RDCEL plans to raise about Rs 25 crore from its initial public offering (IPO), including a successfully completed Pre-IPO round of Rs 4.80 crore
Rocking Deals Circular Economy Ltd (RDCEL), a B2B re-commerce player, is planning to list on NSE Emerge in November 2023 and raise about Rs 25 crore from its initial public offering (IPO), including a successfully completed Pre-IPO round of Rs 4.80 crore. The company also has its eyes set on multi-fold growth in the next two years, riding on expanding brand partnerships and wider national footprints.
Read More: Shanthala FMCG Products Limited IPO Opens For Subscription; Check Price, Issue Size, Allotment Date
The company has four warehouses and is further planning to expand its footprints in northeast India, a high-growth consumer retail market, according to a statement.
RDCEL filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge in September 2023 and plans to offer up to 15,00,000 equity shares of face value Rs 10 each through the book-building process.
Read More: Stock market crash of October 28, 1929, the first ‘Black Monday’ for global investors
The company has appointed Corporate Capital Ventures Pvt. Ltd. as Book Running Lead Manager to the Issue and Bigshare Services Pvt. Ltd. as the Registrar to the Issue.
Aman Preet, promoter and managing director of RDCEL, said, “The governments, corporates and brands globally are focusing on reducing disposal and e-waste as well as supporting the right to repair movement – be it in terms of standardising accessories, spare parts or even offering software updates for 5-7 years.”
Read More: Diwali Muhurat Trading 2023: Check Stock Market Timings For November 12
He added that the point being sustainability agenda and consumerism can go hand in hand if the next 10 per cent of consumers can be tapped — who see the value in the product they pay for. This is the core of what we at Rockingdeals Circular Economy aim to achieve.
