Fonebox Retail
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 25 Jan 2024 – 30 Jan 2024
- Listing date
- 02 Feb 2024
- Face value
- ₹10 per share
- Issue price
- ₹70 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹20.37 Cr
- Market cap at offer price
- ₹71.82 Cr
- Promoter holding
- 100.00% → 71.64% pre-issue → post-issue
- ISIN
- INE0Q4701019
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Beeline Capital Advisors Pvt.Ltd.
- Registered office
- 702/703, 7th Floor, Satyam 64, Opp.Gujarat High Court, S G Road, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 8,26,000 | — | — |
| Market maker | 1,46,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹70
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,40,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,80,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,80,000 |
| B-HNI (min) | 8 | 16,000 | ₹11,20,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 2.17 | 1.56 |
| P/E (×) | 32.26 | 44.87 |
| Price to book (×) | 1.66 | — |
| Market cap | — | ₹71.82 Cr |
Key performance indicators
- Return on net worth
- 76.15%
- ROCE
- 34.55%
- Debt / equity
- 5.03
- PAT margin
- 0.82%
- NAV per share
- ₹42.05
- Price to book
- 1.66
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Fonebox Retail
Originally incorporated as Fonebox Retail Private Limited vide Certificate of Incorporation dated February 05, 2021, and converted into a public limited company on July 12, 2023, Fonebox Retail Limited started operations in February 2021 with 2 'Fonebox' stores (achieving turnover of around 9.92 lakhs in one month of operation) and grew inorganically by acquiring 49 stores under the brand names 'Fonebook' and 'My Mobile' in FY 2022, followed by 11 new 'Fonebook' stores. As on January 05, 2024, it operates 143 stores across the state of Gujarat - 39 Company Owned and Company Operated (COCO) outlets and 104 Franchise Owned and Company Operated (FOCO) outlets distributed in more than 20 cities. The company sells smart phones, tablets and allied accessories of brands like Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG and Micromax, and consumer durable electronics such as laptops, washing machines, smart TVs, air conditioners and fridges of brands like TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme and OnePlus. It makes money from product sales at its own stores and, in the FOCO model, earns 1% of the total turnover achieved by each franchisee against a pre-agreed franchise fee; it also collects deposits from franchisees, provides credit/EMI facilities via partners (Bajaj Finance, HDB Financial Service, HDFC Bank, IDFC First Bank) and offers after-sale services for mobile handsets and tablets. Revenue from operations was Rs. 19,582.60 lakhs in FY2023 (PAT Rs. 159.86 lakhs) and Rs. 13,975.84 lakhs for the period ended September 30, 2023 (PAT Rs. 155.19 lakhs); the business is described by the company as a high volume-low margin trading business.
Company Analysis
from RHPFonebox Retail Limited is a Gujarat-based multi-brand retailer selling smart phones, allied accessories and consumer durable home appliances through 143 stores across more than 20 cities in Gujarat under its 'Fonebook', 'FONEBOX' and 'My Mobile' brands, operating via company-owned (COCO) and franchise-owned company-operated (FOCO) store models.
Originally incorporated as Fonebox Retail Private Limited vide Certificate of Incorporation dated February 05, 2021, and converted into a public limited company on July 12, 2023, Fonebox Retail Limited started operations in February 2021 with 2 'Fonebox' stores (achieving turnover of around 9.92 lakhs in one month of operation) and grew inorganically by acquiring 49 stores under the brand names 'Fonebook' and 'My Mobile' in FY 2022, followed by 11 new 'Fonebook' stores. As on January 05, 2024, it operates 143 stores across the state of Gujarat - 39 Company Owned and Company Operated (COCO) outlets and 104 Franchise Owned and Company Operated (FOCO) outlets distributed in more than 20 cities. The company sells smart phones, tablets and allied accessories of brands like Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG and Micromax, and consumer durable electronics such as laptops, washing machines, smart TVs, air conditioners and fridges of brands like TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme and OnePlus. It makes money from product sales at its own stores and, in the FOCO model, earns 1% of the total turnover achieved by each franchisee against a pre-agreed franchise fee; it also collects deposits from franchisees, provides credit/EMI facilities via partners (Bajaj Finance, HDB Financial Service, HDFC Bank, IDFC First Bank) and offers after-sale services for mobile handsets and tablets. Revenue from operations was Rs. 19,582.60 lakhs in FY2023 (PAT Rs. 159.86 lakhs) and Rs. 13,975.84 lakhs for the period ended September 30, 2023 (PAT Rs. 155.19 lakhs); the business is described by the company as a high volume-low margin trading business.
Objects of the Issue
- To Meet Working Capital Requirements Rs. 1,350.00 Lakhs p.92
- General corporate purposes p.95
- Public Issue Expenses p.96
Issue Structure
- Total Issue
- 2910000 Equity Shares aggregating to Rs. [●]/- Lakhs
- Fresh Issue
- Fresh Issue of 2910000 Equity Shares aggregating up to Rs. [●]/- Lakhs (entire issue is a fresh issue)
- Offer for Sale
- Nil
- Face Value
- Rs. 10/- each
Business Model
The company derives revenue from two verticals: (i) direct sale of mobile handsets, mobile accessories and consumer durable home appliances through its 39 company-owned stores (COCO model), and (ii) franchising under the FOCO model, wherein it gives its brand names 'Fonebox', 'Fonebook' or 'My Mobile' to franchisees at a pre-agreed franchise fee for terms of one to five years and earns 1% of the total turnover achieved by each franchisee; it additionally collects refundable deposits from franchisees (Rs. 1,530.10 lakhs outstanding as on September 30, 2023) and provides after-sale services for mobile handsets and tablets through its own and franchise outlets.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Manishbhai Girishbhai Patel | Promoter | 25.00% | 17.91% |
| Mr. Jigar Lallubhai Desai | Promoter | 16.50% | 11.82% |
| Mr. Parth Lallubhai Desai | Promoter | 16.50% | 11.82% |
| Mr. Jigneshkumar Dashrathlal Parekh | Promoter | 4.00% | 2.87% |
| Mr. Amitkumar Gopalbhai Patel | Promoter | 3.75% | 2.69% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.