Rockingdeals Circular IPO: The initial public offering of Rockingdeals Circular Economy Ltd (RDCEL), opened for public subscription between November 22 and November 24, received a whopping 143.99 times subscription till 2:30 pm on the last day of bidding on Friday. The investor response is the highest as compared to even 5 other mainboard IPOs this week. The price band of the Rs 21-crore Rockingdeals SME IPO was fixed at Rs 136-140 a share.
The category meant for non-institutional investors received 262.5 times subscription, while the quota for retail individual investors (RIIs) got subscribed 157.06 times. The portion for qualified institutional buyers (QIBs) was subscribed 29.65 times, according to chittorgarh.com.
A total of 15,00,000 shares were on offer in the IPO.
Rockingdeals Circular IPO GMP Today
According to market observers, unlisted shares of Rockingdeals Circular Economy Ltd were trading Rs 39 higher in the grey market as compared with its issue price. The Rs 39 grey market premium or GMP means the grey market is expecting a 39.29 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.
The Rockingdeals Circular IPO is going to be listed on NSE SME on November 30, while the share allotment is likely to take place on November 28.
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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