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Rockingdeals Circular Economy files IPO papers to further brand positioning

B2B re-commerce player Rockingdeals Circular Economy Ltd (RDCEL) on Monday said it has filed draft papers to raise funds through an Initial Public Offering (IPO)

IPO

Press Trust of India New Delhi

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B2B re-commerce player Rockingdeals Circular Economy Ltd (RDCEL) on Monday said it has filed draft papers to raise funds through an Initial Public Offering (IPO).
The shares of the company will be listed on the NSE Emerge, the company said in a statement.
The IPO comprises a fresh issue of equity shares of up to 15 lakh equity shares with a face value Rs 10 each through the book-building process.
Proceeds from the issue will be utilised towards working capital requirement, brand positioning, marketing, advertising, and general corporate purpose, the company said.
The company recently concluded its pre-IPO round comprising a preferential issue of 4,80,130 shares at an issue price of Rs 100 apiece, it said.
"We are delighted to reach yet another milestone and get closer to our mission of becoming a publicly listed company," RDCEL Promoter and Managing Director Aman Preet said.
Corporate Capital Ventures Pvt Ltd is the book-running lead manager of the IPO.
RDCEL is a B2B sourcing company, specialises in unboxed, excess inventory and refurbished products across 18 stock keeping units.
The company was founded by Aman Preet and is a part of the Faridabad-headquartered Rockingdeals Group, which commands presence across the B2B sourcing to B2C retailing.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sep 25 2023 | 5:56 PM IST

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