The Rulka Electricals IPO, aiming to raise around ₹26.4 crore, opened for subscription on May 16 and closed on May 21. It comprises a fresh issue of 8.42 lakh shares aggregating to ₹19.80 crore and an offer for sale (OFS) of 2.81 lakh shares aggregating to ₹6.60 crore. Rulka Electricals will finalize the IPO allotment status today, May 22.
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If you applied for the IPO, here is how you can check the Rulka Electricals IPO allotment status.
Checking IPO Allotment Status on Registrar’s Website:
Follow these steps to check the Rulka Electricals IPO allotment statusVisit the registrar’s website.Pick a server to check your IPO Allotment Status.Select “Rulka Electricals Limited” from the companies listed in the drop-down menuIn the Selection Type dropdown, choose either Application number, Beneficiary ID, or PAN ID.Enter your ID as per your selection.Complete the ‘captcha’ to verify that you are not a robot.Click ‘Search’ to retrieve your Rulka Electricals IPO allotment status.
The Rulka allotment status will be visible if all the details are entered correctly and the allotment has been finalised.
Rulka Electricals IPO Subscription Status
On the final day of bidding, investors had subscribed 676.83 times to the ₹26.40-crore SME IPO of Rulka Electricals, bidding for 50.55 crore shares against the 7.47 lakh shares available. The retail category saw a subscription of 658.32 times, while the non-institutional investor (NII) category received a subscription of 1,350.15 times. Qualified Institutional Buyers (QIBs) subscribed 204.22 times.
Rulka Electricals IPO allocated 50% of its shares to Qualified Institutional Buyers (QIB), 15% to Non-Institutional Investors (NII), and 35% to Retail Individual Investors (RII).
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Rulka Electricals IPO GMP
Market observers report that Rulka Electricals Ltd’s unlisted shares are trading at ₹400 above the issue price in the grey market. This ₹400 grey market premium (GMP) suggests that the grey market anticipates a robust 170.21% gain upon listing from the public issue. Fluctuations in the GMP reflect changing market sentiments. The term ‘grey market premium’ reflects the extent to which investors are willing to pay above the issue price.
Rulka Electricals IPO Details
Rulka Electricals set the IPO price band at ₹223 to ₹235 per share, and they determined the minimum lot size for the application as 600 shares, requiring retail investors to invest a minimum of ₹1,41,000. The company plans to allocate ₹14 crore of the net proceeds from the IPO to finance working capital requirements for its business development. It will use the remaining funds for general corporate purposes and public offering expenses. Rulka Electricals expects the IPO to list on the NSE SME on Friday, May 24.
About Rulka Electricals Limited
Founded in May 2013, Rulka Electricals Limited specializes in electrical and fire-fighting solutions. The company provides services such as electrical installations, solar EPC contracts, turn-key projects, and data cabling across industrial, commercial, retail, and theatre sectors. It handles the design, supply, installation, testing, and commissioning of projects, earning all its revenue from Turnkey Projects that encompass materials, labour, and consulting.
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Rulka Electricals offers a range of services including Electrical, Fire Fighting, Security, Public Address, Access Control, Audio-Video, CCTV, IT & Networking, and Solar Systems.
