The IPO (initial public offering) of Cell Point India will kick off for public subscription on Thursday (June 15) and the SME issue will conclude next week on Tuesday (June 20.) Cell Point India shares are commanding a grey market premium (GMP) of Rs 12, according to market observers. The shares of the company are proposed for listing on the emerging platform (SME) of the National Stock Exchange (NSE).
Here's your 10-point cheat sheet to the story:
1. Cell Point India is planning to raise Rs 50 crore from the public offer and has fixed the price at Rs 100 per share for the IPO.
2. The IPO consists entirely of fresh equity issue of up to 50.34 lakh equity shares with a lot size of 1,200 equity shares. There is no offer for sale (OFS) in the proposed issue.
3. About 50 percent of the public offer is reserved for retail investors, while the remaining 50 percent is set aside for NIIs (non-institutional investors).
4. Retail investors can place their bid for a single lot only, costing Rs 1,20,000, while NIIs need to bid for a minimum of two lots, or 2,400 equity shares, costing Rs 2,40,000.
5. The net proceeds from the issue will be utilised for repayment of certain borrowings, repairs and renovation of existing retail stores and setting of new retail stores.
6. First Overseas Capital is acting as the lead manager to the issue, while Bigshare Services Pvt Ltd has been appointed as the official registrar.
7. The initial share sale opens tomorrow and closes on June 20. The final allotment will be made on June 23. The company's shares is expected to get listed on June 29.
8. The issue has received a 'subscribe' rating on a medium to long-term basis from SEBI-registered market analyst Nikhil Bhatt.
9. For the nine months ended December last year, the company has clocked revenues of Rs 221 crore, and a net profit of Rs 5.8 crore.
10. Cell Point India is engaged in multi-brand retail selling of consumer durable electronics goods like smart television of several brands including Xiaomi, Realme, and One Plus. The firm has more than 75 stores across Andhra Pradesh. Out of the 75 stores, two are owned properties and 73 stores are on leased properties.
