Racks & Rollers is set to launch its IPO, which will be open for subscription from April 30 to May 3. The company aims to raise ₹29.95 crores through this IPO on the BSE SME platform. With a price band of ₹73 to ₹78 per share and a market lot of 1600 shares, investors have the opportunity to participate in this offering.
Established in 2010, Racks & Rollers, operating under the brand Storage Technologies & Automation, specializes in providing storage racking systems. Their expertise lies in designing, manufacturing, and installing metal storage racks, automated warehouses, and other storage solutions. These products cater to various industries, including oil & gas, automotive components & aerospace, food & beverages, cold storage, pharmaceuticals, textiles, retail, and FMCG, among others.
The company adopts a customer-centric approach, focusing on continuous innovation and operational efficiency to meet the diverse warehousing needs of its clients. Their product range includes a wide variety of display and storage racks, manufactured using high-quality raw materials such as different grades of mild steel, powder for powder coating, epoxy, enamel paints, and plastic for packaging.
As an ISO 9001:2015 certified company, Racks & Rollers is committed to maintaining quality across its operations. Their infrastructure, spanning approximately 56,250 square feet in Bangalore, Karnataka, supports a streamlined manufacturing process, covering product designing, manufacturing, quality checking, packaging, storing, and delivery.
The IPO proceeds will primarily be utilized to meet working capital requirements and for general corporate purposes. The company’s financial performance reflects steady growth, with revenue increasing from ₹48.52 crores in 2021 to ₹81.37 crores in 2023. The net profit for October 2023 stood at ₹3.59 crores.
Investors interested in participating in the IPO can apply via ASBA available in their bank accounts or by downloading the IPO forms from the BSE website. The IPO allotment is expected to take place on May 6, with refunds and credit to demat accounts scheduled for May 7. The IPO is likely to list on May 8, providing investors with an opportunity to explore this offering further.
Racks & Rollers (Storage Technologies & Automation) IPO is scheduled with the following details:
– **IPO Open:** April 30, 2024
– **IPO Close:** May 3, 2024
– **IPO Size:** Approximately ₹29.95 Crores, comprising of 3,840,000 Equity Shares
– **Face Value:** ₹10 Per Equity Share
– **IPO Price Band:** ₹73 to ₹78 Per Equity Share
– **Listing:** BSE SME
– **Retail Quota:** 35% of the net offer
– **QIB Quota:** 50% of the net offer
– **NII Quota:** 15% of the net offer
– **DRHP Draft Prospectus:** [Link](provide the link)
– **RHP Draft Prospectus:** [Link](provide the link)
– **Anchor Investors in IPO:** [Link](provide the link)
**Market Lot for Racks & Rollers IPO:**
– The minimum market lot is 1600 shares, requiring an application amount of ₹124,800.
– Retail investors can apply for a minimum of 1600 shares and a maximum of 1600 shares.
– Super High Net Worth Individuals (S-HNIs) have a minimum lot size of 3200 shares, amounting to ₹249,600.
**Important Dates:**
– IPO Open Date: April 30, 2024
– IPO Close Date: May 3, 2024
– Basis of Allotment: May 6, 2024
– Refunds: May 7, 2024
– Credit to Demat Account: May 7, 2024
– IPO Listing Date: May 8, 2024
Investors can check the subscription status and allotment status on their respective pages.
**How to Apply for Racks & Rollers IPO:**
– Investors can apply via ASBA available in their bank accounts or download IPO forms from the BSE website.
– The IPO forms can be filled and submitted in the bank or with the broker.
**Financial Report for Racks & Rollers:**
– The company’s revenue has seen steady growth over the years, reaching ₹81.37 crores in 2023.
– Net profit for October 2023 stood at ₹3.59 crores.
**Valuation for FY2023:**
– Earning Per Share (EPS): ₹1.61 per Equity Share
– Return on Net Worth (RoNW): 20.89%
– Net Asset Value (NAV): ₹19.82 per Equity Share
**Peer Group:**
– Alphalogic Industries Limited
