Fonebox Retail IPO to open on Thursday. Check issue size, price band and other details
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View Details»1) About Fonebox Retail
The company sells smartphones and allied accessories from manufacturers like Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG and Micromax. The company also offers consumer durable electronic goods like laptops, washing machines, smart TVs, air conditioners and refrigerators from popular brands, including TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme and OnePlus in its multi-brand stores across Gujarat.
The company operates a large network of 143 multi-brand outlets under three brand names: Fonebox, Fonebook and MyMobile, in more than 20 cities across Gujarat.
2) Fonebox Retail IPO Issue size
The IPO is entirely a fresh equity issue of up to 29.1 lakh equity shares aggregating to Rs 20.37 crore.
3) Fonebox Retail IPO Price band
The company is offering its shares at Rs 66-70 apiece, and investors can bid for 2,000 shares in 1 lot.
4) Fonebox Retail's Financial performance
The retailer posted a total revenue of Rs 139.75 crore and a profit (PAT) of Rs 1.55 crore in the first half of the current financial year ending September 30, 2023. Its revenue grew to Rs 195.82 crore in FY2022-23, up from Rs 90.90 crore in the previous financial year. In FY2022-23, Fonebox Retail reported a profit (PAT) of Rs 1.59 crore, compared to Rs 12.79 Lakh in FY2021-22.
5) Objects of the offer
The net proceeds from the public offer will be used for its working capital requirements, for general corporate purposes and public issue expenses.
Fonebox Retail plans to invest Rs. 13.5 crore to expand its retail store network to more cities in Gujarat. The company proposes to spend the remaining capital on acquiring
