Rex Sealing & Packing Industries was incorporated on August 10, 2005. The company is a manufacturer and exporter of sealing packing and insulation products like jointing sheets, fabric expansion joints, gland packing and ropes, high-temperature resistant textiles and ceramic fiber products.
| Bidding Dates |
|---|
| 30 Dec 2022 - 04 Jan 2023 |
| Subscription |
|---|
| 2.65x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,35,000 | 1 | 1 | 1000 | 599.0 K | ₹135 | 73.02 % | ₹80.9 M | RHP DOC |
Rex Sealing IPO SUBSCRIPTION STATUS
04 Jan '23Rex Sealing IPO overall subscription rate was 2.65 times the total available shares
Rex Sealing IPO retail subscription rate was 3.3 times in the retail segment
Rex Sealing IPO non-institutional investor subscription rate was 2 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
04 Jan 2023 (Day 4) | 3.3x | 2x | - |
03 Jan 2023 (Day 3) | 2.18x | 1.62x | - |
02 Jan 2023 (Day 2) | 1.57x | 1.61x | - |
30 Dec 2022 (Day 1) | 0.46x | 0.79x | - |
Rex Sealing FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| Q1FY23 | 3.8 | 57.1 | 8.3 | 8.2 |
| FY22 | 5.5 | 210.8 | 1.5 | -1.7 |
| FY21 | 3.7 | 171.4 | 16.1 | 14.3 |
| FY20 | 11.3 | 200.6 | 26.2 | 24.5 |
Rex Sealing IPO SUBSCRIPTION STATUS DETAILS
Rex Sealing had 599.0 K shares on offer
Rex Sealing IPO offer price was ₹135
Rex Sealing IPO minimum Investment was ₹135000
Rex Sealing IPO issue size was ₹ 80.9 M
Rex Sealing had a minimum lot size of 1000 Shares per application
Rex Sealing NUMBER OF SHARES ON OFFER
Rex Sealing IPO IMPORTANT DATES
| Issue Open Date | 30 Dec 2022 |
| Issue close Date | 04 Jan 2023 |
| Allotment Date | 09 Jan 2023 |
| Refund Date | 10 Jan 2023 |
| Demat Account Credit Date | 11 Jan 2023 |
| Listing Date | 12 Jan 2023 |
| Listing on Exchange(s) | BSE |
| Rex Sealing Allotment Status | Exchange |
Rex Sealing IPO subscription opened on 30 Dec 2022, and closed on 04 Jan 2023
IPO allotment for Rex Sealing was finalized on Monday, 09 Jan 2023
IPO listing for Rex Sealing was on BSE on Thursday, 12 Jan 2023
Rex Sealing IPO LISTING GAINS
| Issue Price (adjusted) | 135.0 |
| Listing Open Price | 137.0 |
| Listing Close Price | 143.8 |
| Listing Gain% | 1.5% |
| Current Gain% | -11.1% |
Rex Sealing Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rex Sealing & Packing Industries Ltd. | 120 | 26.6 | 17.2 | -0.9 | 0.7 | 7.3 | 4.9 | 38.3 | 9.2 | 1.8 | -6.6 | 7 | -19.8 |
| Garware Hi-Tech Films Ltd. | 6973 | 16200 | 41.8 | 2.2 | 7.2 | 12.7 | 11.2 | 2185 | 1 | 338.2 | 2.1 | 166.9 | 19 |
| EPL Ltd. | 224.7 | 7198.1 | 18.5 | 2.2 | 1.5 | 13.6 | 7.9 | 4806.5 | 12.9 | 388.9 | 8.3 | 12.1 | 8.3 |
| AGI Greenpac Ltd. | 709.8 | 4592.2 | 12.7 | 3.1 | 1.7 | 14.6 | 9.9 | 2760.4 | 6 | 351.7 | 9.1 | 56 | 4.1 |
| Uflex Ltd. | 488.7 | 3529 | 11.1 | 0.1 | 0.2 | 3.9 | 1.4 | 15513 | 2.1 | 317.1 | 122.8 | 43.9 | 122.7 |
| Polyplex Corporation Ltd. | 1115.9 | 3503.1 | 77.9 | -1 | 0.5 | 1.1 | 0.5 | 7173.4 | 2.8 | 45 | -78.5 | 14.3 | -78.5 |
Rex Sealing INFORMATION ON IPO ISSUE
About Rex Sealing
Rex Sealing & Packing Industries was incorporated on August 10, 2005. The company is a manufacturer and exporter of sealing packing and insulation products like jointing sheets, fabric expansion joints, gland packing and ropes, high-temperature resistant textiles and ceramic fiber products.
Object of the Issue
- Funding working capital requirement
- General corporate purpose
Rex Sealing - PROMOTERS
| Name |
|---|
| Naresh Nayak |
| Niranjan Nayak |
| Manjunath Nayak |
Rex Sealing Lead Manager To The Issue
Aryaman Financial Services
ipo@afsl.co.in
Rex Sealing Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Rex Sealing Strengths
Focus on multiple end-user industries
The company, over the past few years, introduced new product categories with diverse end-use applications. This has helped it diversify into more end-user industries such as petrochemical, power, cement, steel and pharmaceutical industries
Quality products
The company has been accredited with ISO 45001: 2018 (occupational health and safety management systems), ISO 9001: 2015 (quality management system), and ISO 14001: 2015 (environmental management system)
Long-term relationships
The company has a good reputation and despite an increase in competition, it has received repeat orders from several prominent clients
In-house R&D for innovation and cost improvements
It is a quality and research-driven company with continuous efforts focused on quality checks and production cost efficiencies
Rex Sealing Risks
Indebtedness
In addition to the existing indebtedness for existing operations, the company may incur further debts
Legal proceedings
The company is a party to certain legal proceedings and any adverse decision may have an effect on the business, results of operations and financial condition.
Dependent on few clients
A substantial portion of its revenues is dependent on a few clients. The loss of any one or more of the major clients would have a material effect on the business operations and profitability
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.0 crore, of 299,000 shares. It also consists of a fresh issue of Rs 4.0 crore.
The promoters of the company are Naresh Nayak, Niranjan Nayak and Manjunath Nayak.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 135.0 - 135.0.
The IPO application opens on Dec 30, 2022 and closes on Jan 04, 2023.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 135,000.0, the maximum value for this IPO is Rs 135,000.0.
This IPO will be allotted on Jan 09, 2023.
The refund will be credited to your account on Jan 10, 2023.
The allotted shares will be credited to your demat on Jan 11, 2023.
Rex Sealing & Packing Industries Ltd.’s shares listed on the stock exchanges on Jan 12, 2023.