Sail Point India IPOThe initial share sale of Sell Point India will open for subscription on June 15 and close on June 20. The IPO is a fresh equity issue of entirely 50.34 lakh equity shares. There is no offer for sale (OFS). The company plans to raise Rs 50 crore through the offer. It is offering its shares at Rs 100 each.
While 50 per cent of the offer is reserved for retail investors, the remaining 50 per cent is for NII. Shares of Sail Point India will be listed on NSE SME platform on June 29. First Overseas Capital is acting as the lead manager to the issue, while BigShare Services is the registrar.
Sail Point IPO GMP
According to market experts, the gray market premium (GMP) of Sell Point IPO is Rs 14 on Tuesday. Based on today’s premium the listing could be around 114.
Given the positive financial performance and growth potential, along with its strong presence in the retail industry, Sail Point India could be a good buy for long-term gains, according to Nikhil Bhatt, a SEBI registered analyst. The substantial growth in total assets, revenue and profit reflects the potential to increase profitability by expanding operations, he added.
Sail Point India was established in 2001. It is a multi-brand retail store engaged in the sale of smartphones, tablets, mobile accessories and mobile related products and accessories. It sells products from various brands like Apple, Samsung, Oppo and others. It has 75 retail store chains.
Domestic mobile production is estimated to grow by 24-26 per cent in FY22. Despite chip shortfalls, three global manufacturers met PLI production targets during the fiscal year. According to CRISIL Research, the growth momentum is likely to continue with a CAGR of 22 to 26 per cent between FY22 and FY24.
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