Rosmerta Digital Services IPO opens November 18, sets price band at ₹140-147 apiece; check GMP, other key details
- Rosmerta Digital Services IPO opens on November 18 and closes on November 21, with a price band of ₹140-147 per share. The company aims to raise ₹206.33 crore to finance various growth initiatives and has seen significant revenue and profit increases recently.
Rosmerta Digital Services IPO opens for subscription on Monday, November 18, and closes on Thursday, November 21. Rosmerta Digital Services IPO price band has been fixed at range of ₹140-147 per equity share of face value of ₹2 each. Bids can be made for a minimum of 1,000 equity shares and in multiples of 1,000 equity shares thereafter. The floor price and cap price are 7 times and 73.50 times of the face value of the equity shares.
Rosmerta Digital Services Limited, which is a subsidiary of Rosmerta Technologies Ltd, has been involved in offering digitally enabled services and sales channels for automotive components and accessories. The company started by providing vehicle registration services to Original Equipment Manufacturers (OEMs) and has gradually expanded into a wide array of services, such as garage services, last-mile delivery, and the sale of automotive components and accessories, among others.
As per the red herring prospectus (RHP), the company's sole listed peer is BLS E-services Ltd (with a P/E of 217.53).
Rosmerta Digital Services saw a revenue boost of 183%, while profit after tax (PAT) surged by 553% from the financial year ending March 31, 2023, to March 31, 2024.
Rosmerta Digital Services IPO details
Rosmerta Digital Services IPO consists of fresh issue of 14,036,000 equity shares aggregating to ₹206.33 crore. There's no offer for sale (OFS) component.
The firm plans to use the net proceeds from the Issue to accomplish several goals, including financing capital expenditure for acquiring office space in Mumbai; establishing warehouses, prototype workshops, and experience centers across different regions of India; developing IT infrastructure; fulfilling the company's working capital needs; pursuing inorganic growth through acquisitions and other strategic efforts; and addressing general corporate purposes.
Narnolia Financial Services Ltd and Beeline Capital Advisors Pvt Ltd serve as the lead managers for the Rosmerta Digital Services IPO, with Link Intime India Private Ltd acting as the issue's registrar. Spread X Securities is the market maker for the Rosmerta Digital Services IPO.
Rosmerta Digital Services IPO GMP today
Rosmerta Digital Services IPO GMP today is +22. This indicates Rosmerta Digital Services share price was trading at a premium of ₹22 in the grey market, 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 Rosmerta Digital Services share price is indicated at ₹169 apiece, which is 14.97% higher than the IPO price of ₹147.
According to the analysis of grey market activities over the past twelve sessions, today's IPO GMP is on an upward trend and is anticipated to have a robust listing. The minimum GMP recorded is ₹0, whereas the maximum GMP stands at ₹31, as stated by experts from investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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 decision.
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