Home IPO Key Details about Fonebox Retail SME IPO Financials GMP & More

Key Details about Fonebox Retail SME IPO Financials GMP & More

by smtfin

Key Details about Fonebox

Issue Date25 to 30 Jan, 2024
Issue SizeRs. 20.37 crore
Fresh IssueRs. 20.37 crore
Price BandRs. 66 to 70 per share
Lot Size2000 Shares
Employee DiscountNil per share
Face Value₹10 per share
Issue TypeBook Built Issue Type
Listing AtNSE SME
QIB shares offered5,56,000 (19.11%)
Retail shares offered4,14,600 (14.25%)
NII shares offered9,67,400 (33.24%)

Lot Size (Minimum)

Retail2000 sharesRs. 140,000
HNI4000 sharesRs. 2,80,000

Tentative IPO Timelines

Basis of Allotment31 Jan, 2024
Initiation of Refunds01 Feb, 2024
Credit of shares to Demat01 Feb, 2024
Listing Date02 Feb, 2024

About the Company

Fonebox Retail Limited is a multi-brand 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.

As of September 25, 2023, the company had a total of 153 stores in the state of Gujarat. Of these, 40 are company-owned and company-operated retail stores (“COCO model”) and 113 are under the franchisee and company-operated model (“FOCO model”) spread across more than 20 cities in Gujarat.

As on July 31, 2023, the company employed a total of 130 people.

Objects of the Issue

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

  1. To Meet Working Capital Requirements
  2. General corporate purposes
  3. To meet Public Issue Expenses

IPO Promoter Holding

The Promoters of the company are:                                                                  

  1. Mr. Manishbhai Girishbhai Patel
  2. Mr. Jigar Lallubhai Desai
  3. Mr. Parth Lallubhai Desai
  4. Mr. Jigneshkumar Dashrathlal Parekh
  5. Mr. Amitkumar Gopalbhai Patel 
Pre-Issue shareholding100%
Post issue shareholding71.64%

Financial Summary                                                                                                         Amount in Rs. crores

ParticularsMarch 2023March 2022March 2021
Net Profit / (Loss)1.550.13(0.02)
Total Assets43.4221.110.71

GMP / Expected Premium

GMP as on 27-01-2024 is 143%.. Once may apply in Fonebox Retail IPO for listing gains.

Please note GMP is taken from internet and is subject to change in future. Please consult your financial advisor before applying in the IPO.

Disclaimer: The information above is only for information and educational purpose. Please note SME IPO’s are generally risky as they have low liquidity and traded in lot sizes after listing. Please consult your Financial advisor before applying in the IPO.

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