Racks & Rollers IPO: The initial public offering opens for subscription today (April 30). The public issue- with a price band in the range of ₹73 to ₹78 per equity share of face value of ₹10 each- will close on May 3. The issue’s lot size consists of 1,600 shares and minimum application size for the IPO is of 1,600 equity shares and in multiples of 1,600 equity shares thereafter.
Read More: Stock Market Updates: Sensex Rises Over 100 Points, Nifty Nears 22,700; M&M Up 2%
Racks & Rollers IPO company details
he company specialises in automated warehouses, storage solutions, design, manufacture and installation of metal storage racks. The firm also offers unique storage and logistical needs of a wide range of industries- oil and gas, automotive components and aerospace, food and beverage, pharmaceutical, textile, retail, fast-moving consumer goods (FMCG), and others. The company’s promoters are Khasim Sait, Afzal Hussain, Mohammad Arif Abdul Gaffar Dor, Hanif A. Khatri, Syed Azeem and Nuumaan Khasim.
Between March 31, 2022, and March 31, 2023, the company’s profit after tax (PAT) climbed by 335.72%.
Read More: JNK India listing: Shares make stellar debut at 50% premium over IPO price
Racks & Rollers IPO details
In the IPO, 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.
The IPO is worth about ₹29.95 crore and consists of a fresh issue of 38,40,000 equity shares with a face value of ₹10. There is no offer-for-sale component in the issue.
Racks & Rollers IPO objectives
Net proceeds from the IPO will be used by the company for general corporate purpose and working capital requirements, it said.
Read More: Emmforce Autotech Shares List At 90% Premium
Racks & Rollers IP) listing
The shares of the IPO are likely to be listed on BSE SME on May 8.
Racks & Rollers IPO lead manager
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.
Racks & Rollers IPO GMP today
The grey market premium was ₹0 which means that shares were trading at their issue price of ₹78 with no premium or discount, as per investorgain.com
