The scrip was listed at Rs 100, at par with the issue price. The scrip hit a high of Rs 100 and a low of Rs 95. About 19.27 lakh shares of the company changed hands at the counter so far.
The initial public offer (IPO) of Cell Point (India) was subscribed 5.76 times. The issue opened for bidding on 15 June 2023 and it will close on 20 June 2023. The price of the IPO was fixed at Rs 100 per share.
The IPO comprised fresh issue of 50,34,000 shares. The promoter and promoter group shareholding will dilute to 73.06% post IPO from 100% pre-IPO.
The company intends to utilize the net proceeds for repayment of certain borrowings, repairs and renovation of existing retail stores & setting of new retail stores, to meet the working capital requirements and general corporate purposes.
Cell Point (India) is engaged in multi-brand retail selling of smart phones, tablets, mobile accessories and mobile related products and allied accessories of various brands such as Apple, Samsung, Oppo, Realme, Nokia, Vivo, Xiaomi, Nokia, Redmi, Techno, One Plus, GIONEE, VIVO etc. The company is also engaged in retail selling of some of the consumer durable electronics goods, specifically, smart televisions of various brands such as Xiaomi, Realme and One Plus. All its products sold under one roof through its 75 retail store chain located all over the Andhra Pradesh. As on 31 December 2022, the company has total 298 employees.
The company recorded a revenue from operations of Rs 220.73 crore and net profit of Rs 5.80 crore for the period ended on 31 December 2022.