Rockingdeals IPO Sets Price Band of Rs. 136 – Rs. 140, Issue To Open On 22nd Nov

The subscription window of the initial public offer (IPO) of Rockingdeals Circular Economy Limited (RDCEL), India's only B2B sourcing marketplace for unboxed, certified refurbished, surplus inventory items in the consumer retail sector, is scheduled to take place on Wednesday, November 22, 2023 and the issue will close on Friday, November 24, 2023. The Anchor portion will be open on Tuesday, November 21, 2023.

With the issuance, the company aims to raise about Rs. 21 crore (in the upper price range) and plans to list on NSE Emerge. The public offering has a set price range of Rs. 136 to Rs. 140 per share. The issue's book-running lead manager is Corporate Capital Ventures Private Limited.

Through the book-building process, a new issue of 15 lakh equity shares having a face value of Rs 10 would be part of the IPO. 7 lakh shares are set apart for the Anchor and QIB portions, 2.15 lakh equity shares for the HNI section, and 5 lakh shares for the retail portion. RDCEL plans to use the issue's proceeds for general business operations, brand positioning, marketing, and advertising, as well as working capital needs.

As the originator of the "Seconds" concept in India, Yuvraj Aman Singh launched the Rockingdeals Group, which includes RDCEL. RDCEL certifies products and offers them to its B2B clients, which includes the retail division of Rockingdeals, in more than 18 categories. RDCEL has an exclusive supply to serve around 70,000 sq. ft. of retail space through Rockingdeals and its franchise network.

Additionally, the company procures unsealed and additional inventory from well-known companies like Flipkart, Snapdeal, Amazon, Whirlpool, Puma, Hindware, Godrej, and others. Through a reputable network of B2B clients, including its group firm (Rocking Deals), Jindal Mega Mart, Shopclues, Brand Wala, VLE Bazaar, HIC International, PSUAVI, KRAT India, and Zazz Technology, RDCEL has sold over 10 million units.

In Faridabad, RDCEL runs a 30,000-square-foot warehouse and a L4 service centre with the installed capacity to QC and grade one million units monthly.

The organisation, which is based in Faridabad, employs more than twenty people with extensive backgrounds in product sourcing, grading, and pricing across all categories. In FY23, RDCEL's total revenues were Rs. 15.01 crore, with EBITDA and PAT coming in at Rs. 2.73 and Rs. 1.54 crore, respectively. The firm reported total sales of Rs. 9.58 crore, EBITDA of Rs. 1.87 crore, and PAT of Rs. 1.25 crore for the first quarter of FY24.