Rulka Electricals IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Rulka Electricals Limited IPO GMP

Rulka Electricals is launching an IPO with a book-built issue worth Rs 26.40 crores. This includes a fresh issue of 8.42 lakh shares totaling Rs 19.80 crores and an offer for sale of 2.81 lakh shares totaling Rs 6.60 crores. The IPO bidding period opened on May 16, 2024, and will close on May 21, 2024.

The allotment is expected to be finalized on May 22, 2024, with the shares set to list on the NSE SME on May 24, 2024. The IPO price band is set between ₹223 and ₹235 per share. Retail investors need a minimum investment of ₹141,000 for 600 shares, while high net-worth individuals (HNI) must invest at least ₹282,000 for two lots of 1,200 shares.

Beeline Capital Advisors Pvt Ltd is serving as the book-running lead manager, Bigshare Services Pvt Ltd is the registrar, and Sunflower Broking is the market maker for this IPO.

The company intend to utilize the proceeds of the Offer:

To Meet Working Capital Requirement.
General Corporate Purpose.
To Meet the Offer Expenses.

Listing will enhance corporate image and visibility of brand name of the Company believing that Company will receive the benefits from listing of Equity Shares on the SME Platform of NSE. It will also provide liquidity for the existing shareholders creating a public trading market for the Equity Shares of the Company.