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06 May 2024

Rulka Electricals Limited IPO

Rulka Electricals Ltd offers a wide range of services for Engineering, Installation, Commissioning, upcoming projects and for operation & maintenance of existing plants. The company provides electrical supplies for commercial, industrial, residential complexes, utilities and telecommunications. The employees of RULKA ELECTRICALS PVT. LTD wishes to share their knowledge and expertise of the electrical material and equipment needed by the customers. The company has been growing fast from the time of its establishment due to its capacity of providing customized solutions in the field of Electrical. The products & services are carefully selected to meet the vision and mission of the Company. The Services include consultancy, Designing, Supplying and installation of the reliable and quality products.

Rulka Electricals will treat every customer equally irrespective of its size. Rulka Electricals will always take care of its employees, who it considers to be its most important asset.” Rulka Electricals IPO is a book-built issue of Rs 26.40 crores. The issue is a combination of fresh issue of 8.42 lakh shares aggregating to Rs 19.80 crores and offer for sale of 2.81 lakh shares aggregating to Rs 6.60 crores. Rulka Electricals IPO price band is set at ₹223 to ₹235 per share. The minimum lot size for an application is 600 Shares. Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Rulka Electricals IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Rulka Electricals IPO is Sunflower Broking.

Rulka Electricals IPO Overview

Detail	Description
IPO Date	May 16, 2024 to May 21, 2024
Listing Date	[.]
Face Value	₹10 per share
Price Band	₹223 to ₹235 per share
Lot Size	600 Shares
Total Issue Size	1,123,200 shares (aggregating up to ₹26.40 Cr)
Fresh Issue	842,400 shares (aggregating up to ₹19.80 Cr)
Offer for Sale	280,800 shares of ₹10 (aggregating up to ₹6.60 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Share holding pre issue	3,416,000
Share holding post issue	4,258,400
Market Maker portion	56,400 shares

Rulka Electricals IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Thursday, May 16, 2024
IPO Close Date	Tuesday, May 21, 2024
Basis of Allotment	Wednesday, May 22, 2024
Initiation of Refunds	Thursday, May 23, 2024
Credit of Shares to Demat	Thursday, May 23, 2024
Listing Date	Friday, May 24, 2024
Cut-off time for UPI mandate confirmation	5 PM on May 21, 2024

Rulka Electricals IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	600	₹141,000
Retail (Max)	1	600	₹141,000
HNI (Min)	2	1,200	₹282,000

Rulka Electricals IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue
NII (HNI) Shares Offered	Not less than 15% of the Net Issue

Rulka Electricals IPO Promoter Holding

Share Holding Pre Issue	86.28%
Share Holding Post Issue	69.22%

Rulka Electricals IPO Anchor Investors Details

Bid Date	May 15, 2024
Shares Offered	319,200
Anchor Portion Size (In Cr.)	7.50
Anchor lock-in period end date for 50% shares (30 Days)	June 21, 2024
Anchor lock-in period end date for remaining shares (90 Days)	August 20, 2024

Company & Financials

Founded in May 2013, Rulka Electricals Limited is an electrical and Fire-Fighting solutions company. The company offers various services, including electrical solutions, electrical panels, solar EPC contracts, turn-key electrical warehousing projects, electric commercial industrial services, maintenance services, electrical contracting and data and voice cabling installation. These services cater to various sectors such as industrial, commercial, retail and theatre. The company's integrated operations encompass designing, supplying, installing, testing and commissioning the project.
The company's services can be divided into the following categories:-

● Electrical Services
● Fire Fighting Systems
● Security Systems
● Public Address Systems
● Access Control Systems
● Audio-Video Systems Services
● CCTV Systems Service
● IT & Networking Services
● Solar Systems

The company is ISO 9001:2015 certified for its quality management systems.

Rulka Electricals Limited Financial Information

Period Ended	29 Feb 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	4,082.09	2,826.95	1,919.04	982.41
Revenue	6,527.77	4,689.78	3,627.41	1,960.11
Profit After Tax	565.77	280.52	112.08	53.72
Net Worth	1,290.15	557.33	276.82	164.74
Reserves and Surplus	948.55	546.33	265.82	153.74
Total Borrowing	1,104.89	527.07	281.46	230.99
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	61.25%
ROCE	33.67%
Debt/Equity	2.16
RoNW	43.85%
P/BV	6.22
PAT Margin (%)	8.68

	Pre IPO	Post IPO
EPS (Rs)	8.21	14.49
P/E (x)	28.62	16.21

Objectives of Rulka Electricals IPO

The company intends to utilize the proceeds of the Offer to meet the following objectives: -

1. To Meet Working Capital Requirements.
2. General Corporate Purpose.
3. To Meet the Offer Expenses.

Rulka Electricals IPO Review

The company is providing many services under one roof with major thrust on Electrical, Fire Fighting systems. It marked growth in its top and bottom lines for the reported periods and major high margin contracts lifted its bottom line. Based on FY24 annualized super earnings, the issue is fully priced. The company serves many blue-chip clients. However, small post-IPO paid-up equity capital indicates a longer gestation period for migration. Investors may park funds for the long term rewards.

FAQs for Rulka Electricals IPO

What is Rulka Electricals IPO?

Rulka Electricals IPO is an NSE SME IPO. They are going to raise ₹26.40 Crores via IPO. The issue is priced at ₹223 to ₹235 per equity share. The IPO is to be listed on NSE.
When will Rulka Electricals IPO?

The IPO is to open on May 16, 2023 for QIB, NII, and Retail Investors.
What is Rulka Electricals IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is Rulka Electricals IPO Size?

Rulka Electricals IPO size is ₹26.40 crores.
What is Rulka Electricals IPO Price Band?

Rulka Electricals IPO Price Band is ₹223 to ₹235 per equity share.
What is Rulka Electricals IPO Allotment Date?

Rulka Electricals IPO allotment date is May 22, 2023.
What is Rulka Electricals IPO Listing Date?

Rulka Electricals IPO listing date is May 24, 2023. The IPO to list on NSE SME.