Rockingdeals Circular SME IPO up 125% on launch

Rockingdeals Circular SME IPO offering Rs 21 crore through 15 lakh shares in a pure fresh issue, witnessed an impressive surge of 125 percent on its November 30 debut. The SME’s initial public offering had experienced significant oversubscription, reaching 213 times last week.

Commencing at Rs 140 per share, the stock opened at Rs 300 on the NSE SME platform. By 10 am, it was trading at Rs 315, reflecting a substantial 125 percent increase from its issue price.

The IPO, valued at Rs 21 million, comprised a total fresh issue of 15 million shares. Rockingdeals Circular Economy Ltd intends to utilize the net proceeds to address working capital requirements and support brand positioning, marketing, and advertising efforts.

Key Subscription Statistics:
– Retail category: 201.42 times
– Qualified Institutional Placements (QIPs): 47.4 times
– Non-Institutional Investors (NIIs): 459 times

Corporate Capitalventures Pvt Ltd managed the IPO, with Bigshare Services Pvt Ltd serving as the Registrar and Ss Corporate Securities acting as the market maker for the Rockingdeals Circular Economy IPO.

Established in 2005, Rockingdeals specializes in excess inventory trading and open boxes, facilitating effective disposal of surplus inventory for companies. The company operates with transparency, benefiting both sellers and buyers.

Rockingdeals offers deals across more than 18 categories of stock-keeping units (SKU), encompassing electronics (Syska, Havells, LG), apparel and footwear (Zara, Nike), speakers (Boat, JBL, Gizmore), mobiles, accessories, and various other products. The items are sourced from prominent e-commerce vendors like Snapdeal (Juscorp), Flipkart, Amazon affiliates, and companies such as GO Auto, Salora International, Zazz Technology Connect Private Limited, as well as dealers/distributors like Matrix Housewares, Raj Agency, Sudhi Enterprises, among others.

In the fiscal year 2023, the company reported a net profit of Rs 1.54 crore compared to Rs 14.37 crore in the previous year. The revenue for the last fiscal year amounted to Rs 15.18 billion, slightly lower than the previous year’s Rs 15.33 billion.

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