Fonebox Retail IPO Listing: Fonebox Retail made a blockbuster debut on stock market today, doubling investors money upon listing. Fonebox Retail shares were listed at ₹200.00 apiece on NSE SME, a hefty premium of 185% to the issue price of ₹70 per share.
The bidding for the Fonebox Retail IPO commenced on January 25 and concluded on January 30. The IPO allotment was finalized on Thursday, February 1 and the Fonebox Retail listing date was fixed on February 2.
Fonebox Retail IPO was an SME IPO with an issue size of ₹20.37 crore, comprising entirely a fresh issue of 29.1 lakh equity shares. The IPO price band was set at ₹66 to ₹70 per share and the minimum lot size for an application was 2,000 shares.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Fonebox IPO, while Kfin Technologies is the IPO registrar.
Fonebox Retail is a multi-brand retailer selling smart phones and allied accessories. It is also engaged in multi-brand retail selling of consumer durable electronics goods like Laptop, Washing Machines, Air Conditioners, Smart TVs, Fridges, etc.
The company proposes to utilise the net issue proceeds to meet working capital requirements and general corporate purposes
Ahead of the IPO listing Fonebox Retail IPO GMP today, or grey market premium today, was ₹130 per share, as per market observers. This was a premium of 185.71% to the issue price.
Fonebox IPO received robust demand from investors as the public issue was subscribed by 659.42 times in total during the bidding period. The IPO was booked 886.32 times in the retail category, 138.69 times in the Qualified Institutional Buyers’ (QIB) category and 819.99 times in the Non-Institutional Investors’ (NII) category by January 30.
