Rockingdeals sets IPO price at Rs136-140/share

Hyderabad: Rockingdeals Circular Economy Ltd (RDCEL), India’s dedicated B2B sourcing platform for unboxed, certified refurbished, excess inventory products across the consumer retail space, announced that its IPO will open on Wednesday (November 22). The Anchor portion will be open on Tuesday (November 21), and the issue will conclude on Friday (November 24). The company is looking to raise approximately Rs21 crore (on the upper price band) from the issue and aims to be listed with NSE Emerge. The price range for the issue has been fixed at Rs136-Rs140 per share. Corporate Capital Ventures Pvt Ltd is the Book Running Lead Manager for the Issue.

The IPO will comprise a fresh issue of 15 lakh equity shares with a face value of Rs10 through the book-building route. As many as 7 lakh shares have been reserved for anchor and QIB portion, while HNI portion is 2.15 lakh equity shares and retail portion accounts for 5 lakh shares. RDCEL plans to utilise proceeds from the issue towards working capital requirements, brand positioning, marketing and advertising, and general corporate purposes.

RDCEL is a part of Rockingdeals Group, founded by Yuvraj Aman Singh, who pioneered the concept of seconds in India. RDCEL certifies and sells products across 18 categories to its B2B customers, including Rockingdeals’ retail arm (as its exclusive procurement partner). RDCEL has an exclusive supply to serve around 70,000 sft of retail space through Rockingdeals and its franchise network. The company also procures unboxed and excess inventory from well-known brands such as affiliates of Flipkart, Snapdeal, Amazon, Whirlpool, Puma, Hindware, Godrej etc. RDCEL has sold over 10 million units through a reputed network of B2B clientele, including its group company (Rocking Deals). RDCEL operates a 30,000-sft. warehousing facility in Faridabad and an L4 service centre with an installed capacity to QC & grading one million units each month.

The Faridabad-headquartered company has over 20 employees with comprehensive experience in sourcing, grading and pricing products across categories. RDCEL’s total revenues stood at Rs15.01 crore in FY23, while its EBITDA and PAT were Rs2.73 crore and Rs1.54 crore respectively. For Q1-FY24, the company registered total revenue of Rs9.58 crore, EBITDA of Rs1.87 crore and PAT of Rs1.25 crore.

The company aims for environment-friendly business and circular economy. Every year, the fast-fashion industry produces 92-million tonnes of textile waste, three per cent of global CO2 emissions, and 20 per cent of global waste-water pollution. Enables product companies to unlock capital by acquiring unwanted inventory. Helps decelerate E-Waste in the environment with prolonged usage by a new set of users. Helps reduce E-waste & partners with sustainability agenda for global and Indian brands.