Rexpro Enterprises IPO kicked off its subscription phase on Wednesday, January 22, and witnessed strong demand on its opening day. The IPO, at an issue price of ₹145 per share, is open to a maximum of 1,000 shares with a base minimum subscription amount of ₹1,45,000 for retail investors.
The public issue will remain open until January 24. Rexpro Enterprises intends to use the financing so applied, to acquisition of equipment, factory improvement, working capital, inorganic expansion, and general corporate purposes, by the financing.
Rexpro Enterprises IPO and GMP Signals Strong Listing Premium
The grey market premium (GMP) for Rexpro Enterprises IPO stood at ₹48 on the opening day, suggesting a potential listing price of ₹193 per share. This is a 33% premium to the issue price indicating strong market sentiment and high demand for the share price of the company issuing the shares prior to the listing on the NSE SME platform.
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Financial Highlights and Company Overview
Based on the Rexpro Enterprises red herring prospectus (RHP), the company has reached substantial financial size, with revenue growth of 53% CAGR, operating EBITDA growth of 149% CAGR, and PAT growth of 197% CAGR over the past two years.
Headquartered in Vasai, Maharashtra, Rexpro Enterprises caters to a wide range of customers from the fashion, electronics, lifestyle other sectors. Its clientele [has] major names such as Shoppers Stop, Hindustan Unilever, Marks Spencer, Lenskart, and so on. The company has stepped into the sectors of the institutional and residential furniture industries, which are providing new areas of development.
Horizon Management Private Limited is a book-running lead manager and due to the registrar Cameo Corporate Services Limited, the economists can boast of economies.
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