Fonebox Retail Limited IPO Closed

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IPO date 25 Jan 2024 – 30 Jan 2024
Listing date 02 Feb 2024
Price range 66 – 70
Minimum order quantity 2000
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Fonebox Retail Limited is launching its IPO. The IPO opens for subscription on 25th January and will close on 30th January 2024.

Disclaimer: This stock will trade with a lot size of 2000 shares in the SME segment on the listing.

What does Fonebox Retail Limited do?

Incorporated in 2021, Fonebox Retail Limited operates a diversified business model, specializing in the multi-brand retail of mobile handsets, mobile accessories, and a variety of consumer-durable home appliances. These include smart TVs, laptops, air conditioners, and more. The company’s product range features items from renowned manufacturers such as Vivo, Apple, Samsung, Oppo, and others.

The company has expanded its presence through acquisitions and organic growth, acquiring mobile phone retail store brands like “Fonebook” and “My Mobile” in 2021. As of January 2024, the company operates 143 stores in Gujarat, utilizing two business models: Company Owned and Company Operated (COCO) and Franchise Owned and Company Operated (FOCO).

Also, the company provides credit/EMI facilities to customers, in collaboration with financial institutions such as Bajaj Finance, HDB Financial Service, HDFC Bank, and IDFC First Bank.

Schedule of Fonebox Retail Limited IPO

Issue Period 25th January to 30th January 2024
Deadline for accepting UPI mandate  Until 5 PM on the issue closing day
Finalization of Allotment January 31, 2024
Initiation of Refunds February 01, 2024
Credit of Shares February 01, 2024
Date of Listing February 02, 2024
Mandate end date February 14, 2024
Anchor Investors Lock-In End Date (50% of the investment) February 29, 2024
Anchor Investors Lock-In End Date (Remaining investment) April 29, 2024

Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.

How to apply to the Fonebox Retail Limited IPO?

You can apply for the Fonebox Retail Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept the UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

How to check the allotment status for the Fonebox Retail Limited IPO?

You can check the allotment status for the Fonebox Retail Limited IPO on the website of the Registrar and Transfer agent.