24-Jan-2024
2 mins read
Fonebox Retail Limited (Fonebook) IPO SME 2024 will open for subscription from January 25, 2024 Thursday to January 30, 2024 Tuesday. The price band is set at Rs 66 to Rs 70 per share. The minimum lot size of this IPO is 2000 shares. The minimum lot size of this IPO is 2000 shares. Whereas, the minimum lot size for the HNI category is (2 lot) 4000 shares. The minimum amount of investment required for retail investors is Rs 1,40,000. (70 x 2000 shares). However for HNI category the minimum investment amount is required Rs 2,80,000 (70 x 4000 shares). Fonebox Retail Limited (Fonebook) IPO 2024 is a book-built issue of Rs 20.37 crore. This issue is entirely fresh issue consists of 29.1 lakh equity shares. The allotment for this IPO is expected to be finalized on Wednesday, January 31, 2024. Fonebox Retail IPO will list on NSE SME and listing date decided on Friday, February 2, 2024. The book running lead manager of Fonebox Retail Limited is Beeline Capital Advisors Pvt Limited. The registrar for this IPO is Kfin Technologies Limited. The market maker for the Fonebox Retail IPO is Spread X securities.
About Fonebox Retail Limited
Fonebox Retail Limited is engaged in the business of multi- brand retail chains selling smartphones and accessories. Fonebook sells smartphones of prominent brands like Samsung, OPPO, Apple, Redmi, Motorola, LG, Micromax. Additionally, they are also engaged in business selling consumer durables like Laptop, AC, Washing Machine, Refrigerators etc. of brands like Voltas, Realme, Mi, Haier etc. Fonebook has a portfolio of retail stores with different brands. Company started its operations with a brand name Fonebox for their company owned stores as well as for franchises. Later, to expand the business, the company acquired famous mobile phone retail store brands like “Fonebook” and “My Mobile” in 2021. Over the years, they have expanded their operations by aggressive acquisitions. As of January 2024, the company operates 124 stores from Gujarat. Out of 143, 39 stores are company owned and other 104 are franchise.
Objectives of Fonebox IPO 2024
The funds raised from this issue will allow the company to meet the working capital requirements. Moreover, the company will look to improve their retail chains to provide satisfaction to the customer needs. Also, the proceeds from the issue will be used for the general corporate purposes and to meet Public Issue expenses like Underwriting selling commissions, printing and distribution expenses, Legal Fee, Advertisement expenses, Registrar’s Fee, Depository Fee and Listing Fee.
Financial Performance of Fonebox Limited
Fonebox Retail Limited’s revenue increased by 115.85% and profit after tax increased by 1149.88% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 4,342.27 | 3,861.05 | 2,110.70 | 71.08 |
| Revenue | 14,022.98 | 19,626.09 | 9,092.33 | 9.92 |
| Profit After Tax | 155.19 | 159.86 | 12.79 | -2.36 |
| Net Worth | 916.72 | 210.26 | 60.23 | 12.38 |
| Reserves and Surplus | 190.48 | 170.29 | 10.43 | -2.36 |
| Total Borrowing | 506.57 | 1,058.22 | 584.26 | |
| Amt. in Lakhs |
Other Important Details of Fonebox Limited IPO
| IPO Date | January 25, 2024 to January 30, 2024 |
| Listing Date | February 2, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,910,000 shares (amounting to ₹20.37 Crore) |
| Fresh Issue | 2,910,000 shares (amounting to ₹20.37 Crore) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 7,350,000 |
| Shareholding post issue | 10,260,000 |
| Market Maker portion | 146,000 shares Spread X Securities |
Lot Size of Fonebox Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
IPO Reservation of Fonebox Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Promoters of Fonebox Limited IPO
The promoters of Fonebox Retail Limited are Mr. Manishbhai Girishbhai Patel, Mr. Jigar Lallubhai Desai, Mr. Parth Lallubhai Desai, Mr. Jigneshkumar Dashrathlal Parekh And Mr. Amitkumar Gopalbhai Patel.
Promoter Holdings of Fonebox Limited IPO 2024
| Shareholding Pre Issue | 100% |
| Shareholding Post Issue | 71.64% |
Anchor Investors Details of Fonebox Limited IPO 2024
| Bid Date | 24-Jan-24 |
| Shares Offered | 826,000 |
| Anchor Portion Size (In Cr.) | 5.78 |
| Anchor lock-in period end date for 50% shares (30 Days) | 14-Mar-24 |
| Anchor lock-in period end date for remaining shares (90 Days) | 13-Jun-24 |
Key Performance Indicator of Fonebox Limited IPO 2024
| Key Performance Indicator | Values |
| ROE | 118.20% |
| ROCE | 34.55% |
| Debt/Equity | 5.03 |
| RoNW | 76.15% |
| P/BV | 1.66 |
Lead Manager(s) of Fonebox Limited IPO 2024
The lead manager for Fonebox Limited IPO is Beeline Capital Advisors Pvt Ltd (Past IPO Performance)
How to Apply for Fonebox Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Fonebox Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Fonebox Limited IPO 2024
The registrar for Fonebox Limited IPO is Kfin Technologies Limited.To check your allotment status, please click on this link https://ris.kfintech.com/ipostatus/
FAQs
- What is Fonebox Limited IPO 2024?
Fonebox Retail Limited (Fonebook) IPO 2024 is a book-built issue of Rs 20.37 crore. This issue is entirely fresh issue consists of 29.1 lakh equity shares. The price for this issue is Rs 66 to Rs 70 per share. The allotment for this IPO is expected to be finalized on Wednesday, January 31, 2024.
- Who are the lead managers for the Fonebox Limited IPO 2024?
Beeline Capital Advisors Pvt Limited are appointed as the lead managers for the IPO.
- What is the role of Kfin Technologies Limited In this IPO?
Kfin Technologies Limited is the registrar for the Fonebox Limited handling the IPO’s administrative aspects.
- How can I apply for the Fonebox Limited IPO 2024?
The public subscription of this IPO has already begun. Visit Bigul website here for the application process.
- How will the net proceeds from the IPO be utilized?
The funds raised will be used to meet the working capital requirements. Also, the proceeds from the issue will be used for the general corporate purposes and to meet Public Issue Expenses like Underwriting selling commissions, printing and distribution expenses, Legal Fee, Advertisement expenses, Registrar’s Fee, Depository Fee and Listing Fee.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Fonebox Limited IPO 2024 by visiting https://ris.kfintech.com/ipostatus/
- What is the financial performance of Fonebox Limited?
Fonebox Retail Limited’s revenue increased by 115.85% and profit after tax increased by 1149.88% between the financial year ending with March 31, 2023 and March 31, 2022.