Fonebox Retail Limited Approves Acquisition of NWOM Retailers and Boosts Capital through Board Meeting

Fonebox Retail Limited Approves Acquisition of NWOM Retailers and Boosts Capital through Board Meeting​

Fonebox Retail Limited announced several significant corporate actions following its Board meeting held on May 22, 2026. The board approved the acquisition of 100% equity shares of NWOM Retailers Private Limited, the issuance of equity shares via a preferential allotment, an increase in the company’s authorized share capital, and the appointment of two new directors.

The board also approved convening an Extra-Ordinary General Meeting (EGM) for the shareholders on Saturday, June 20, 2026, through video conferencing or other audio-visual means, to seek necessary approvals for these transactions.

Acquisition of NWOM Retailers​

The board approved the acquisition of 100% Equity Shares of NWOM Retailers Private Limited (NWOM). The shares are being acquired from three individuals: Mr. Pankaj Kailashnath Vasudeva, Mr. Dhrumil Pradipbhai Shah, and Mr. Rajesh Ujamshibhai Shah.

The acquisition is structured as a share swap transaction. In consideration for the purchase of the 100% paid-up share capital of NWOM, the company will issue 30,00,000 Equity Shares to the Sellers.

The transaction details are summarized below:


NWOM Retailers Private Limited, which operates in the wholesale and retail trade of mobile phones and related products, has seen a turnover of Rs. 25,32,129.65 thousand in FY 2024-25 and Rs. 13,00,895.00 thousand in FY 2023-24.

Preferential Issuance and Capital Increase​

To facilitate the acquisition, the board approved the issuance of 30,00,000 Equity Shares on a preferential basis. These shares have a face value of Rs. 10 each and are being issued at a price of INR 85.80 per share.

Concurrently, the company approved an increase in its authorized share capital. The authorized share capital is being raised from INR 10,50,00,000, consisting of 1,05,00,000 Equity Shares, to INR 13,50,00,000, consisting of 1,35,00,000 Equity Shares.

Appointments of Additional Directors​

The board approved the appointment of two individuals as Additional Directors (Executive) with effect from May 22, 2026, subject to the approval of the shareholders at the ensuing general meeting.

Mr. Pankaj Kailashnath Vasudeva
Mr. Pankaj Kailashnath Vasudeva was appointed as Additional Director (Executive). He is a professional with over 26 years of experience in the retail industry, bringing deep knowledge in retail operations, business development, and strategic management.

Mr. Dhrumil Pradipbhai Shah
Mr. Dhrumil Pradipbhai Shah was appointed as Additional Director (Executive). He is a commerce graduate with over 26 years of hands-on experience in the retail industry, specializing in sales, procurement, financial planning, and team management.

The board meeting commenced at 05:00 P.M. and concluded at 07:00 P.M.

FONEBOX Stock Price Movement​

Today, Fonebox Retail Limited shares surged, settling at ₹83.25, representing a strong 10.53% gain in post-market trading. The stock saw significant interest today, with a total traded volume of 18,000 shares fueling the climb.