Fonebook Retail Limited is set to debut on the stock market with its Initial Public Offering (IPO) to raise ₹20.37 crores. The IPO is entirely a fresh issue of 29.1 lakh shares, and Fonebook seeks to utilize the proceeds for various strategic objectives.
**Key Details of Fonebook IPO:**
– **IPO Dates:** January 24, 2024, to January 29, 2024
– **Price Band:** ₹66 to ₹70 per share
– **Lot Size:** 2000 Shares
– **Total Issue Size:** 2,910,000 shares (aggregating up to ₹20.37 Cr)
– **Fresh Issue:** 2,910,000 shares (aggregating up to ₹20.37 Cr)
– **Issue Type:** Book Built Issue IPO
– **Listing Venue:** NSE SME
– **Listing Date:** Tentatively set for Thursday, February 1, 2024
**Reservation Breakdown:**
– **QIB:** Not more than 50.00% of the Net offer
– **Retail:** Not less than 35.00% of the Offer
– **NII (HNI):** Not less than 15.00% of the Offer
**Fonebook IPO Timeline:**
– **IPO Opens:** January 24, 2024
– **IPO Closes:** January 29, 2024
– **Basis of Allotment:** January 30, 2024
– **Refund Initiation:** January 31, 2024
– **Credit of Shares to Demat:** January 31, 2024
– **Listing Date:** February 1, 2024
**Lot Size and Investment:**
– **Retail (Min):** 1 lot (2000 shares) – ₹140,000
– **Retail (Max):** 1 lot (2000 shares) – ₹140,000
– **HNI (Min):** 2 lots (4,000 shares) – ₹280,000
**Promoter Holding:**
Mr. Manishbhai Girishbhai Patel, Mr. Jigar Lallubhai Desai, Mr. Parth Lallubhai Desai, Mr. Jigneshkumar Dashrathlal Parekh, and Mr. Amitkumar Gopalbhai Patel are the promoters of Fonebook.
**Company Background:**
As of September 25, 2023, Fonebook operates 153 stores in Gujarat, including 40 company-owned and company-operated retail stores (COCO model) and 113 under the franchisee and company-operated model (FOCO model) spread across more than 20 cities in Gujarat.
**Financial Performance:**
Fonebook Retail Limited demonstrated robust financial growth, with revenue increasing by 115.85%, and profit after tax (PAT) soaring by 1149.88% between the financial years ending March 31, 2023, and March 31, 2022.
**IPO Objectives:**
The proceeds from the fresh issue will be channeled towards meeting working capital requirements, general corporate purposes, and covering public issue expenses. This aligns with Fonebook’s strategic plan for expansion and sustained operational efficiency.
**Conclusion:**
Fonebook IPO presents an opportunity for investors to participate in a growing retail entity with a strong presence in Gujarat. The company’s financial performance and utilization of IPO proceeds for strategic objectives make it an interesting prospect in the dynamic retail sector.
