The initial share sale of Cell Point India will open for public subscription on June 15 and closes on June 10. Here are 10 things to know about the public offer
1) Company overview
The company is engaged in multi-brand retail selling of smartphones, tablets, mobile accessories and mobile related products and allied accessories of various brands such as Apple, Samsung, Oppo. It also sells some of the consumer durable electronics goods, specifically, smart televisions of various brands. All products sold under one roof through its 75 retail store chain located all over Andhra Pradesh.
2) Industry overview
Domestic mobile production is estimated to have grown 24-26% in fiscal 2022. Despite the ongoing chip shortage, three of the global manufacturers met PLI production targets during the fiscal. CRISIL Research expects the growth momentum in production to sustain, with a 22-26% CAGR between fiscals 2022 and 2024 to Rs 4-4.5 lakh crore in value terms.
3) Issue size
The IPO is completely a fresh equity issue of up to 50.34 lakh equity shares. There is no offer for sale (OFS) in the proposed public offer.
4) Price band
The company will offer its shares at a price band of Rs 100 per, planning to raise up to Rs 50 crore through the offer.
5) Financial performance
For the nine months ended December 2022, the company has clocked revenues of Rs 221 crore, and net profit of Rs 5.8 crore.
6) Objects of the offer
The net proceeds from the public offer will be used for repayment of certain borrowings, repairs and renovation of existing retail stores and setting of new retail stores.
7) Booking running lead managers
First Overseas Capital is acting as the lead manager to the issue, while Bigshare Services is the registrar.
8) Listing of shares
The company’s shares will get listed on the NSE SME platform
9) Important dates
The IPO opens on June 15 and closes on June 20. The final allotment will be made on June 23. The company’s shares will likely get listed on June 29.
10) Issue Structure
About 50% of the offer is reserved for retail investors, while the rest 50% is set aside for NII quota.
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