HP Telecom India IPO opens: Check GMP, subscription status & other key details about ₹34 crore SME offer | Stock Market News
Source: Live Mint
HP Telecom India IPO: The initial public offer (IPO) of HP Telecom India, a mobile phone and accessory distributor, opened for subscription on Thursday, February 20. The three-day public offer will close for bidding on Monday, February 24.
HP Telecom India IPO is priced at ₹108 per share. The company is looking to raise ₹34.23 crore through a fresh issue of 31.69 lakh shares. The minimum lot size for HP Telecom India IPO is 1200 shares, requiring a minimum investment of ₹1,29,600 by the retail investors.
The proceeds from the public offer will be utilised to fund the working capital requirements of the company and general corporate purposes.
Interactive Financial Services is the book-running lead manager of the HP Telecom India IPO, while Bigshare Services is the registrar for the issue.
HP Telecom India IPO Subscription
The public offer was subscribed 0.67 times so far on the first day of the bidding process on Thursday. The retail investor portion was booked 0.57 times while the non-institutional investor (NII) segment was subscribed 0.78 times.
HP Telecom India IPO GMP Today
The grey market premium for HP Telecom India IPO was NIL. This means that the company’s shares are not trading at a discount or a premium to the IPO price. At current levels, HP Telecom India shares could list at ₹108, the same as the IPO price.
About HP Telecom India
HP Telecom India, incorporated in March 2011, focuses on distributing mobile phones, accessories, and related products. Currently, the company operates as the exclusive distributor of Apple products across significant territories, including Madhya Pradesh & Chhattisgarh, select cities in Uttar Pradesh, and major urban centres in Gujarat.
Additionally, it also engages in the distribution of select other brands to diversify offerings and cater to a broader customer base. In FY 2023-24, it secured the exclusive distribution rights for ‘Nothing’ in Gujarat.
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