Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Markets / Ipo/  FoneBox Retail IPO: Check GMP, subscription status on day 3, other key details
BackBack

FoneBox Retail IPO: Check GMP, subscription status on day 3, other key details

FoneBox Retail IPO: FoneBox Retail IPO received stellar response from retail investors and non-institutional investors on the second day of bidding.

FoneBox Retail IPO was subscribed 14.88 times on day one. Photo: iStockphotoPremium
FoneBox Retail IPO was subscribed 14.88 times on day one. Photo: iStockphoto

FoneBox Retail IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) Fonebox Retail Limited received stellar from investors on Tuesday, January 30, as the public issue was subscribed 659.42 times on the third and final day of bidding. FoneBox Retail IPO opened for subscription on Janaury 25 and closed on January 30.

FoneBox Retail IPO received outstanding response from all three groups-- retail investors, non-institutional investors (NIIs) and qualified institutional buyers (QIBs), on the third day of bidding.

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.

FoneBox Retail IPO Subscription Status:

FoneBox Retail IPO has received bids for 35,29,94,000 shares against 19,38,000 shares on the offer. FoneBox Retail IPO has reserved not more than 50 per cent of the shares in the public issue for QIB, not less than 15 per cent for NII, and not less than 35 per cent of the offer is reserved for retail investors.

On the third day, the retail category was subscribed over 886.32 times, received 85,97,34,000 applications against offered 970,000 shares for this segment. Meanwhile, NII and QIB portions were subscribed 819.99 times and 138.69 times.

Also Read: FoneBox Retail IPO: Price band set at 66-70 per share; check GMP, issue details, key dates

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. The multi-brand smartphone retailer 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.

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.

Fonebox Retail IPO GMP today

Fonebox Retail IPO GMP today or grey market premium is 120. This indicates Fonebox Retail share price were trading at a premium of 120 in the grey market on Tuesday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of 190 apiece, which is 171.43 per cent higher than the IPO price of 70. 'Grey market premium' indicates investors' readiness to pay more than the issue price.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 25 Jan 2024, 07:39 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App