Rexpro Enterprises’ initial public offering (IPO) on the NSE SME platform opened at ₹117, a 19% decrease from its January 29 issue price of ₹145.
Rexpro Enterprises IPO Listing:
On Wednesday, January 29, shares of Rexpro Enterprises, a furniture manufacturing firm, made a lackluster debut on the NSE SME platform. The share price of Rexpro Enterprises started at ₹117, which was 19% less than its issue price of ₹145. Shortly after opening, the stock fell to ₹111.15, its 5% lower circuit.
Market sources claim that the stock listing did not meet the expectations of the gray market. On Wednesday morning, the stock’s grey market premium (GMP) was ₹10.
In various retail sectors, including fashion, lifestyle, electronics, food, cosmetics, and telecommunications, Rexpro Enterprises supplies furniture and fixtures to merchants and customers. Vasai, Maharashtra, is the company’s headquarters.
In addition to the expanding household market, the firm has expanded into commercial and institutional furnishings for workplaces, hospitals, and government buildings.
Its clients include Shoppers Stop, One RX India Private Limited (Samsung), Hindustan Unilever, Lenskart, Marks & Spencer Reliance India Private Limited, and Godrej & Boyce Mfg. Co. Limited.
The company’s Red Herring Prospectus (RHP) states that over the last two years, its revenue has increased at a (CAGR) of 53%, operational EBITDA has increased at a CAGR of 149%, and PAT has increased at a CAGR of 197%.
Rexpro Enterprises IPO Details:
On Wednesday, January 22, the ₹53.65 crore SME IPO, which included an (OFS) and a fresh issuance, went live on the Indian primary market at a price of ₹145 per share. After approximately eighteen subscriptions total, the issue ended on Friday, January 24. There were 27 subscriptions to the retail section.
The company will use the money acquired through the IPO to finance working capital requirements, purchase machinery and remodel a factory, seek inorganic expansion, and pay for general business expenditures.
About Rexpro Enterprises Company:
Rexpro Enterprise Limited, one of the top manufacturing firms involved in producing furniture and fixture needs, was established in March 2012. The company’s retail clients include fashion, lifestyle, electronics, food, cosmetics, and telecommunications. They have evolved into their clients’ one-stop shop for all their furniture and fixture needs. Their multi-material production skills earned them a fantastic reputation, and they grew their business by producing furniture for homes, workplaces, hospitals, and government buildings. Rexpro Enterprise is also well-known for producing sound barriers that reduce noise pollution and for making high-precision double doors for Metro platforms in-house to prevent mishaps and increase public safety.
