Rockingdeals Circular Economy Limited (RDCEL), India's dedicated B2B sourcing platform for unboxed, certified refurbished, excess inventory products across the consumer retail space, has announced a price band for its IPO at Rs. 136-Rs. 140 per share. The IPO will open on Wednesday, November 22, 2023, with the anchor portion opening on Tuesday, November 21, and the issue closing on Friday, November 24, 2023. The company aims to raise approximately Rs. 21 crore from the issue and be listed with NSE Emerge.
The IPO will comprise a fresh issue of 15 lakh equity shares with a face value of Rs. 10 crore through the book-building route. 7 lakh shares have been reserved for the anchor and QIB portions, while the HNI portion is 2.15 lakh equity shares and the retail portion accounts for 5 lakh shares. Corporate Capital Ventures Private Limited is the bookrunner and lead manager for the issue. RDCEL plans to utilize proceeds from the issue towards working capital requirements, brand positioning, marketing and advertising, and general corporate purposes.
The circular economy concept aims to help reduce e-waste in the environment by enabling product companies to unlock capital by acquiring unwanted inventory. It also helps decelerate e-waste in the environment with prolonged usage by a new set of users. RDCEL builds visibility and breeds loyalty for brands in newer, untapped markets, leading to consumers graduating to fresh stock consumption. The company is planning to trap the markets in the North-East region.
RDCEL is part of Rockingdeals Group, founded by Yuvraj Aman Singh, who pioneered the concept of "Seconds" in India. The company certifies and sells products across 18+ categories to its B2B customers, including Rockingdeals' retail arm. It 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 clients, 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-square-foot warehousing facility in Faridabad and an L4 service center with an installed capacity to QC and grade one million units each month.
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. |
