Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The SME IPO of Rulka Electricals opened for subscription earlier today and will close on May 21. The company aims to raise about Rs 26.4 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
The company is in the business of turnkey projects contractors engaged in offering solutions for all types of electrical and fire fighting turnkey projects.
India's power generation witnessed its highest growth rate in over 30 years in FY23. Power generation in India increased by 8.87% to 1,624.15 billion kilowatt-hours (kWh) in FY23.
The IPO is entirely a fresh equity issue of 11.23 lakh shares and through the issue, the company aims to raise nearly Rs 26.4 crore.
The company is offering its shares at Rs 223-235 apiece, and investors can bid for 600 shares in 1 lot.
For the period ended February 2024, the company clocked revenues of Rs 65.27 crore and net profit of Rs 5.65 crore.
The net proceeds from the public offer will be used for funding working capital requirements, general corporate purposes, public issue expenses.
Beeline Capital Advisors is acting as the lead manager to the issue and Bigshare Services is the registrar.
About 50% of the offer is reserved for QIB investors, 35% for retail investors and the rest 15% for other investors.
The IPO opened on May 16 and will close on May 21. The final allotment will likely be made on May 22. The company's shares will likely get listed on May 24.
Ahead of the issue opening, the company's shares traded with a GMP of Rs 65 in the unlisted market.
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