Cell Point India IPO: GMP, subscription status, other details. Apply or not?

Cell Point India IPO: The initial public offering (IPO) of Cell Point India Ltd has opened for subscription on 15th June 2023 and it will remain open till 20th June 2023. The SME company has offered its public issue at a fixed price of ₹100 per share and one lot of the issue will comprise 1200 company shares. 

Meanwhile, after opening of the public issue, grey market sentiments have gone northward. According to market observers, shares of Cell Point India IPO is available at a premium of ₹14 in grey market today.

Here we list out important details in regard to this  IPO:

1] Cell Point India IPO GMP today: According to market observers, Cell Point India IPO grey market premium (GMP) today is ₹14, which is ₹2 higher from its GMP of ₹12 on Wednesday.

2[ Cell Point India IPO price: The SME company is offering its public issue at a fixed price of ₹100 per share.

3] Cell Point India IPO date: The public issue will remain open till 20th June 2023.

4] Cell Point India IPO size: The SME company aims to raise ₹50.34 crore from its public offer through issuance of fresh 5,034,000 company shares.

5] Cell Point India IPO lot size: A bidder will be able to apply for the public issue in lots and one lot of the IPO will comprise 1200 company shares.

6] Cell Point India IPO allotment date: Finalisation of share allocation is expected on 23rd June 2023.

7] Cell Point India IPO listing: The SME IPO is proposed for listing on NSE SME exchange and the likely date for Cell Point India IPO listing is 29th June 2023.

8] Cell Point India IPO review: Giving 'buy' ag to medium and long term investors, Nikhil Bhatt, a SEBI registered analyst said, "Cell Points India has potential for long-term growth and profitability in the ever-evolving smartphone retail sector. Investors who are keen to be a part of this exciting opportunity can subscribe to Cell Point IPO through their preferred brokerage platforms or consult with financial advisors for guidance."

9] Cell Point IPO subscription status: By 12:26 PM on day 2 of bidding, the NSE SME IPO has been subscribed 1.43 times whereas its retail portion has been subscribed 1.20 times. The NII portion of the SME IPO has been subscribed 1.62 times.

As per the Draft Red herring Prospectus (DRHP) of the upcoming IPO, the public issue is coming at a P/E ratio of 4.41 as per annualised FY 23, where the profit jumped by 112 per cent in the past 9 Months of the FY23.

Financially, Cell Point has showcased consistent growth over the years. As of the latest financial results, its total assets stood at ₹90.64 crore, with a revenue of ₹221.67 crore. The company reported a substantial profit after tax of ₹5.80 crore. These strong financials underline Cell Point's solid foundation and growth potential. Cell Point has shown a significant growth in its financials where the Revenue grew by 20 per cent and the Profit jumped by 82 per cent from the year 2021 to 2022.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.