The Rocking Deals Circular Economy initial public offering (IPO) will open for bidding on November 22nd and close on November 24th. The B2B re-commerce company announced the price band for its IPO at ₹136 – ₹140, with a face value of ₹10 per share and a market lot of 1000 shares.
Specializing in the wholesale trade of surplus inventory, open-box goods, re-commerce products, and refurbished goods, the company aims to raise ₹21 crore through the IPO. This fundraising effort is a fresh issue of shares only.
The minimum lot size for application is 1000 Shares. It is the minimum investment amount required by retail investors ₹140,000. The minimum investment amount for HNI is 2 lots (2,000 shares). ₹280,000.
Rocking Markets Circular Economy Ltd, established in 2005, is a leader in the B2B re-commerce sector. The company specializes in the wholesale trade of surplus inventory, open-box items, remarketing products, and refurbished items, as explained in the following section.
Rocking Deals shares will be listed on the NSE Emerge. The IPO comprises a fresh issue of equity shares of up to 15 lakh equity shares with a face value ₹10 each through the book building process.
“We are delighted to achieve another milestone and come closer to our mission of becoming a publicly listed company,” said RDCEL Founder and Managing Director Aman Preet.
Rocking Deals Circular Economy IPO Details
Date of issue: The IPO will open for subscription on November 22 and close on November 24.
Share price: The price band of the IPO is set at ₹136 – ₹140, with a market lot of 1000 shares.
Amount of issue: The aim of the company is to rise above ₹21 crore through the IPO.
Use of Net Proceeds: The proceeds of the issue will be used towards working capital requirements, brand positioning, marketing, advertising and general corporate purpose.
Book Run Managers: Corporate Capital Ventures Pvt Ltd is the lead book-running manager of the IPO.
Subscribing to: The shares of Rocking Deals will be listed on the NSE Emerge.
GMP: Rocking Deals shares in gray market premium (GMP) are available at 0%, which means that the IPO shares are available at the same price as the issue price ie ₹140 per share.
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Updated: 19 November 2023, 03:38 PM IST
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