MUMBAI - RDCEL, led by entrepreneur Yuvraj Aman Singh, has announced its initial public offering (IPO) price range of ₹136-₹140 per share as it seeks to raise ₹21 crore through the NSE Emerge platform, focusing on growth in the North-East market. The public offering, scheduled from Wednesday to Friday, will consist of fresh equity shares with specific allocations for anchor investors and qualified institutional buyers (QIBs) at seven lakh shares.
High net worth individuals (HNIs) are allotted two lakh fifteen thousand shares, and the retail segment is given five lakh shares. Anchor investors will have the opportunity to invest in the IPO starting Tuesday. The company's subscription window is set to open on Wednesday, aiming to gather approximately ₹21 crore, with share prices fixed within the stated range.
Managed by Corporate Capital Ventures Private Limited, the IPO is slated for closure on Friday. RDCEL operates from Faridabad and is a part of the Rockingdeals Group. It is known for its commitment to a circular economy, combating e-waste by leveraging networks with top e-commerce brands such as Flipkart and Amazon (NASDAQ: AMZN ) for exclusive supplies. The company manages a significant retail space footprint and boasts an L4 service center capable of processing one million units monthly.
The company has reported revenues of ₹15.01 crore for FY23 with an EBITDA of ₹2.73 crore and profit after tax (PAT) at ₹1.54 crore. In the first quarter of FY24, RDCEL's sales figures stood at ₹9.58 crore with EBITDA of ₹1.87 crore and a PAT of ₹1.25 crore after distributing more than ten million units through various channels, including Jindal Mega Mart.
With a team exceeding twenty professionals skilled in product management, RDCEL aims to use the proceeds from the IPO for business expansion needs and to solidify its position in the market by enhancing its operations across numerous categories within the Rockingdeals Group's ecosystem.
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