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Fonebox IPO
Price Band
₹66.0–70.0
Issue Size
₹20.37 Cr
Lot Size
2,000 shares
Min Investment
₹140,000
GMP
+₹130.0 (185.71%)
Issue Price
₹70.0
Subject to Sauda
₹197600
Paid only if allotted
Fonebox IPO AI Summary
- Fonebox IPO is listed on NSE SME in the Speciality Retail sector.
- Price band: ₹66.0–₹70.0 per share, lot size 2,000 shares (min. investment ₹140,000).
- Subscription window: 25 Jan–30 Jan 2024, listing on 02 Feb 2024.
- Current GMP is +₹130.0 (185.71%), an estimated listing price of ₹200 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Fonebox IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 30 Jan 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Fonebox IPO Grey Market Premium (GMP) Today
GMP
+₹130.0
GMP %
+185.71%
Est. Listing
₹200.0
Updated: 25 Jul 2026 14:07
About the Company
Fonebox Retail Limited is a multi-brand retailer of smartphones and accessories from manufacturers such as Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG, and Micromax. The company operates under two brand names Fonebook and Fonebox. The company is also engaged in multi-brand retailing of consumer durables such as laptops, washing machines, smart TVs, air conditioners, refrigerators, etc. from brands such as TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme, and OnePlus. The company offers credit/EMI facilities to its customers for the purchase of its products for which the company has tied up with major leading financial institutions like Bajaj Finance, HDB Financial Service, HDFC Bank and IDFC First Bank. As of September 25, 2023, the company had a total of 153 stores in the state of Gujarat. Of these, 40 are company-owned and company-operated retail stores ("COCO model") and 113 are under the franchisee and company-operated model ("FOCO model") spread across more than 20 cities in Gujarat. As on July 31, 2023, the company employed a total of 130 people.
Company Financials (₹ Cr)
As of 2023-03-31
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 43.42 | 38.61 | 21.11 | 0.71 |
| Total Income | 140.23 | 196.26 | 90.92 | 0.10 |
| Profit After Tax | 1.55 | 1.60 | 0.13 | -0.02 |
| NET Worth | 9.17 | 2.10 | 0.60 | 0.12 |
| Reserves and Surplus | 1.90 | 1.70 | 0.10 | -0.02 |
| Total Borrowing | 5.07 | 10.58 | 5.84 |
Key Ratios
EPS
₹2.17
NAV
₹42.05
ROE
118.20%
ROCE
34.55%
RoNW
76.15%
P/B Value
1.66
P/E Ratio
32.18
Market Cap
₹71.82 Cr
PAT Margin
0.82%
Debt/Equity
5.03
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Bhatia Communications & Retail (india) Ltd | 4.36 | 15.55% | 25.1 | 0.68 |
| Jay Jalaram Technologies Limited | 21.22 | 10.62% | 71.73 | 2.55 |
| Fonebox Retail Limited This IPO | 42.05 | 76.15% | 32.18 | 2.35 |
Promoters
Amitkumar Gopalbhai Patel, Manishbhai Girishbhai Patel, Jigar Lallubhai Desai, Parth Lallubhai Desai and Jigneshkumar Dashrathlal Parekh
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Meet Working Capital Requirement 13.50 2 General corporate purposes 5.05 3 Public Issue Expenses 1.82
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹90.92 Cr in the year ended 31 Mar 2022, increasing to ₹196.26 Cr by 31 Mar 2023. However, in the most recent period ending 30 Sep 2023, total income was ₹140.23 Cr, which is lower than the previous full year, though this is a 6-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹0.13 Cr in the year ended 31 Mar 2022, rising to ₹1.60 Cr by 31 Mar 2023. In the latest period ending 30 Sep 2023, profit after tax was ₹1.55 Cr, which is slightly lower than the previous full year, though this is a 6-month figure, not a full year, so isn't directly comparable.
Valuation
Fonebox Retail Limited has an implied P/E ratio of 32.18 at the issue price, compared to peers trading at P/E ratios ranging from 25.1 to 71.73.
Grey Market Premium, Explained
The grey market is an unofficial marketplace where shares are bought and sold before they are officially listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of the shares based on demand in this unofficial market.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's financial health, market position, and growth potential.
Who May Want to Wait
Investors with a low-risk appetite or those who prefer stable, established companies may want to avoid IPOs like this, which can be more volatile and uncertain in the short term.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may see significant price increases on their first day of trading, others may not perform as well. Investors should be aware that market conditions, investor sentiment, and company performance can all influence listing-day outcomes.
This evaluation is generated from Fonebox's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Fonebox IPO GMP today?
Fonebox IPO GMP today is +₹130.0 (185.71%), indicating an estimated listing price of ₹200. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Fonebox IPO?
The price band of Fonebox IPO is ₹66.0–₹70.0 per share.
When does Fonebox IPO open and close?
Fonebox IPO opens on 25 January 2024 and closes on 30 January 2024.
When does Fonebox IPO list on the stock exchange?
Fonebox IPO listed on 02 February 2024 at ₹200.0.
What is the lot size for Fonebox IPO?
The lot size for Fonebox IPO is 2000 shares, requiring a minimum investment of ₹140,000.
What is the price band for the Fonebox IPO?
The price band for the Fonebox IPO is ₹66 to ₹70.
What is the minimum investment amount?
The minimum investment amount is ₹140,000.
When does the Fonebox IPO open and close?
The Fonebox IPO opens on January 25, 2024, and closes on January 30, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares based on demand in the unofficial grey market.
When is the listing date for the Fonebox shares?
The listing date for Fonebox shares is February 2, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Jan 2024
Close
30 Jan 2024
Allotment
31 Jan 2024
Listing
02 Feb 2024
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