FoneBox Retail IPO: Check GMP, subscription status on day 1, other key details

livemint.com:

FoneBox Retail IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) Fonebox Retail Limited received mixed response from investors on Thursday, January 25, as the public issue was subscribed 14.88 times on the first day of bidding. FoneBox Retail IPO opened for subscription today and will close on January 29, 2023. FoneBox Retail IPO received mixed response from retail investors, non-institutional investors (NIIs) and qualified institutional buyers (QIBs) on the first day as the the portion reserved for QIBs was under-subscribed.

Fonebox Retail is a retailer of smartphones and accessories from manufacturers such as Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG, and Micromax. The company operates under two brand names Fonebook and Fonebox. The company is also engaged in multi-brand retailing of consumer durables such as laptops, washing machines, smart TVs, air conditioners, refrigerators, etc.

from brands such as TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme, and OnePlus. Fonebook IPO is a book built issue of ₹20.37 crore. The issue is entirely a fresh issue of 29.1 lakh shares.

The multi-brand smartphone retailer has fixed the price band for the issue at ₹66 - ₹70 per equity share of face value of ₹10 each. The minimum lot size for an application is 2,000 shares, which means investors can bid for a minimum of 2,000 shares and in multiples thereof. FoneBox Retail IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional institutional investors (NII), and not less than 35 per cent of the offer is reserved for retail investors.