Rockingdeals Circular Economy IPO has opened for subscription on Wednesday, November 22, and will close on Friday, November 24. Rockingdeals Circular IPO's price band is set in the range of ₹136 to ₹140. Investors can bid for a minimum of 1000 shares and in multiples thereof. The face value of the equity shares is ₹10 each and the issue price is 13.60 to 14.00 times of the face value at the lower price band and the upper price band, respectively.
Rockingdeals specialises in wholesale trading of open-box, resale, refurbished, and excess inventory.
With the help of the company's array of services, other businesses can quickly get rid of their extra inventory and free up important space and funds. Both the seller and the buyer stand to gain from the smooth and open process.
The company's promoters are Aman Preet, Kulbir Chopra, and Avneet Chopra.
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Rockingdeals Circular IPO, which is worth ₹21 crore, is completely a fresh issue of 15,00,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).
The company plans to use the net proceeds for general corporate purposes, brand positioning, marketing, and advertising, as well as to meet working capital requirements.
The registrar of the Rockingdeals Circular Economy IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Corporate Capitalventures Pvt Ltd. Ss Corporate Securities is the market maker for the Rockingdeals Circular Economy IPO.
For the company, there are no listed peers. Within their respective business segments, none of the listed Indian companies provide re-commerce products. Therefore, it is not feasible to make a strict comparison, the company stated in its RHP.
Rockingdeals Circular Economy Limited IPO subscription status is 213.64 times on day 3, so far. The issue received good response from retail investors who's portion set was subscribed 201.42 times, and a stellar response from non-institutional buyers who's portion set was subscribed 458.60 times, according to data on chittorgarh.com. QIB portion was booked 47.38 times.
The company has received bids for 21,25,75,000 shares against 9,95,000 shares on offer, at 16:21 IST, according to data on chittorgarh.com.
Rockingdeals Circular Economy Limited IPO subscription status is 16.35 times on day 1. The issue was booked 54.46 times on day 2.
Rockingdeals Circular IPO GMP today or grey market premium is +55. This indicates Rockingdeals Circular Economy share price were trading at a premium of ₹55 in the grey market on Friday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rockingdeals Circular share price is ₹195 apiece, which is 39.29% higher than the IPO price of ₹140.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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