Prominent B2B re-commerce firm, Rockingdeals Circular Economy Ltd (RDCEL), announced on Monday its plans to go public, after submitting draft papers for an Initial Public Offering (IPO). The company aims to list its shares on the NSE Emerge and will issue up to 1.5 million equity shares each with a face value of Rs 10 ($1 = Rs 83.1) through a book-building process.
The funds raised from the IPO will be allocated towards various uses, including meeting working capital requirements, brand positioning, marketing, advertising, and general corporate purposes. Corporate Capital Ventures Pvt Ltd is managing the IPO as the book-running lead manager.
Before this announcement, RDCEL concluded its pre-IPO round. This round saw a preferential issue of 480,130 shares at an issue price of Rs 100 each.
RDCEL is a B2B sourcing company that specializes in unboxed, excess inventory, and refurbished products across 18 stock keeping units. It was established by Aman Preet as part of the Faridabad-based Rockingdeals Group. The group has a significant presence spanning from B2B sourcing to B2C retailing.
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