's fourth largest consumer durable and electronics retailer, offering large appliances such as air conditioners, televisions, washing machines and refrigerators, mobiles and small appliances, IT and others. The company offerings include more than 6,000 stock keeping units across product categories from more than 70 consumer durable and electronic brands.