Racks and Rollers, a brand of Storage Technologies & Automation Pvt. Ltd. is one of the most influential leaders and a coveted name in the Storage, Warehousing, and Automation industry. Storage Technologies & Automation Pvt. Ltd. is coming up with an IPO to raise funds from the public.
Racks and Rollers IPO is based on the Book Built Issue. The Issue size of the IPO is Rs. 29.95 Crores comprising of fresh issue of 38,40,000 shares. Racks and Rollers IPO will be open on 30th April 2024 for subscription and closed on 03 May 2024 for the subscription.
The allotment of Racks and Rollers IPO is expected to be finalized on 06 May 2024 and is expected to be listed on the BSE SME platform on 08 May 2024. The Issue price band of the IPO is set at Rs. 73 to Rs. 78 Per Share. The minimum lot size for an application is 1600 shares and the minimum amount of investment required to subscribe to the Racks and Rollers IPO under the Retail category is Rs. 1,24,800. The Minimum lot size and the minimum amount of Investment required for an application under the HNI category are 3200 shares and Rs. 2,49,600 respectively.
The book-running lead manager of the Racks & Rollers IPO is Oneview Corporate Advisors Private Limited and the registrar is Integrated Registry Management Services Private Limited for the issue. The market maker for Racks & Rollers IPO is Nikunj Stock Brokers.
Refer Racks and Rollers DHRP for more details about the company and the IPO.
The Company was founded in the year 2009 by Mr. Hanif Khatri, who has over 30 years of experience in the warehousing and logistics industry. Currently, the company is among the leading suppliers of Racking, Shelving and Automation solutions and have proudly served PepsiCo International, LDC, Debenhams and Unlimited among 2500 other companies across the globe.
Objectives of Racks & Rollers IPO
We intend to utilize the proceeds of the Issue to meet the following objects :
1. To meet Working Capital requirements
2. General Corporate Purpose
The Company believes that listing will enhance the corporate image and visibility of brand name of the Company. The main objects clause of company's Memorandum of Association (MOA) enables the Company to undertake its existing activities and these activities which have been carried out until now by the Company are valid in terms of the objects clause of company's Memorandum of Association (MOA).
The GST registration process at FinanceSaathi is quick, transparent, and end-to-end online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation & Eligibility Check – Our experts assess your business and required documents. | 1 Day |
| 2 | Document Collection & Preparation – You share scanned copies; we prepare the application. | 1–2 Days |
| 3 | Online Application Submission – Filing GST REG-01 on GST portal. | 1 Day |
| 4 | ARN Generation & Verification – Acknowledgment number generated and verified. | 1 Day |
| 5 | GST Officer Review – Department may seek clarification if required. | 2–3 Days |
| 6 | GSTIN Allotment & Certificate Issued – Once approved, you receive your GST registration certificate via email. | 3–5 Days Total |
Estimated Total Duration: 3–5 Working Days
The GST registration process at FinanceSaathi is quick, transparent, and end-to-end online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation & Eligibility Check – Our experts assess your business and required documents. | 1 Day |
| 2 | Document Collection & Preparation – You share scanned copies; we prepare the application. | 1–2 Days |
| 3 | Online Application Submission – Filing GST REG-01 on GST portal. | 1 Day |
| 4 | ARN Generation & Verification – Acknowledgment number generated and verified. | 1 Day |
| 5 | GST Officer Review – Department may seek clarification if required. | 2–3 Days |
| 6 | GSTIN Allotment & Certificate Issued – Once approved, you receive your GST registration certificate via email. | 3–5 Days Total |
Estimated Total Duration: 3–5 Working Days
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