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Rockingdeals Circular Economy Ltd files DRHP with NSE Emerge for IPO

Posted On: 2023-09-25 18:01:13 (Time Zone: IST)

Rockingdeals Circular Economy Limited (RDCEL), a leading Indian B2B re-commerce player, today announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The company plans to offer up to 15,00,000 equity shares of face value Rs. 10/- each through the book-building process. RDCEL has appointed Corporate Capital Ventures Pvt. Ltd. as Book Running Lead Manager to the Issue and Bigshare Services Pvt. Ltd. as the Registrar to the Issue.

Rockingdeals Circular Economy recently concluded its pre-IPO round comprising a preferential issue of 4,80,130 Equity Shares at an Issue Price of INR 100/- per equity share. The company's object of the issue includes working capital requirement, brand positioning, marketing and advertising, and general corporate purpose.

"We are delighted to reach yet another milestone and get closer to our mission of becoming a publicly listed company," said Mr. Aman Preet, Promoter and Managing Director, RDCEL. "We started this venture to empower accelerating consumer aspirations of a price-conscious Bharat. During our journey, we have fortified the foundation in talent recruitment, vendor partnerships and presence across offline and online platforms. Now we are setting out to become a much larger player in an emerging yet high-growth industry and raising funds for the impending expansion and improving visibility for the company."

RDCEL is a leading B2B sourcing company in India, specializing in unboxed, excess inventory and refurbished products across 18 SKUs. It is a part of the Faridabad-headquartered Rockingdeals Group, which commands presence across the B2B sourcing to B2C retailing. The company was founded by Mr. Aman Preet, a first-generation entrepreneur who pioneered the concept of the 'organised seconds' category in mobile phones more than a decade ago. RDCEL is the sole sourcing partner for Rockingdeals Retail network and, in addition, also sells its products to other large and small vendors in the country. It partners with major brands like Syska, Havells, LG, Panasonic, Usha, Crompton, Luminous, Phillips, Zara, Nike, Campus, Boat, JBL, Gizmore, Lenovo, Snapdeal, Shopclues, Flipkart, and Amazon, as well as companies like GO Auto, Salora International, and Zazz Technology Connect Private Limited.

Re-commerce, or reverse supply chain, entails offering new products in exchange for old ones, reselling returned products, repairing defective products, or recycling or refurbishing used products. It has great significance in today's times when there is growing awareness amongst businesses and consumers about the need to make environmentally responsible choices. A report by Infogence Global Research estimated India's re-commerce at USD 29.54 billion in 2022 and projected it to grow at a CAGR of 6.15 per cent by 2027.

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