• IPO proceeds deployment: The company plans to use the ₹360 crore fresh issue proceeds to fund 115 of its 240 planned store openings over the next two years, finance ₹12.5 crore in capex, fulfill working capital needs, and lower existing debt.
• Financial performance: Management defended its valuation by highlighting a revenue rise from ₹1,200 crore to ₹2,350 crore at a 40%+ CAGR, a 49%+ PAT CAGR, same-store sales growth above 11%, and a ROCE exceeding 30%.
• Geographic expansion: To reduce reliance on Maharashtra—which currently accounts for 458 of its 536 stores—future store additions will focus primarily outside the state across existing markets in Goa, Gujarat, Karnataka, Madhya Pradesh, and Chhattisgarh using a cluster-based strategy.
• Product diversification: The company is reducing mobile dependence from 86% by expanding into higher-margin categories such as accessories, protection plans, and pre-owned devices, which have reached a 7% revenue share in three years.