Unlisted shares of Fonebox Retail Ltd are trading Rs 120 higher in the grey market, which is a 171.43 per cent listing gain from the public issue.
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Fonebox Retail IPO: The initial public offering of Fonebox Retail Ltd, which was opened for public subscription on Thursday, January 25, has received a decent response from investors. The IPO will remain open till Tuesday, January 30. Till 10:57 am on the second day of bidding on Monday, the Rs 46.08-crore SME IPO received 51.67 times subscription, garnering bids for 84,68,000 shares as against 19,38,000 shares on offer.
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The retail category has received an overwhelming 200.71 times subscription and the non-institutional investor (NII) category quota got 17.46 times subscription. The QIB quota got 0.05 times subscription.
The allotment of Fonebox Retail IPO will take place on January 31, while its listing will take place on the NSE SME on February 2, 2024.
Fonebox Retail IPO GMP Today
According to market observers, unlisted shares of Fonebox Retail Ltd are trading Rs 120 higher in the grey market as compared with its issue price. The Rs 120 grey market premium or GMP means the grey market is expecting a 171.43 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Fonebox Retail IPO Details
Fonebox IPO is a Rs 20.37-crore IPO and is entirely a fresh issue of 29.1 lakh shares.
The price band of the Fonebox IPO has been fixed at Rs 66 to Rs 70 per share. The minimum lot size for an application is 2,000 shares. The minimum amount of investment required by retail investors is Rs 1,40,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to Rs 2,80,000.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Fonebox Retail IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Fonebox Retail IPO is Spread X Securities.
