FoneBox Retail IPO: Price band set at ₹66-70 per share; check GMP, key dates
FoneBox Retail IPO: The initial public offering (IPO) of multi-brand smartphone retailer Fonebox Retail Limited will open for subscription on January 24, 2024. The small- and medium-sized enterprise (SME) IPO will remain open for bidding till January 29, 2024. The company has fixed the price band for the issue at ₹66 – ₹70 per equity share of face value of ₹10 each.
The minimum lot size for an application is 2,000 shares, which means investors can bid for a minimum of 2,000 shares and in multiples thereof. FoneBox Retail IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional institutional investors (NII), and not less than 35 per cent of the offer is reserved for retail investors.
The allotment for the Fonebook IPO is expected to be finalized on Tuesday, January 30, 2024 while the shares will be credited to the demat account of allottees on the same day following refund. Fonebook IPO will list on NSE SME with tentative listing date fixed as Thursday, February 1, 2024.
Manishbhai Girishbhai Patel, Jigar Lallubhai Desai, Parth Lallubhai Desai, Jigneshkumar Dashrathlal Parekh and Amitkumar Gopalbhai Patel are the promoters of the company.
Fonebox Retail is a retailer of smartphones and accessories from manufacturers such as Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG, and Micromax. The company operates under two brand names Fonebook and Fonebox.
The company is also engaged in multi-brand retailing of consumer durables such as laptops, washing machines, smart TVs, air conditioners, refrigerators, etc. from brands such as TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme, and OnePlus.
The company offers credit/EMI facilities to its customers for the purchase of its products for which the company has tied up with major leading financial institutions like Bajaj Finance, HDB Financial Service, HDFC Bank and IDFC First Bank.
FoneBox Retail IPO Details
Fonebook IPO is a book built issue of ₹20.37 crore. The issue is entirely a fresh issue of 29.1 lakh shares.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Fonebook IPO, while Kfin Technologies Limited is the registrar for the issue.
The company will utilize the proceeds from the fresh issue towards meeting working capital requirements, general corporate purposes and for public issue expenses.
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Published: 18 Jan 2024, 05:39 PM IST