Rulka Electricals share price makes a bumper debut, stock opens with 123% premium at ₹525 apiece on NSE SME
- Rulka Electricals share price had a strong debut on NSE SME, with shares opening at ₹525, a 123.40% increase from the issue price.
Rulka Electricals share price made a bumper debut on NSE SME today. Rulka Electricals share price opened at ₹525, which is 123.40% higher than the issue price of ₹235.
Rulka Electricals IPO began subscriptions on Thursday, May 16, and closed on Tuesday, May 21. Rulka Electricals IPO price band was fixed between ₹223 and ₹235 per equity share with a face value of ₹10 each. The lot size for the Rulka Electricals IPO was 600 shares.
The Rulka Electricals IPO garnered ₹7.5 crore through the sale of 3.19 lakh equity shares to anchor investors at ₹235 apiece.
Rulka Electricals IPO subscription status was 676.83 times, on day 3. The retail portion was subscribed 658.32 times, and NII portion was booked 1,350.15 times. Qualified Institutions Buyers was booked 204.22 times.
Rulka Electricals was founded in 2013 by Rupesh Laxman Kasavkar and Nitin Indrakumar Aher, two entrepreneurs with over two decades of combined electrical expertise. The promoters' considerable experience in site execution and electrical/fire project work has helped shape the company's expansion strategy.
The Mumbai-based firm is a turn-key project contractor that provides solutions for all sorts of electrical and firefighting turnkey projects. It provides a wide range of services in the industrial, commercial, retail, and theatre sectors, including electrical solutions, electrical panels, solar EPC contracts, turnkey electrical warehousing projects, electrical commercial and industrial services, maintenance services, electrical contracting, and data and voice cabling installation. The firm also provides electrical contracting services for a variety of industrial sites.
Rulka Electricals IPO details
The company expects to raise around ₹26.4 crore through the sale. The company's IPO consists of a new issue of 8.42 lakh equity shares and an offer to sell up to 2.8 lakh equity shares having a face value of ₹10 via the book-building process.
It intends to use ₹14 crore of the net proceeds from the IPO to cover working capital requirements for developing its business activities. It intends to use the remaining money for normal company activities and public offering expenditures.
Beeline Capital Advisors Private Limited is the only Book Running Lead Manager for the offering, while Bigshare Services Private Limited serves as the Registrar.
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Rulka Electricals IPO GMP today
Rulka Electricals IPO GMP today is +410. This indicates Rulka Electricals share price were trading at a premium of ₹410 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 Rulka Electricals IPO expected listing price was indicated at ₹645 apiece, which is 174.47% higher than the IPO price of ₹235.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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