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Rulka Electricals IPO: The Rulka Electricals initial public offering (IPO) was oversubscribed by 13.76 times on day two of its subscription on Friday. The company began the subscription process on Thursday, May 16, and is set to conclude the subscription on Tuesday, May 21. The IPO issue is priced between Rs 223 and Rs 235 per equity share with a face value of Rs 10 each.
Anchor investors have already contributed Rs 7.5 crore through the sale of 3.19 lakh equity shares at Rs 235 apiece, attracting notable participants such as BOFA Securities Europe SA - ODI, Negen Undiscovered Value Fund, and Galaxy Noble Global Opportunities among others.
Rulka Electricals IPO GMP
Rulka Electricals SME IPO's present GMP on May 17th, 2024 is Rs 235. With a price band of Rs 235.00, Rulka Electricals SME IPO's estimated listing price is Rs 470 with an expected listing gain of 100.00 per cent per share.
Rulka Electricals IPO lot size
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Investors are required to apply for a minimum of 600 shares, with additional shares available in multiples of 600.
The IPO comprises a new issue of 8.42 lakh equity shares and an offer to sell up to 2.8 lakh equity shares, both with a face value of Rs 10, through the book-building process.
The IPO has allocated shares to different categories, including 56,400 for market makers, 1.6 lakh for HNIs, 2.13 lakh for QIBs, and 3.73 lakh for retail investors. The company aims to raise approximately Rs 26.4 crore through the IPO, with the net proceeds of Es 14 crore earmarked for working capital requirements to support business growth. Rulka Electricals IPO will be listed on NSE SME with the tentative listing date fixed as Friday, May 24, 2024.
Beeline Capital Advisors Private Limited acts as the sole Book Running Lead Manager, while Bigshare Services Private Limited serves as the Registrar for the offering.
Rulka Electricals financials
According to the financials provided in the draft red herring prospectus (DRHP), the company's revenues soared by 29.2 per cent at Rs 468 crore in the financial year 2022-23 as against Rs 362 crore in the year-ago period. The electrical solutions firm registered a net profit of 28 crore in FY23 versus Rs 11 crore in FY22, a jump of 154 per cent.
About Rulka Electricals
Rulka Electricals specialises in providing electrical and fire-fighting solutions. Their services include electrical solutions, electrical panels, solar EPC contracts, turn-key electrical warehousing projects, electric commercial and industrial services, maintenance services, electrical contracting, and data and voice cabling installation. These services cater to a wide array of sectors, including industrial, commercial, retail, and theatre.
