India has recently seen a surge in Initial Public Offerings (IPOs), with Fonebox Retail being among the latest companies to go public. For investors who have applied for the IPO, it is now possible to check the allotment status on the National Stock Exchange (NSE) to see how many shares they have been allocated in comparison to the bids placed. The allotted status can be checked on the NSE website, giving investors an idea of how many shares they will receive.
Fonebox Retail saw tremendous interest from investors, as the IPO was oversubscribed, with over 127.39 crore shares being received against the available 29.1 lakh equity shares. The company raised 5.78 crore rupees through anchor allotment, with 682,000 shares being allotted to NV Capital VC – NV Capital Emerging Star Fund at a bid price of 70 rupees per share.
The IPO, which was open from January 25th to January 30th, was priced at 66-70 rupees per share. The IPO size was 20.37 crore rupees, and the offer included a fresh issue of 29,10,000 equity shares.
Fonebox Retail is a major player in the retail market, selling smartphones and related accessories of popular brands such as Vivo, Apple, Samsung, Oppo, Realme, Nokia, and more. The company also offers a variety of consumer durable electronics in their multi-brand stores located in over 20 cities in Gujarat.
The company’s IPO has been managed by Beeline Capital Advisors Private Limited as the lead manager and KFIN Technologies Limited as the registrar. The funds raised through the public offering will be used for the company’s working capital requirements, general corporate purposes, and public issue expenses.
The IPO allotment has already taken place, and those who have been allocated shares will see the share transfer to their demat accounts by February 1st. The stock is expected to be listed on the National Stock Exchange (NSE) on February 2nd. The success of Fonebox Retail’s IPO demonstrates the growing investor interest in India’s retail and consumer electronics sector.
News Highlight :
– NSE IPO has closed for Fonebox Retail
– Investors who applied for the IPO can check the allotment status on the NSE
– The company raised 5.78 crore rupees through anchor allotment
– The IPO is expected to be listed on NSE on February 2nd, 2024
– Fonebox Retail is involved in selling smartphones, accessories, and consumer electronics in Gujarat
– The lead manager for the IPO is Abilene Capital Advisors Pvt. Ltd.
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