Cell Point India IPO: The preliminary share sale of Cell Point India will open for subscription on June 15 and shut on June 20. The IPO is totally a contemporary fairness situation of up to 50.34 lakh fairness shares. There isn’t any provide on the market (OFS). The firm has plans to increase Rs 50 crore via the provide. It is providing its shares at a value of Rs 100 every.
While 50 p.c of the provide is reserved for retail traders, the remaining 50 p.c is for NIIs. Cell Point India shares will get listed on the NSE SME platform on June 29. First Overseas Capital is performing because the lead supervisor to the problem, whereas Bigshare Services is the registrar.
Cell Point IPO GMP
As per the market observers, Cell Point IPO gray market premium (GMP) on Tuesday is Rs 14. Based on immediately’s premium, the itemizing may happen round 114.
According to Nikhil Bhatt, a SEBI registered analyst, contemplating the optimistic monetary efficiency and progress potential, coupled with its robust presence within the retail business, Cell Point India might be a superb purchase for long-term good points. He stated that the substantial progress in complete property, income and revenue showcases its potential to improve profitability whereas increasing operations.
Cell Point India was based in 2001. It is a multi-brand retail retailer that’s engaged in promoting smartphones, tablets, cell equipment and mobile-related merchandise and allied equipment. It sells merchandise from numerous manufacturers like Apple, Samsung, Oppo and others. It has 75 retail retailer chains.
Domestic cell manufacturing is estimated to have grown 24-26 p.c in FY22. Despite chip scarcity, three of the worldwide producers met PLI manufacturing targets in the course of the fiscal. According to CRISIL Research, the expansion momentum is probably going to proceed with a 22 to 26 p.c CAGR between FY22 and FY24.
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