Rockingdeals Circular IPO: The initial public offering of Rockingdeals Circular Economy Ltd (RDCEL), which was open for public subscription between November 22 and November 24, is likely to be listed on the NSE SME on November 30. Its share allotment will take place on Tuesday, November 28. According to grey market premium, the Rockingdeals Circular IPO is likely to see 46.43 per cent listing gains.
The IPO received a whopping 213.64 times subscription between November 22 and November 24. The category meant for non-institutional investors received 458.6 times subscription, while the quota for retail individual investors (RIIs) got subscribed 201.42 times. The portion for qualified institutional buyers (QIBs) was subscribed 47.38 times.
The price band of the Rs 21-crore Rockingdeals SME IPO was fixed at Rs 136-140 a share.
Rockingdeals Circular IPO GMP Today
According to market observers, unlisted shares of Rockingdeals Circular Economy Ltd were trading Rs 65 higher in the grey market as compared with its issue price. The Rs 65 grey market premium or GMP means the grey market is expecting a 46.43 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Rockingdeals Circular IPO Details
The IPO comprised a fresh issue of 15 lakh equity shares with a face value of Rs 10 each. The company fixed the price band at Rs 136-140 per equity share for the IPO.
The offer was aimed to fetch up to Rs 21 crore at the upper end of the price band. The proceeds from the issue will be utilised towards working capital requirements, brand positioning, marketing and advertising, and general corporate purposes.
Corporate Capital Ventures Pvt Ltd is the sole book-running lead manager to the issue, and the shares of the company will be listed on NSE Emerge. Founded by Yuvraj Aman Singh. RDCEL is part of the Faridabad-headquartered Rockingdeals Group.
The company’s revenue stood at Rs 15.01 crore, while the profit after tax was Rs 1.54 crore in FY23.
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