Rulka Electricals makes stellar debut, share list at 123% premium to issue price

Rulka Electricals Ltd made an impressive debut on the stock exchanges as the shares of the company listed on the NSE SME platform at more than double to the issue price.

Soon after listing, the stock surged as much as 5% to hit an intraday high of ₹551.25 apiece, which was over 134% higher to the issue price. However, shares of Rulka Electricals retreated from the peak due to some profit booking to trade 5% lower at ₹498.75 apiece.

Rulka Electricals shares dropped 5% from the listing price to trade at ₹498.75 at 10:22 am. The company’s market total capitalisation stood at ₹212.39 crore.

Given that the minimum lot size for the retail investors in the Rulka Electricals initial public offering was 600 shares, successful bidders would have made a profit of at least ₹1,74,000 (₹290 x 600) after the listing of the shares.

Rulka Electricals IPO was open for subscription from May 16 to May 21. The ₹43.16-crore IPO comprised a fresh issue of 8.42 lakh shares. The company fixed the price band for the IPO ₹223 to ₹235 per share. The minimum lot size was 600 shares which amounts to a minimum investment of ₹1,41,000 for retail investors.

The IPO was booked 677 times at the close of bidding on May 21, driven by strong demand from non-institutional investors.

Rulka Electricals IPO was booked 677 times on the final day of bidding. The IPO received bids for 50.6 crore shares compared to the 7.47 lakh shares available for public subscription.

The issue was booked 1,350 times in the NII category (Non-Institutional Investors) while the retail investors booked their reserved portion 658 times. Qualified institutional investors (QIIs) subscribed the IPO 204 times in their category.

About Rulka Electricals

Rulka Electricals Ltd, incorporated in 2013, provides a diverse range of electrical solutions across various segments. The company offers services to clients in diverse segments like warehouses, retail stores, theatres, hospitals and hospitality venues.

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