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Business News/ Markets / Ipo/  Rockingdeals Circular IPO: Check latest GMP, subscription status on day 3, other key details
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Rockingdeals Circular IPO: Check latest GMP, subscription status on day 3, other key details

Rockingdeals Circular Economy IPO opened for subscription on November 22 and will close on November 24. The price band is set at ₹136 to ₹140.

Rockingdeals Circular Economy IPO has opened for subscription on Wednesday, November 22, and will close on Friday, November 24. Premium
Rockingdeals Circular Economy IPO has opened for subscription on Wednesday, November 22, and will close on Friday, November 24.

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.

Also Read: Tata Tech, Flair Writing, Fedbank Financial, Gandhar Oil Refinery, IREDA IPO: Check out this FAQ before investing

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 Economy IPO details

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.

Also Read: IREDA IPO day 2: Issue subscribed over 4 times, so far; NIIs, retail investors lead bidding process

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

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. 

Also Read: Flair Writing IPO open today: GMP, issue details, price band, 10 key things to know before investing

Rockingdeals Circular IPO GMP today

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.

Also Read: Gandhar Oil IPO gets fully subscribed within hours of opening

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 22 Nov 2023, 05:08 PM IST
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