The Initial Public Offering (IPO) of consumer durables retail chain Electronics Mart India was subscribed 1.69 times on the first day of offer on Tuesday.
The IPO received bids for 10,58,09,796 shares against 6,25,00,000 shares on offer, according to the data available with the NSE.
The category for Retail Individual Investors (RIIs) received 1.98 times subscription, while that of Qualified Institutional Buyers (QIBs) got subscribed 1.68 times.
The portion for non-institutional investors received 1.04 times subscription.
The IPO consists of a fresh issue of equity shares aggregating to ₹500 crore, with no offer for sale component.
Price range for the offer is at ₹56-59 per share.
Electronics Mart India Ltd (EMIL) was founded by Pavan Kumar Bajaj and Karan Bajaj as a proprietary concern with a consumer durables and electronics store under the name of Bajaj Electronics.