Fonebox retail IPO: Fonebox Retail Ltd’s initial public offering opened for public subscription on Thursday, January 25, and has received a good response from investors. The IPO will run until Tuesday, January 30. As of 10.57 am on the second day of bidding on Monday, the Rs 460.8-crore SME IPO received 51.67 times subscription and fetched bids for 84,68,000 shares as against the previous bid of 19,38,000 shares on sale.
The retail category was overwhelmingly subscribed 200.71 times, and the non-institutional investor (NII) category quota was subscribed 17.46 times. The QIB quota was subscribed 0.05 times.
The rights issue of Fonebox Retail IPO will take place on January 31, while its listing will take place on NSE SME on February 2, 2024.
Fonebox Retail IPO GMP Today
According to market observers, unlisted shares of Fonebox Retail Ltd are trading in the gray market at a premium of Rs 120 above its issue price. The Gray Market Premium or GMP of Rs 120 means that Gray Market expects the listing proceeds of the public issue to be 171.43%. GMPs are based on market sentiment and are constantly changing.
The “grey market premium” indicates that investors are willing to pay more than the issue price.
Fonebox Retail IPO Details
The Fonebox IPO size is Rs 20.37 crore, which is entirely new issue of 2.91 million shares.
The price range for the Fonebox IPO has been fixed at Rs 66-70 per share. The minimum lot size requested is 2,000 shares. The minimum investment required by retail investors is Rs 1,40,000. The minimum investment lot size for HNI is 2 lots (4,000 shares) and the amount is Rs. 2,80,000.
Beeline Capital Advisors Pvt Ltd is the lead bookkeeping manager for the Fonebox Retail IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for the Fonebox Retail IPO is Spread X Securities.
Follow us on Google news ,Twitter , and Join Whatsapp Group of thelocalreport.in
