Rockingdeals Circular IPO: Check latest GMP, first day subscription status and other important details

Rockingdeals Circular Economy IPO opened for subscription on Wednesday, November 22nd and closes on Friday, November 24th. The price range of Rockingdeals Circular Economy is in the range of ₹136 to ₹140. Investors can bid for at least 1000 shares and multiples thereof. The nominal value of the shares is ₹10 pieces and the issue price is 13.60 to 14.00 times the face value of the lower price range or the upper price range.

Rockingdeals specializes in wholesale open, resale, refurbished and surplus inventory.

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Using the company’s range of services, other businesses can quickly get rid of their extra inventory, freeing up important space and money. Both the seller and the buyer benefit from the smooth and open process.

The company’s promoters are Aman Preet, Kulbir Chopra and Avneet Chopra.

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Details about the IPO of Rockingdeals Circular Economy

Rockingdeals Circular IPO that is worth it ₹21 crore, is an entirely new issue of 15,000,000 equity shares; According to Red Herring Prospectus (RHP), there is no offer-for-sale (OFS) component.

The Company plans to use the net proceeds for general corporate purposes, brand positioning, marketing and advertising, and to meet working capital needs.

The Registrar of Rockingdeals Circular Economy IPO is Bigshare Services Pvt Ltd and the Book Running Lead Manager is Corporate Capitalventures Pvt Ltd. Ss Corporate Securities is the market maker for the Rockingdeals Circular Economy IPO.

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There are no listed competitors for the company. Within their respective business segments, none of the Indian companies listed offer re-commerce products. Therefore, a strict comparison is not possible, the company said in its RHP.

Rockingdeals Circular Economy Limited IPO Subscription Status

Rockingdeals Circular Economy Limited’s IPO subscription status is 14.70x on the first day so far. According to chittorgarh.com, the issue received excellent response from retail investors whose share rate was subscribed 23.51 times and received good response from non-institutional buyers whose share rate was subscribed 13.35 times. The QIB share was recorded at 2%.

According to chittorgarh.com, the company has received offers for 1,46,30,000 shares against 9,95,000 shares on offer at 16:53 IST.

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Rockingdeals Circular IPO GMP today

Rockingdeals Circular IPO GMP today or gray market premium is +55. This suggests that Rockingdeals Circular Economy’s share price was trading at a premium of ₹55 on the gray market on Wednesday, according to investorgain.com.

Taking into account the upper end of the IPO price range and the current gray market premium, the estimated listing price of Rockingdeals Circular stock is ₹195 per piece, which is 39.29% higher than the IPO price of ₹140.

“Gray market premium” indicates investors’ willingness to pay more than the issue price.

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Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, not Mint. We recommend investors consult certified experts before making an investment decision.

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