Electronics Mart India IPO subscribed 71.93 times on last day of bidding

Electronics Mart India IPO subscribed 71.93 times on last day of bidding

IPO subscription for Rs 500 crore Electronics Mart India IPO closed on Friday. Till the time the subscription closes, it has got a strong response from investors. The IPO has been subscribed 71.93 times. EMI’s IPO has received an overwhelming response from qualified institutional bidders. The issue received bids for 4,49,53,64,644 shares, which was 71.93 times the issue size of 6,25,00,000 shares.

IPOs in the QIB category saw 169.54 times the bids, while the quota reserved for non-institutional investors (NIIs) and retail individual investors (RIIs) was subscribed 63.59 times and 19.71 times, respectively.(Credenttv.com)

According to the red herring documents filed with the RoC, the allotment for the IPO is likely to take place on October 12 (Wednesday). The refund is likely to start on October 13 (Thursday) and the shares in the demat accounts are likely to be credited by October 14 (Friday). The shares of Electronic Mart India may get listed on the stock exchanges on October 17 (Monday).

During the IPO issue, its premium (GMP) in the gray market was being reported around Rs 34, which was earlier between Rs 27-30 per share. Investors who have bid for the IPO on October 12 can check the allotment status on the BSE website.