Cell Point, a renowned retailer of branded smartphones and smart TVs, has launched its IPO today. The IPO offers an investment opportunity at Rs 100 per share.
While the gray market shows a Grey Market Premium (GMP) of Rs 12, market experts emphasize that investment decisions should be based on the company’s financials and fundamentals rather than signals from the gray market.
The IPO will remain open for subscription until Tuesday, June 20. Here are the complete details about the issue and the company.
Cell Point IPO Details
Investors have the chance to invest in Cell Point’s Rs 50 crore IPO until June 20. The issue price has been set at Rs 100 per share, and the lot size is 1200 shares.
A total of 50.34 lakh equity shares with a face value of Rs 10 each will be issued. Following the successful IPO, the shares will be listed on NSE-SME, the SME platform of NSE.
Allotment and Listing Dates
The allotment of shares will be finalized on June 23, and the listing is scheduled for June 29.
The funds raised through the issuance of new shares will be utilized for debt repayment, repairing and renovating existing retail outlets, opening new outlets, meeting working capital requirements, general corporate objectives, and issue-related expenses.
Overview of Cell Point
Cell Point (India) specializes in retailing a wide range of smartphones, tablets, mobile accessories, and mobile-related products from reputed brands such as Apple, Samsung, Oppo, Realme, Nokia, Vivo, Xiaomi, Redmi, and OnePlus.
Additionally, it offers consumer durables like Smart TVs from popular brands like Xiaomi, Realme, and OnePlus.
The company currently operates 75 stores in Andhra Pradesh, out of which 73 are located on leased properties.Heading 6: Financial Performance
Regarding the financial health of the company, Cell Point reported a net profit of Rs 1.60 crore in FY 2020, which decreased to Rs 69.11 lakh in FY 2021.
However, the situation improved with a net profit of Rs 1.64 crore in FY 2022 and further rose to Rs 5.81 crore in FY 2022-23.
