Rockingdeals Circular Economy Limited IPO to Open on November 22, Price Band Fixed at Rs 136-140 for IPO

Rocking Deals Circular Economy IPO (SME)

IPO Size Rs. 21 crores

Open on November 22, 2023 

Close on November 24, 2023

Minimum Investment Rs. 1,40,000/-

MUMBAI, 18 NOVEMBER, 2023 (PNT): Rockingdeals Circular Economy Limited has fixed the price band for its proposed initial public offering of shares at Rs 136-140 a share. The IPO will open for subscription to investors on November 22 and close on November 24.

The company plans to raise Rs 21 crore through fresh issue of shares. It plans to raise a portion of this from qualified institutional investors under the anchor allotment scheme. 

The anchor placement will take place on November 21. Faridabad-based Rockingdeals is a B2B sourcing platform for unboxed, certain refurbished, and excess inventory products across the consumer retail space.

The company has over 18 categories of stock keeping units (SKU), which include electrical appliances (Syska, Havells, LG, Panasonic, Usha, Crompton, Luminous, Phillips, etc.), apparels & footwear (Zara, Nike, Campus, etc.), speakers (Boat, JBL, Gizmore), mobiles and mobile accessories (Lenovo, Boat, Gizmore, etc.), and various other products.

These products are obtained from e-commerce vendors of platforms like Snapdeal, affiliates of Flipkart and Amazon, companies like GO Auto, Salora International, Zazz Technology Connect, and dealers and distributors like Matrix Housewares, Raj Agency, Sudhi Enterprises, etc. 

The company plans to utilise the proceeds from the fresh issue towards funding its working capital requirements, building the brand, marketing and advertising, and for general corporate purposes. For FY23, the company reported a revenue of Rs 15.2 crore and a profit of Rs 1.54 crore.

Corporate Capital Ventures Pvt Ltd is the book running lead manager to the issue. The company aims to get listed on the NSE Emerge platform.Ends