Electronics Mart India Ltd IPO lists at premium of 52.5% but tops out

Electronics Mart India Ltd had a strong listing on 17th October 2022, listing at a premium of 52.5%, and closing the day well above the issue price; albeit below the listing price. While the stock did show some bouts of volatility during the day, it closed the day with a strong rally on its shoulders and a robust return on the investment. With overall subscription of 71.93X  and with QIB subscription at 169.54X, the listing was expected to be strong. Here is the Electronics Mart India Ltd listing story on 17th October 2022.

The IPO price was fixed at the upper end of the band at Rs.59 per share considering the 71.93X overall subscription. The price band for the IPO was Rs.56 to Rs.59. On 17th October, the stock of Electronics Mart India Ltd listed on the NSE at a price of Rs.90, a premium of 52.5% above the issue price of Rs.59. On the BSE also, the stock listed at Rs.89.40 a premium of 51.5% on the issue price.

On the NSE, Electronics Mart India Ltd closed on 17th October 2022 at a price of Rs.83.70, a first day closing premium of 41.86% on the issue price of Rs59. On the BSE, the stock closed at Rs.84.45, a first day closing premium of 43.14% on the issue price but the closing price was -5.54% below the listing price as the stock almost topped out after listing. On both the exchanges, the stock not only listed above the IPO issue price but closed Day-1 at a substantial premium to the issue price, albeit slightly below the opening price of the IPO.

On Day-1 of listing, Electronics Mart India Ltd touched a high of Rs.91 on the NSE and a low of Rs.83.10. The premium held through the day. On Day-1 of listing, the Electronics Mart India Ltd stock traded a total of 880.26 lakh shares on NSE amounting to value of Rs.766.35 crore.  On 17th October 2022, Electronics Mart India Ltd was the 6th most active share on NSE by traded value and by traded volumes, the stock was the 02nd most liquid.

On the BSE, Electronics Mart India Ltd touched a high of Rs.91 and a low of Rs.83.20. On BSE, the stock traded a total of 59.32 lakh shares amounting to value of Rs.51.60 crore. It was mot ranked anywhere in the top 30 in terms of traded value. However, by traded volumes, the stock ranked 18th on the BSE.
At the close of Day-1 of listing, Electronics Mart India Ltd had a market capitalization of Rs.3,249.20 crore with free-float market cap of Rs.487.38 crore.