Rexpro Enterprises IPO: The initial public offering (IPO) of Rexpro Enterprises, a furniture manufacturing company, kicked off for subscription on Wednesday, January 22. The company witnessed decent demand for its public issue on the first day of bidding as the issue sailed through within a few hours of bidding. Even in the grey market, Rexpro Enterprises IPO GMP today signalled a healthy listing premium for its shares.
Rexpro Enterprises IPO Subscription Details
As of 1.50 pm on Wednesday, the first day of bidding, the issue was subscribed 1.44 times, with the retail portion booked 2.54 times and the non-institutional buyers portion 0.35 times.
Rexpro Enterprises IPO Details
Here are key details about the Rexpro Enterprises IPO:
Rexpro Enterprises IPO date: The IPO opened for subscription on January 22 and closes on January 24.
Rexpro Enterprises IPO price band: The price band for Rexpro Enterprises IPO is fixed at ₹145 per share.
Rexpro Enterprises IPO size: The company is looking to raise ₹53.65 crore from the initial share sale.
Rexpro Enterprises IPO structure: The Rexpro Enterprises IPO is a mix of fresh issue of 32.50 lakh shares aggregating to ₹47.13 crore and offer for sale of 4.50 lakh shares worth ₹6.53 crore.
Rexpro Enterprises IPO lot size: Investors can apply for one lot of the IPO consisting of 1000 shares. Thus, the minimum amount of investment required by retail investors is ₹1,45,000.
Rexpro Enterprises IPO Objective: The company plans to use the funds raised via the IPO for the purchase of equipment and renovation of a factory, funding working capital needs, pursuing inorganic growth and general corporate expenses.
Rexpro Enterprises IPO GMP: The grey market premium for Rexpro Enterprises IPO stood at ₹48 today. At this GMP and issue price of ₹145, Rexpro Enterprises shares could list at ₹193 on NSE SME, a premium of 33%.
Rexpro Enterprises IPO BRLM: Horizon Management Private Limited is the book-running lead manager of Rexpro Enterprises IPO, while Cameo Corporate Services Limited is the registrar.
Rexpro Enterprises Financials: The revenues have grown at a CAGR of 53%, the operating EBITDA has grown at a CAGR of 149% and PAT has grown at CAGR of 197% over the past two years, according to the company’s RHP.
About Rexpro Enterprises: Based in Vasai, Maharashtra, Rexpro Enterprises provides furniture and fixtures to retailers and clients across multiple retail segments such as fashion, lifestyle, electronics, grocery, beauty, telecom etc. The company has further diversified into commercial and institutional furniture for offices, hospitals, government offices and also the growing home segment.
Shoppers Stop, One RX India Private Limited (Samsung), Hindustan Unilever, Lenskart, Marks & Spencer Reliance India Private Limited, and Godrej &
Boyce Mfg. Co. Limited are some of the large companies and brands that it caters to.
