Rulka Electricals was incorporated on May 30, 2013. The company is in the business of turnkey project contracting, engaged in offering solutions for all types of electrical and firefighting turnkey projects. It offers a wide range of services such as electrical solutions, electrical panels, solar EPC contracts, turnkey electrical warehousing projects, electrical commercial and industrial services, maintenance services, electrical contracting, and data and voice cabling installation across the industrial, commercial, retail, and theatre sectors. It provides electrical contracting services for all types of industrial plants.
| Bidding Dates |
|---|
| 16 May 2024 - 21 May 2024 |
| Subscription |
|---|
| 629.42x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,33,800 | 1 | 1 | 600 | 1.1 M | ₹223 - ₹235 | 62.62 % | ₹250.5 M - ₹264.0 M | RHP DOC |
Rulka Electricals IPO SUBSCRIPTION STATUS
21 May '24Rulka Electricals IPO overall subscription rate was 629.42 times the total available shares
Rulka Electricals IPO retail subscription rate was 874.48 times in the retail segment
Rulka Electricals IPO non-institutional investor subscription rate was 1793.96 times in the non-institutional investor category
Rulka Electricals IPO Qualified Institutional Bidder subscription rate was 108.51 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
21 May 2024 (Day 3) | 874.48x | 1793.96x | 108.51x |
17 May 2024 (Day 2) | 68.21x | 36.86x | 2.46x |
16 May 2024 (Day 1) | 13.75x | 6.87x | 0.54x |
Rulka Electricals 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) | Margins |
| 11MFY24 | 56.6 | 651.9 | -33.6 | -34.3 | 12.5% |
| FY23 | 28.1 | 468.4 | -19.5 | -21.2 | 8.6% |
| FY22 | 11.2 | 362.7 | 7.0 | -1.8 | 6.1% |
| FY21 | 5.4 | 195.9 | 1.7 | 1.4 | 5.4% |
Rulka Electricals IPO SUBSCRIPTION STATUS DETAILS
Rulka Electricals had 1.1 M shares on offer
Rulka Electricals IPO offer price was in the range ₹223 - ₹235
Rulka Electricals IPO minimum Investment was ₹133800
Rulka Electricals IPO issue size was ₹ 250.5 M - ₹ 264.0 M
Rulka Electricals had a minimum lot size of 600 Shares per application
Rulka Electricals NUMBER OF SHARES ON OFFER
Rulka Electricals IPO IMPORTANT DATES
| Issue Open Date | 16 May 2024 |
| Issue close Date | 21 May 2024 |
| Allotment Date | 22 May 2024 |
| Refund Date | 23 May 2024 |
| Demat Account Credit Date | 23 May 2024 |
| Listing Date | 24 May 2024 |
| Listing on Exchange(s) | NSE |
| Rulka Electricals Allotment Status | Exchange |
Rulka Electricals IPO subscription opened on 16 May 2024, and closed on 21 May 2024
IPO allotment for Rulka Electricals was finalized on Wednesday, 22 May 2024
IPO listing for Rulka Electricals was on NSE on Friday, 24 May 2024
Rulka Electricals IPO LISTING GAINS
| Issue Price (adjusted) | 235.0 |
| Listing Open Price | 525.0 |
| Listing Close Price | 498.8 |
| Listing Gain% | 123.4% |
| Current Gain% | -53.2% |
Rulka Electricals 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rulka Electricals Ltd. | 110 | 46.8 | 16.4 | 0.6 | 0.4 | 8.8 | 4.5 | 110.3 | 38.6 | 3.3 | 45.8 | 6.7 | 26.5 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Rulka Electricals INFORMATION ON IPO ISSUE
About Rulka Electricals
Rulka Electricals was incorporated on May 30, 2013. The company is in the business of turnkey project contracting, engaged in offering solutions for all types of electrical and firefighting turnkey projects. It offers a wide range of services such as electrical solutions, electrical panels, solar EPC contracts, turnkey electrical warehousing projects, electrical commercial and industrial services, maintenance services, electrical contracting, and data and voice cabling installation across the industrial, commercial, retail, and theatre sectors. It provides electrical contracting services for all types of industrial plants.
Object of the Issue
- To meet working capital requirement
- General corporate purpose
- To meet the offer expenses
Rulka Electricals - PROMOTERS
| Name |
|---|
| Rupesh Laxman Kasavkar |
| Nitin Indrakumar Aher |
Rulka Electricals Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Rulka Electricals Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Rulka Electricals Strengths
Quality assurance and standards
The company provides its customers with the best possible quality services and is an ISO-certified organization. Quality standards followed from the beginning are very stringent and adhered to during the services and assembly process
Diversified client base
The company serves a diverse mix of end markets across several industry sectors, including warehouse, retail, industrial, and hotel/hospital clients
Scalable business model
The company's business model comprises the optimum utilization of its existing resources, developing linkages with the expertise of the development team, and achieving consequent client satisfaction
Rulka Electricals Risks
Legal proceedings
There are outstanding legal proceedings involving the company, its directors, and promoters. Any adverse decision in such proceedings may have a material adverse effect on the business, results of operations, and financial condition
Negative cash flows
The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect the business, results of operations, and prospects
Dependent on few customers
The company's top ten customers contribute the majority of the revenues from operations. Any loss of business from one or more of them may adversely affect the company's revenues and profitability
IPO FAQs
This IPO consists of an offer for sale of up to Rs 6.6 crore, of 280,800 shares. It also consists of a fresh issue of Rs 19.8 crore.
The promoters of the company are Rupesh Laxman Kasavkar and Nitin Indrakumar Aher.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 223.0 - 235.0.
The IPO application opens on May 16, 2024 and closes on May 21, 2024.
The minimum lot size for the IPO is 600. The maximum lot size for the IPO is 600.
For all category investors, the minimum application amount for this IPO is Rs. 133,800.0, the maximum value for this IPO is Rs 141,000.0.
This IPO will be allotted on May 22, 2024.
The refund will be credited to your account on May 23, 2024.
The allotted shares will be credited to your demat on May 23, 2024.
Rulka Electricals Ltd.’s shares listed on the stock exchanges on May 24, 2024.