Fonebox Retail Ltd Share Price – NSE

Retail, Small Cap

Fonebox Retail will hold a meeting of the Board of Directors of the Company on 29 May 2024

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The scrip was listed at Rs 200, a premium of 185.71% compared with the initial public offer (IPO) price. The stock was currently frozen in an upper limit of 5% over its listing price.

The counter hit a high of Rs 210 and a low of Rs 190. About 15.28 lakh shares of the company changed hands at the counter.

The initial public offer (IPO) of Fonebox Retail received was subscribed 439.21 times. The issue opened for bidding on 25 January 2024 and it closed on 30 January 2024. The price of the IPO was fixed at Rs 66 to Rs 70 per share.

The IPO comprised fresh issue of 29,10,000 shares The promoter and promoter shareholding diluted to 71.64% from 100% pre-IPO.

The company intends to utilize the net proceeds to meet working capital requirements and general corporate purpose.

Ahead of the IPO, Fonebox Retail on 24 January 2024, raised Rs 5.78 crore from anchor investors. The board allotted 8.26 lakh shares at Rs 70 per share to 2 anchor investor.

Fonebox Retail is a multi-brand retailer specializing in consumer durable electronics such as laptops, washing machines, smart TVs, air conditioners, and fridges. They offer products from reputable brands including TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme, and OnePlus. Presently, the company operates 153 stores across Gujarat, with 40 being company-owned and company-operated retail outlets (COCO Model) and 113 operating under the franchise-owned and company-operated retail model (FOCO Model) in over 20 cities in the state. As of July 31, 2023, Fonebox Retail has a total of 130 employees.

The company recorded revenue from operations of Rs 195.82 crore and net profit of Rs 1.59 crore for the period as on 31 March 2023.

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