January 17, 2025
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Subscription status of Rexpro Enterprises IPO
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Rexpro Enterprises IPO (Day 1) Price Rs. 145 Lot 1000 shares, Rs. 72.21Crore |
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| QIB | NII x | RII x | Total x | Applications |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Rexpro Enterprises?
Rexpro Enterprises Limited, established in March 2012, is a prominent furniture manufacturing company based in Vashi, Maharashtra. Initially focused on providing furniture and fixtures to retailers, the company has expanded its client base across diverse sectors including fashion, lifestyle, electronics, grocery, beauty, and telecom.
The company specializes in manufacturing furniture for a wide range of industries, including offices, hospitals, government institutions, and the rapidly growing home segment.
Notable clients of Rexpro Enterprises include Shoppers Stop Limited, One RX India Private Limited (Samsung), Hindustan Unilever, Lenskart, Marks & Spencer Reliance India Private Limited, and Godrej & Boyce Mfg. Co. Limited.
Rexpro operates three manufacturing units in Vashi, Maharashtra.
As of September 30, 2024, the company employs 65 permanent staff members and 126 contractual workers. Additionally, nine employees are on the payroll of its subsidiary, in addition to the 65 permanent staff.
Get more information about the company @ https://www.rexpro.co/
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Rexpro Enterprises IPO Details |
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| IPO opens on | 22 January 2025 |
| IPO closes on | 24 January 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 3700000 Shares / Rs 53.65 Crore |
| * Fresh Issue | 3250000 Shares / Rs 47.13 Crore |
| * Offer for Sale – | 450000 shares / Rs. 6.53 crore |
| Market Maker Portion | 186000 Shares |
| Net offer to Public | 3514000 Shares/ Rs.50.95 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 145 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1000 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (0%) | – | – |
| HNI (50%) | 1757000 | 25.47 |
| RII (50%) | 1757000 | 25.48 |
| Total Shares | 6110000 | 50.95 |
| Retail portion will be oversubscribed by |
1757 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1000 Shares | Rs.145000 |
| Min HNI Application | 2000 Shares | Rs. 290000 |
Who are the Promoters of Rexpro Enterprises?
The Promoters of the company are Minesh Anilbhai Chovatia, Premal Niranjan Shah, Ragesh Deepak Bhatia and Ravishankar Sriramamurthi Malla.
What are the Objects of Rexpro Enterprises IPO?
The Offer comprises of fresh issue of shares & offer for sale of shares.
The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Purchase of Equipment and Renovation of Factory
- Funding of working capital requirements of the Company.
- Pursuing Inorganic Growth
- General Corporate Expenses
Tentative timetable |
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| IPO opens on | 22 January 2024 |
| IPO Closes on | 24 January 2025 |
| IPO Allotment on | 27 January 2025 |
| Refund Initiation | 28 January 2025 |
| Credit of Shares | 28 January 2025 |
| Listing on | 29 January 2025 |
| Registered Office of the Company Rexpro Enterprises Limited Building No 2, WING A & B Survey No -36, Hissa No 13, Waliv Village Dhumal Nagar, Valiv, Thane, Vasai-401208, |
| Who is the Lead Manager of this IPO? Horizon Management Pvt ltd |
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Who is the Registrar to IPO? Cameo Corporate Services Ltd |
Rexpro Enterprises IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Rexpro Enterprises IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | ||||
| 2022-23 | 62.89 | 0.64 | ||
| 2023-24 | 83.01 | 4.53 | 5.69 | 56.24 |
| Book Value of the Share on 31.03.2024 |
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| BV of the Share at cap price after IPO |
Rs. | |||
| Offer Price/upper band | Rs. | 145 | ||
Key Performance
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| Price/EPS of 23-24 | 25.49 |
| Price/BV Ratio | |
| Debt/Equity Ratio | 0.97 |
How Rexpro Enterprises IPO compares with the Peers?
| As per RHP | FV | PE | RoNW |
| Ratio | Ratio | ||
| Rexpro Enterprises | 25.49 | 56.24 | |
| Naman e-store | 11.09 | 24.23 | |
| Parin Furniture | 137.18 | 3.92 | |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Rexpro Enterprises IPO Review by Paresh Gordhandas, CA & Research Analyst.
Rexpro Enterprises Limited, established in March 2012, is a prominent furniture manufacturing company based in Vashi, Maharashtra. Initially focused on providing furniture and fixtures to retailers, the company has expanded its client base across diverse sectors including fashion, lifestyle, electronics, grocery, beauty, and telecom.
The size of the IPO is not very large and with 1757 applications, retail portion can get one time subscribed. The shares are offered at reasonable valuation. However the sector in which the company operates may not have much fancy.
The lead manager: Horizon Management Pvt Ltd has 6:5 ratio of Positive:Negative listings.
+ from fundamental angle: May Apply
+ from grey market angle:
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