Fone4 Communications (India) and Nanavati Ventures become the 373rd and 374th Company to get listed on BSE SME Platform

6 May 2022 , 07:01 PM

Fone4 Communications (India) Limited and Nanavati Ventures Limited become the 373rd and 374th company respectively, to get listed on the BSE SME Platform on May 06, 2022.

Fone4 Communications (India) Limited came out with an initial public offering of 68,00,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash at a Price of Rs. 10 Per Equity Share (The “Offer Price”), Aggregating to Rs. 6.80 Crore. The company has successfully completed its public issue on April 27, 2022.

Nanavati Ventures Limited came out with an initial public offering of 4,38,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash at a Price of Rs. 50 Per Equity Share (The “Offer Price”), Aggregating to Rs. 2.19 Crore. The company has successfully completed its public issue on April 27, 2022.

Fone4 Communications (India) Limited is Kerala based company whose registered office is at Thammanam Ernakulam. The company engaged in multi-brand retail selling of consumer electronics goods such as Smart Phones, Smart TVs, Computers, Peripherals and accessories, from manufacturers like Apple, Samsung, Oppo, Vivo, Xiaomi, Nokia, Redmi, Techno, Karbonn, One Plus, Dell, Lenovo, Asus, HP, Acer, Avita, TCL, Xiaomi, LG, and Sansui. Kolkata based FINSHORE MANAGEMENT SERVICES LIMITED, was the lead manager to Fone4 Communications (India) Limited.

Nanavati Ventures Limited is Gujarat based company whose registered office is at Navsari. The company engaged in trading of diamonds. Its operations include sourcing of polished and uncut diamonds from primary and secondary source suppliers in the domestic market and sale of diamond to the retail and wholesale operations in Gujarat. Company’s primarily sell diamonds to a customer base spread across domestic markets that includes various jewellery manufacturers, large department store chains, retail stores and wholesalers. Mumbai based FIRST OVERSEAS CAPITAL LIMITED, was the lead manager to Nanavati Ventures Limited.

So far, 138 companies have migrated to the main board. The 372 companies listed on BSE SME Platform have raised Rs.3,980 crore from the market and total market capitalization of 372 companies as on May 05, 2022 is Rs. 52,174 Crore. BSE is the market leader in this segment with a market share of 60 percent.

SEBI came out with detailed guidelines on 18th May 2010 for launching of SME Exchange/Platform. BSE was the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March 2012.

The response since the launch of this platform by BSE has been very positive till date.