Umiya Mobile shares list at ₹69 on BSE SME, up 4.55% from IPO price
The ₹ 24.88-crore Initial Public Offering (IPO) of Umiya Mobile was open for subscription from July 28 to July 31 and received a decent response from investors. The issue, with a total size of 35.80 lakh shares, was subscribed 2.57 times over the three-day bidding window.
In terms of demand, the IPO garnered bids for 91.94 lakh shares against the 35.80 lakh shares on offer. Among investor categories, the retail investor portion was subscribed 2.61 times, while the non-institutional investor (NII) segment saw a subscription of 2.44 times, reflecting healthy interest across both categories.
The Umiya Mobile IPO comprised an entirely fresh issue of 37.70 lakh equity shares, with no offer-for-sale (OFS) component involved. The lot size for the IPO was fixed at 2,000 shares, meaning the minimum investment required by a retail individual investor was ₹ 2,64,000 for 4,000 shares (2 lots).
The net proceeds from the fresh issue will be utilised to repay or prepay the company's outstanding borrowings and for general corporate purposes, as outlined in the offer documents.
The IPO adhered to the standard allocation structure, with 75 percent of the issue reserved for Qualified Institutional Buyers (QIBs), 15 percent allocated to Non-Institutional Investors (NIIs), and the remaining 10 percent set aside for Retail Individual Investors (RIIs). Additionally, the issue included a reservation of up to 69,767 shares for eligible employees, who were offered shares at a discount of ₹ 22 per share from the issue price.
Smart Horizon Capital Advisors Private Limited acted as the book-running lead manager for the Umiya Mobile IPO, while Bigshare Services Pvt Ltd served as the registrar. The market maker for the issue was Shreni Shares Limited.
Established in 2012, Umiya Mobile Pvt. Ltd., a Rajkot-based retail player, has emerged as a prominent name in the mobile phones and consumer electronics space. The company retails a broad selection of smartphones from top brands such as Apple, Samsung, Realme, and Xiaomi, along with home appliances including smart TVs, air conditioners, refrigerators, and coolers from well-known names like Sony, LG, Panasonic, and Godrej.
The company witnessed robust financial growth in FY25, with revenue rising 33 percent and profit after tax (PAT) surging 141 percent compared to the previous fiscal year ending March 2024.
Umiya Mobile currently operates 149 stores in Gujarat and 69 in Maharashtra, leveraging a wide network to cater to diverse customer segments. Its multi-format retail approach and expanding geographic footprint have played a significant role in driving both sales and profitability.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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