The allotment of SME initial public offering (IPO) of Fonebox Retail has likely been finalised. Investors who applied for the issue can check the allotment status by visiting the NSE. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

Here’s how you can check the status on NSE:

Step 1: Visit the NSE IPO login page and register/sign-up in case you are a new user.

Step 2: On registration, the investor will receive an email notification from NSE on the registered email address providing the login details. Log-in using the details.

Step 3: Provide your PAN details. The user shall be able to view the details of the bids entered against the registered PAN number.

Fonebox Retail IPO subscription status

The initial public offering (IPO) of Fonebox Retail was oversubscribed at 437.79 on the final day. The issue received over 127.39 crore share bids at the issue closing time against 29.1 lakh equity shares available for subscription. The retail individual investors portion received 85.60 crore shares bids against the reserved quota while the non-institutional investors got over 34.08 crore share bids by 5 pm as per the data available on the NSE. Meanwhile, the qualified institutional buyers’ (QIB) portion received over 7.71 lakh share bids.Read more: Gabriel Pet Straps IPO: Check issue size, price band and other details

Fonebox Retail IPO anchor allotment

The company raised Rs 5.78 crore via anchor allotment in which 682,000 shares were alloted to NAV Capital VCC – NAV Capital Emerging Star Fund at a bid price of Rs 70 per share. The company also allotted 144,000 shares to LC Radiance Fund VCC.

Fonebox Retail IPO Issue size

The IPO is entirely a fresh equity issue of up to 29.1 lakh equity shares aggregating to Rs 20.37 crore.

Also read: Docmode Health Technologies IPO: Check status, GMP, listing date and other details

Fonebox Retail IPO Price band

The company is offering its shares at Rs 66-70 apiece, and investors can bid for 2,000 shares in 1 lot.

Fonebox Retail IPO GMP

The shares of Fonebox Retail were commanding a premium (GMP) of Rs 125-130 in the grey market.

Fonebox Retail IPO Issue structure

The offer comprises a fresh issue of 29,10,000 Equity Shares with a face value of Rs 10/- through the book-building route. As many as 13,78,000 Equity Shares have been reserved for the QIB Quota, including Anchor Reservation, 4,16,000 Equity Shares for the HNI portion, 9,70,000 Equity Shares allocated for the Retail Quota and Market Maker Quota accounts for 1,46,000 Equity Shares.

Fonebox Retail IPO Important dates

The IPO opens on January 25 and will close on January 30. Anchor book will open on Wednesday, January 24, 2024. Basis of allotment will be finalised on January 31, Wednesday while initiation of refunds and transfer of shares to demat accounts are likely to be done on February 1, Thursday. The stock is expected to get listed on NSE Emerge on February 2, Friday.

About Fonebox Retail

The company sells smartphones and allied accessories from manufacturers like Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG and Micromax. The company also offers consumer durable electronic goods like laptops, washing machines, smart TVs, air conditioners and refrigerators from popular brands, including TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme and OnePlus in its multi-brand stores across Gujarat.

The company operates a large network of 143 multi-brand outlets under three brand names: Fonebox, Fonebook and MyMobile, in more than 20 cities across Gujarat.

Fonebox Retail Promoters

Fonebox Retail is promoted by a group of dynamic and experienced entrepreneurs – Manishbhai Girishbhai Patel, Jigar Lallubhai Desai, Parth Lallubhai Desai, Jigneshkumar Dashrathlal Parekh and Amitkumar Gopalbhai Patel.

Fonebox Retail’s Financial performance

The retailer posted a total revenue of Rs 139.75 crore and a profit (PAT) of Rs 1.55 crore in the first half of the current financial year ending September 30, 2023. Its revenue grew to Rs 195.82 crore in FY 2022-23, up from Rs 90.90 crore in the previous financial year. In FY2022-23, Fonebox Retail reported a profit (PAT) of Rs 1.59 crore, compared to Rs 12.79 Lakh in FY 2021-22.

Fonebox Retail’s objects of the offer

The net proceeds from the public offer will be used for its working capital requirements, for general corporate purposes and public issue expenses.

Fonebox Retail plans to invest Rs 13.5 crore to expand its retail store network to more cities in Gujarat. The company proposes to spend the remaining capital on acquiring land to build corporate headquarters, hiring human resources in marketing and technical departments, servicing repayment obligations under existing and future financing arrangements and funding future growth opportunities.

Fonebox Retail IPO Lead managers and Registrar
Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and KFIN Technologies Limited is the Registrar of the Issue.

(You can now subscribe to our ETMarkets WhatsApp channel)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

(You can now subscribe to our ETMarkets WhatsApp channel)


Source link