Electronics Mart to raise Rs 500 cr via IPO

Hyderabad-based consumer durables retail chain Electronics Mart India Ltd, which runs Bajaj Electronics, on Wednesday said it has filed the draft red herring prospectus (DRHP) with market regulator, Securities and Exchange Board of India (Sebi), to raise Rs 500 crore through an initial public offering (IPO). The company intends to utilise the net proceeds to fund its capital expenditure and working capital requirements along with debt payment and general corporate purposes.