HYDERABAD: The IPO (Initial Public Offering) of Electronic Mart India Limited (EMIL), (Bajaj Electronics) will close on October 7 after it opened on Monday. The shares on offer have been priced at Rs 56-59 per share.
Market analysts point out that EMI has the advantage of scale and increasing market presence. It has a pricing and margin advantage as it is attractively valued.
The largest player in south and the fourth largest in the country, EMIL, which operates outlets in the name of Bajaj Electronics in Telangana State and Andhra Pradesh, was established in 1980 by a business savvy visionary Pavan Kumar Bajaj, the chairman and managing director of EMIL. The first retail store was established at Lakdikapul.
It currently has 112 stores (79 in Telangana and 25 in Andhra Pradesh) across 36 cities and has grown from a regional player to having eight stores under the name of Electronics Mart in Delhi NCR in line with its focus on deepening its presence and gradually expanding its network.
The Covid pandemic notwithstanding, they have opened nine new stores since April 1. Out of the 112 stores, 100 of them are multi brand outlets and 12 are exclusive brand outlets. It houses two specialized stores under the name of Kitchen Stories, that houses modular kitchen & and premium kitchen appliances and audio.
Beyond that it focuses on high end home cinema/audio and home automation solutions.