Cell Point India IPO: Subscription Opens for SME Company
The initial public offering (IPO) of Cell Point India Ltd has commenced today and will remain open for subscription with GMP until June 20, 2023. The company has set the fixed price for its public issue at ₹100 per share, with each lot comprising 1200 company shares.
Market Sentiments Rise in Grey Market
Following the opening of the public issue, the grey market sentiments for Cell Point India IPO have shown an upward trend. Observers report that the shares of Cell Point India IPO are currently trading at a premium of ₹14 in the grey market.
Key Details of Cell Point India IPO
Cell Point India IPO GMP Today:
According to market observers, the grey market premium (GMP) for Cell Point India IPO stands at ₹14 today, marking an increase of ₹2 from Wednesday’s GMP of ₹12.
Cell Point India IPO Price:
The public issue of Cell Point India is being offered at a fixed price of ₹100 per share.
Cell Point India IPO Date:
Investors can subscribe to the IPO until June 20, 2023.
Cell Point India IPO Size:
The company aims to raise ₹50.34 crore through its public offer, which involves issuing 5,034,000 fresh company shares.
Cell Point India IPO Lot Size:
Investors can apply for the public issue in lots, with each lot comprising 1200 company shares.
Cell Point India IPO Allotment Date:
The finalization of share allocation is expected to take place on June 23, 2023.
Cell Point India IPO Listing:
Cell Point India IPO is set to be listed on the NSE SME exchange, with the tentative listing date scheduled for June 29, 2023.
Cell Point India IPO Review:
Nikhil Bhatt, a SEBI registered analyst, recommends a “buy” for medium and long-term investors, emphasizing the growth potential and profitability of Cell Point India in the evolving smartphone retail sector. Investors can subscribe to Cell Point IPO through their preferred brokerage platforms or seek guidance from financial advisors.
Also Read: Cell Point IPO Details | GMP, Date, Price, Review, Allotment
Financial Performance of Cell Point India
As per the Draft Red Herring Prospectus (DRHP), the upcoming IPO has a price-to-earnings (P/E) ratio of 4.41 based on annualized FY23 earnings. Notably, the company achieved a 112% profit increase in the past 9 months of FY23.
Cell Point India has exhibited consistent growth over the years. In its latest financial results, the company’s total assets amounted to ₹90.64 crore, with a revenue of ₹221.67 crore. It reported a substantial profit after tax of ₹5.80 crore. These strong financials underscore Cell Point’s solid foundation and growth potential. The company experienced significant growth in revenue by 20% and profit by 82% from 2021 to 2022.
About Cell Point India:
Cell Point (India) Limited was founded in 2001 and focuses on the multi-brand retail of Smart Phones, tablets, mobile accessories, and associated products. They provide a wide selection of products from well-known manufacturers such as Apple, Samsung, Oppo, Realme, Nokia, Vivo, Xiaomi, Redmi, and Oneplus. Furthermore, the company is actively involved in the multi-brand retail industry, offering a diverse range of consumer durable electronic products, including Smart TVs from renowned brands like Xiaomi, Realme, and One Plus.
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