Fonebox Retail SME IPO
Basic information about the company: Fonebox Retail Limited has emerged as a prominent player in the ever-evolving consumer electronics landscape, offering a diverse range of smartphones, accessories, and consumer durables. With a footprint in Gujarat, the company operates under two brand names – Fonebook and Fonebox, providing customers with a one-stop destination for their tech needs. Product Portfolio: Fonebox Retail Limited prides itself on being a multi-brand retailer, showcasing top-notch products from leading manufacturers such as Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG, and Micromax. The company extends its offerings beyond smartphones, including laptops, washing machines, smart TVs, air conditioners, and refrigerators, featuring renowned brands like TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme, and OnePlus. Financial Facilitation: Recognizing the importance of financial flexibility for customers, Fonebox has strategically partnered with major financial institutions like Bajaj Finance, HDB Financial Service, HDFC Bank, and IDFC First Bank. This enables customers to avail of credit and EMI facilities, making high-quality tech products accessible to a broader audience. Promoter Holding: The driving force behind Fonebox is a group of visionaries – Mr. Manishbhai Girishbhai Patel, Mr. Jigar Lallubhai Desai, Mr. Parth Lallubhai Desai, Mr. Jigneshkumar Dashrathlal Parekh, and Mr. Amitkumar Gopalbhai Patel, who collectively hold the reins as the company's promoters. The pre-issue shareholding is at 100%, while post-issue, it stands at 71.64%. Objects of the Issue: The IPO proceeds, primarily from the Fresh Issue, are earmarked for working capital requirements and general corporate purposes. This strategic allocation underscores Fonebox's commitment to sustainable growth and resilience in a dynamic market. Fonebook SME IPO
IPO Date: 25 to 30 Jan 2024
Price Band: ₹66 to ₹70 per share
Lot Size: 2,000 Shares
Amount Per Lot: ₹1,40,000
Issue Size: ₹20 Crs
Retail Quota: 35%
GMP: +70% (Only for information)
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