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The stock of Fonebox Retail was listed at a premium of 186% at Rs 200 on the NSE on Friday against the issue price of Rs 70. The uptick in stock continued as it hit the day's high of Rs 210. At 12:15 pm, it was trading at Rs 207, up by Rs 7 or 3.50% over the listing price.
Fonebox IPO allotment Status: Investors can check the allotment status of the SME initial public offering (IPO) of Fonebox Retail on the NSE. The IPO of Fonebox Retail was oversubscribed at 437.79, with over 127.39 crore share bids received against 29.1 lakh equity shares available for subscription. The retail individual investors portion received 85.60 crore shares bids, while the non-institutional investors got over 34.08 crore share bids. The company raised Rs 5.78 crore via anchor allotment, and the IPO is a fresh equity issue of up to 29.1 lakh equity shares.
The retail individual investors portion received 39.22 crore shares bids against the reserved quota while the non-institutional investors got over 9.07 crore share bids as per the data available on the NSE. Meanwhile, the qualified institutional buyers' (QIB) portion received over 21.72 lakh share bids.
Fonebox Retail's IPO, offering up to 29.1 lakh equity shares at Rs 66-70 per share, opened for subscription and will close on January 30. The company sells smartphones, accessories, and consumer durable electronic goods from popular brands. It operates 143 multi-brand outlets across Gujarat. In the first half of the current financial year, it reported a revenue of Rs 139.75 crore and a profit of Rs 1.55 crore. The net proceeds from the IPO will be used for working capital requirements, expansion, and corporate purposes.