APN News

  • Tuesday, April, 2024| Today's Market | Current Time: 11:49:30
  • Faridabad : Rockingdeals Circular Economy Limited, India’s dedicated B2B sourcing platform for unboxed, certified refurbished, excess inventory products across the consumer retail space, today announced that its Initial Public Offer will open on Wednesday, November 22, 2023. The Anchor portion will be open on Tuesday, November 21, 2023, and the issue will conclude on Friday, November 24, 2023. The company is looking to raise approximately Rs.  21 crore from the issue and aims to be listed with NSE Emerge. The price range for the issue has been fixed at Rs. 136 – Rs. 140 per share. Corporate Capital Ventures Private Limited 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 Rs 10/- through the book-building route. 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 sq. ft. 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), Jindal Mega Mart, Shopclues, Brand Wala, VLE Bazaar, HIC International, PSUAVI, KRAT India and Zazz Technology. RDCEL operates a 30,000 sq. Ft. 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 20+ employees with comprehensive experience in sourcing, grading and pricing products across categories. RDCEL’s total revenues stood at Rs. 15.01 crore in FY23, while its EBITDA and PAT were Rs. 2.73 crore and Rs. 1.54 crore respectively. For Q1FY24, the company registered total revenue of Rs. 9.58 crore, EBITDA of Rs. 1.87 crore and PAT of Rs. 1.25 crore.

    SEE COMMENTS

    Leave a Reply