The Rockingdeals Circular Economy IPO, a groundbreaking book-built issue valued at Rs 21.00 crores, has emerged as a compelling investment opportunity. Here’s a comprehensive overview to guide you through this financial venture.
Subscription Status and Market Buzz
The Rockingdeals Circular Economy IPO subscription, opening on November 22, 2023, and closing on November 24, 2023, has garnered significant attention. As of November 23, 2023, the Rockingdeals Circular Economy IPO is oversubscribed by an impressive 54.46 times, reflecting robust investor interest.
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Rockingdeals Circular Economy IPO Key Details
Schedule Highlights
- IPO Opening Date: Wednesday, November 22, 2023
- IPO Closing Date: Friday, November 24, 2023
- Basis of Allotment: Tuesday, November 28, 2023
- Listing Date: Thursday, November 30, 2023
Pricing and Lot Size
- Price Band: ₹136 to ₹140 per share
- Lot Size: 1000 Shares
- Minimum Investment (Retail): ₹140,000
- Minimum Investment (HNI): ₹280,000 (2 lots)
Allocation Breakdown
- QIB Allocation: 47.16%
- NII (HNI) Allocation: 14.15%
- Retail Allocation: 33.02%
- Market Maker Allocation: 5.67%
Behind the Scenes: Rockingdeals Circular Economy Limited
About the Company
Incorporated in 2005, Rockingdeals specializes in bulk trading of excess inventory, open-boxed inventory, re-commerce products, and refurbished products. The company facilitates seamless and transparent transactions, benefiting both sellers and buyers.
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Financial Snapshot
- Revenue (as of June 30, 2023): ₹958.15 Lakhs
- Profit After Tax (as of June 30, 2023): ₹125.15 Lakhs
- Market Cap: ₹79.23 Crores
- P/E Ratio: 33.33
The Road Ahead: Objects of the Issue
The net proceeds from the IPO will be utilized for:
- A. Meeting working capital requirements
- B. Brand positioning, marketing, and advertisement
- C. General corporate purposes
Expert Recommendations
While the IPO has generated significant buzz, some experts express caution, citing the competitive nature of the re-commerce business. Dilip Davda suggests a critical review, emphasizing potential sustainability concerns.
How to Engage
Investors can participate by bidding for a minimum of 1000 shares, with multiples thereof. The process involves placing bids through various channels, ensuring adherence to cutoff times and mandates.
Conclusion
Rockingdeals Circular Economy IPO presents an enticing prospect for investors seeking exposure to the evolving landscape of sustainable trading. As the subscription status indicates, market participants are keenly watching this offering, anticipating a successful listing on November 30, 2023. Stay tuned for updates as the IPO journey unfolds.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice. Investors are advised to conduct thorough research and seek professional advice before making investment decisions.
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