Rulka Electricals IPO subscription: Issue booked over 21 times, check key dates

The initial public offering (IPO) of Rulka Electricals, which opened for subscription on Thursday, May 16, has been booked over 21 times on the second day of bidding.

The book-built issue, which is a fresh issue of shares worth ₹19.8 crore and an offer-for-sale (OFS) component of 2.81 lakh shares, will close on Tuesday, May 21. The price band has been set at ₹223-₹235 per share.

Rulka Electricals IPO: Subscription status

The issue has been oversubscribed 21.1 times, led by retail investors. Of the 8,04,000 shares on offer, 1,69,86,600 bids have been received. Here's the data break down;

• Qualified Institutional Buyers (QIBs): 2,37,600 (Number of shares bid for)
• Non-Institutional Investors (NIIs): 25,48,200
• Retail Individual Investors(RIIs): 1,42,39,800

Rulka Electricals IPO: Key dates

• Bidding date: May 16 to May 21
• Allotment finalisation: May 22
• Refund initiation: May 23
• Transfer of shares to demat account: May 23
• Listing on NSE Emerge: May 24

About Rulka Electricals

Rulka Electricals, incorporated in 2013, is an electrical and fire-fighting solutions company that provides services such as electrical solutions, solar EPC contracts, electrical panels, turn-key electrical warehousing projects, maintenance services, electric commercial and industrial services, and data and voice cabling installation.

It caters for sectors like industrial, commercial, residential complex, theatre and retail.

In the financial year 2022-23, the company posted revenue of ₹468 crores, up 29.2% from ₹362 crores in the previous fiscal. Its net profit stood at ₹28 crore in FY23 as compared to ₹11 crore in FY22, reflecting a 154% increase.

Beeline Capital Advisors Private Limited is the book-running lead manager for the issue, while Bigshare Services Private Limited is the IPO registrar.

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