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The initial public offer (IPO) of HP Telecom India received bids for 21,13,200 shares as against 31,69,200 shares on offer, as per NSE data as of 17:00 hours on 20 February 2025. The issue was subscribed 66%. The issue opened for bidding on 20 February 2025, and it will close on 24 February 2025. The price of the IPO is fixed at Rs 108 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on NSE's SME platform. The IPO comprises a fresh issue of 31,69,200 shares. The promoter and promoter shareholding will dilute to 73.40% from 99.99% pre-IPO. About 1,59,600 equity shares will be reserved for subscription by the market maker to the issue. The net issue comprises 30,09,600 equity shares. The issue and the net issue will constitute 26.59% and 25.25%, respectively, of the post-offer paid-up equity share capital of the company. The company intends to utilize the net fresh issue proceeds for funding the working capital requirements of the company and for general corporate purposes. HP Telecom India initially focused on the distribution of mobile phones and accessories. During the fiscal year 2014-15, the company secured exclusive distribution rights for Sony LED TVs, mobile phones, and various other brands across Gujarat. The company further diversified its product range to include LCD/LED home theaters, air conditioners, and other consumer appliances. Currently, HP Telecom holds the exclusive distribution rights for Apple products in Madhya Pradesh, Chhattisgarh, select cities in Uttar Pradesh, and prominent urban centers in Gujarat. The company offers a comprehensive range of Apple devices, including iPhones, iPads, Macs, and Apple Watches, catering to the region's tech-savvy consumer base. As of 30 September 2024, the company employs 7 permanent staff members and 84 contractual employees. The company recorded revenue from operations of Rs 581.23 crore and net profit of Rs 5.23 crore for the period as on 30 September 2024. Powered by Capital Market - Live News |