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The much-anticipated Fonebox IPO share allotment has been finalized, marking a significant milestone in the journey of this promising retail venture. With investors eagerly awaiting the outcome, the allotment process brings clarity to those who participated in this dynamic offering. Let's delve into the details surrounding the allotment, the Grey Market Premium (GMP), and the subscription status, shedding light on the implications for investors.
The initial public offering (IPO) of Fonebox Retail commenced on January 25 and concluded on January 30, igniting considerable interest from investors across the spectrum. Fonebox Retail, an SME IPO, captured the attention of both institutional and retail investors with its promising business model and growth prospects.
Investors who applied for Fonebox Retail IPO can now check the IPO allotment status on the dedicated portal provided by Kfin Technologies Ltd, the IPO registrar. Through this platform, applicants can ascertain the number of shares allotted to them based on the basis of allotment.
For those fortunate enough to receive shares, Fonebox Retail will initiate the process of crediting the shares directly into their demat accounts, facilitating seamless ownership transition. Concurrently, the company will commence the refund process for applicants who were not allotted shares, ensuring equitable treatment for all participants.
The eagerly awaited listing date for Fonebox Retail IPO is scheduled for February 2. The shares will be listed on the NSE Emerge platform, signaling the entry of Fonebox Retail into the public trading domain and marking the beginning of its journey as a publicly traded entity.
For investors keen to track their allotment status, the process is streamlined through online channels. By visiting the website of the IPO registrar, Kfin Technologies Ltd, or accessing the BSE website, investors can conveniently check the status of their applications. The following steps outline the process:
Visit the registrar's website and select Fonebox Retail Limited from the dropdown menu.
Choose one of the options provided – Application No, Demat Account, or PAN.
Enter the relevant details as per the selected option.
The Grey Market Premium (GMP) for Fonebox Retail IPO stands at ₹120 per share, as per market observers. This indicates a notable surge in demand, with Fonebox Retail shares trading significantly higher than their issue price of ₹70 apiece in the gray market.
During the bidding period, Fonebox IPO witnessed overwhelming subscription levels. The public issue was oversubscribed 659.42 times in total, underscoring the robust investor interest and confidence in the company's growth trajectory. Notably, the retail category saw an impressive subscription rate of 886.32 times, indicating strong retail investor participation.
The conclusion of the allotment process for Fonebox Retail IPO marks a significant milestone for the company and its investors. With robust subscription levels, a healthy Grey Market Premium, and anticipation surrounding its listing, Fonebox Retail IPO represents a promising opportunity in the dynamic landscape of the Indian stock market. As investors await the listing date, the success of Fonebox Retail IPO underscores the potential for growth and value creation in the retail sector.
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