ROX Hi-Tech IPO: From latest GMP to subscription status — here are top 10 things to know
- ROX Hi-Tech's IPO, which opened on November 7, is set to close on November 9. The company offers a comprehensive range of IT solutions, including consulting, managed print, and network services. Its revenue increased by 30.12% and profit after tax rose by 913.13% between March 2022 and March 2023.
ROX Hi-Tech IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) ROX Hi-Tech opened for subscription on November 7 and will close on November 9. ROX Hi-Tech Limited is a customer-centric IT solutions provider. The company offers a comprehensive range of distributed IT solutions, including consulting, enterprise and end-user computing, managed print, and network services.
The IT solutions provider also offers digital transformation solutions, network and collaboration, IT And OT Security, datacenter solutions (on-premises and cloud), as well as smart edge devices. It designs, develops, deploys and maintains IT solutions for end user utilities and pre-compiled application stack. Jim Rakesh and Sukanya Rakesh are the promoters of the company.
The company's marque client list includes CAMS, Vestas, BHEL, Murugappa group, Nippon Paints, L & T, Trivitron, among others. ROX Hi-Tech Limited's revenue increased by 30.12 per cent and profit after tax (PAT) rose by 913.13 per cent between the financial year ending with March 31, 2023 and March 31, 2022.
Here are the 10 key things to know about ROX Hi-Tech IPO:
ROX Hi-Tech IPO Dates: ROX Hi-Tech IPO opens for subscription on November 7, 2023 and closes on November 9, 2023.
ROX Hi-Tech IPO Price Band: ROX Hi-Tech IPO price band is set at ₹80 to ₹83 per share at a face value of ₹10 per share for the public issue.
ROX Hi-Tech IPO Lot Size: Investors can bid for a minimum of 1,600 shares and in multiples thereof.
ROX Hi-Tech IPO Details: ROX Hi-Tech IPO is a book built issue of ₹54.49 crore. The issue is a combination of fresh issue of 60.18 lakh shares aggregating to ₹49.95 crore and offer for sale of 5.47 lakh shares aggregating to ₹4.54 crore.
ROX Hi-Tech IPO Objectives: The company plans to utilise the fresh issue proceeds for funding capital expenditure, setting up a network operations Centre (NOC), Security Operations Centre (SOC), and Medical Automation Centre at Chennai. It will also utilise funds for setting up a Global Software Delivery Center in Noida. The amount raised will also used for working capital requirements and general corporate expenses.
ROX Hi-Tech IPO allotment date and ROX Hi-Tech listing date: The allotment for the ROX Hi-Tech IPO is expected to be finalized on Wednesday, November 15, 2023. The company will initiate refunds on November 16 and shares will be credited to demat accounts on November 17. ROX Hi-Tech IPO will list on NSE SME with tentative listing date fixed as Monday, November 20, 2023.
Lead Manager and Registrar of ROX Hi-Tech IPO: Swaraj shares and securities private limited is the book running lead manager of the ROX Hi-Tech IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for ROX Hi-Tech IPO is Share India Securities.
ROX Hi-Tech IPO Reservation: The IT solutions provider has reserved 16 per cent of the offer size for the qualified institutional buyers (QIBs), 13.64 per cent for high net-worth individuals (non-institutional investors or NIIs), and 33 per cent for retail individual investors (RIIs). 24.06 per cent was reserved for anchor investors.
In terms of shares, ROX Hi-Tech IPO offers 6,569,600 shares (including anchor investors and market maker portion). Out of this, 1,051,200 (16.00 per cent) to QIB, 896,000 (13.64 per cent) to NII, 2,193,600 (33.39 per cent) to RII and 1,580,800 (24.06 per cent) to anchor investors.
ROX Hi-Tech IPO Subscription Status: On the second day, ROX Hi-Tech IPO was subscribed was subscribed 53.30 times, so far, as per data available on chittorgarh.com.
The issue received positive response from retail investors who's portion set was subscribed 79.96 times, and good response from non-institutional buyers who's portion set was subscribed 40.49 times. QIB's subscribed 8.58 times to the issue. The company has received bids for 22,07,05,600 shares against 41,40,800 shares on offer, at 16:27 IST, according to data on chittorgarh.com.
ROX Hi-Tech IPO was subscribed 21.69 times on the first day of issue. The public issue was subscribed the highest in the retail segment at 29.05 times on day one, 7.91 times in the QIB category, and 19.82 times in the NII category.
ROX Hi-Tech IPO has received bids for 8,97,98,400 shares against 41,40,800 shares on offer, according to Chittorgarh.com.
ROX Hi-Tech IPO's retail investors' portion received bids for 6,37,28,000 shares against 21,93,600 shares on offer for this segment. The SME IPO's retail portion was subscribed 29.05 times.
ROX Hi-Tech IPO's Q1B portion received bids for 83,13,600 shares against 10,51,200 shares on offer for this segment. The SME IPO's QIB portion was subscribed 7.91 times.
ROX Hi-Tech IPO's NII portion received bids for 1,77,56,800 shares against 8,96,000 shares on offer for this segment. The SME IPO's NII portion was subscribed 19.82 times.
ROX Hi-Tech IPO GMP Today: ROX Hi-Tech SME IPO last GMP is ₹90. This indicates ROX Hi-Tech share price were trading at a premium of ₹90 in the grey market on Wednesday, according to investorgain.com. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of ROX Hi-Tech share price is ₹173 apiece, which is 108.43 per cent higher than the IPO price of ₹83.
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