Bajaj Electronics announces opening of its IPO on October 4
DECCAN CHRONICLE | DC Correspondent
HYDERABAD: Hyderabad-based Bajaj Electronics aka Electronic Mart India Limited (EMIL) said on Saturday that its Initial Public Offering (IPO) would open on October 4 and close on October 7. The shares on offer have been priced at Rs. 56-59 apiece, it said.
EMIL said its operating margins were the second highest, and that it had the highest turnover in the southern region compared to its peers in FY 21. Its revenue from operations grew at a compound annual growth rate (CAGR) of 17.90 per cent between FY 16 and FY 20. In FY 22 it crossed a milestone with its revenue from operations crossing Rs. 40,000 million, EMIL Said.
Bajaj Electronics was established by Pavan Kumar Bajaj way back in 1980 and its first retail store was at Lakdikapul in Hyderabad. Today it is being spearheaded by his son, Karan Bajaj, who has more than a decade’s experience in the retail business and continues to augment the brand’s growth as one of the fastest-growing consumer durables and electronics retailers in the country.
Bajaj Electronics currently has 112 stores (79 in Telangana and 25 in Andhra Pradesh) across 36 cities and has grown from a regional player to now having a retail presence of eight stores under the name of Electronics Mart in Delhi NCR. Despite the pandemic since April 1, 2022, it had opened nine new stores.
One hundred of the outlets are multi-brand stores and 12 are exclusive brand outlets. It houses two specialised stores under the name of Kitchen Stories, that have modular kitchen and premium kitchen appliances, and ‘Audio & Beyond,’ that focuses on high end home cinema and home automation solutions.
EMIL has over 6,000 stock keeping units (SKUs) across more than 70 brands and offers a diversified range of products with a focus on large appliances.