Racks & Rollers IPO price band has been set in the range of ₹73 to ₹78 per equity share of face value of ₹10 each. Racks & Rollers IPO will open for subscription on Tuesday, April 30, and close on Friday, May 3. Racks & Rollers IPO lot size consists of 1,600 shares.
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Minimum application size of 1,600 equity shares and in multiples of 1,600 equity shares thereafter. The floor price is 7.3 times of the face value and the cap price is 7.8 times of the face value. Bids may be placed for a minimum of 1,600 equity shares, and thereafter, in multiples of 1,600 equity shares.
According to the Red Herring Prospectus (RHP), it uses a racking system for storage. In addition to automated warehouses and other storage solutions, the firm specialises in the design, manufacture, and installation of metal storage racks. In order to meet the unique storage and logistical needs of a wide range of industries, including oil and gas, automotive components and aerospace, food and beverage, pharmaceutical, textile, retail, fast-moving consumer goods (FMCG), and others, the company offers a variety of products and services that show their dedication to providing creative, effective solutions for a variety of warehousing needs.
Not more than 50% of the net issue for QIBs, not less than 35% for retail investors, not less than 15% for non-institutional bidders, and not less than 5% of the issue for market makers have been set aside in the SME IPO.
The company’s promoters include Khasim Sait, Afzal Hussain, Mohammad Arif Abdul Gaffar Dor, Hanif A. Khatri, Syed Azeem, and Nuumaan Khasim.
According to RHP, Alphalogic Industries Ltd. is the company’s only listed peer (with a P/E of 33.17).
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Between March 31, 2022, and March 31, 2023, the company‘s profit after tax (PAT) climbed by 335.72%, while its sales increased by 16.42%.
Racks & Rollers IPO details
Racks & Rollers IPO, which is worth about ₹29.95 crore, consists of a fresh issue of 38,40,000 equity shares with a face value of ₹10. There is no offer-for-sale component.
The company plans to use the issue’s proceeds to achieve the following goals: to fulfill the general corporate purpose and working capital requirements.
The Racks & Rollers IPO basis for share allocation is tentatively scheduled to be finalised on Monday, May 6. The firm will commence refunds on Tuesday, May 7, and the shares will be deposited to the allottees’ demat account the same day after the refund. Racks & Rollers share price is likely to be listed on BSE SME on Wednesday, May 8.
The registrar for the Racks & Rollers IPO is Integrated Registry Management Services Private Limited, and the book running lead manager is Oneview Corporate Advisors Private Limited. Nikunj Stock Brokers is the market maker for the Racks & Rollers IPO.
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Racks & Rollers IPO GMP today
Racks & Rollers IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹78 with no premium or discount in the grey market according to investorgain.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
