Rockingdeals Circular Economy
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 22 Nov 2023 – 24 Nov 2023
- Listing date
- 30 Nov 2023
- Face value
- ₹10 per share
- Issue price
- ₹140 per share
- Lot size
- 1,000 shares
- Total issue size
- ₹21 Cr
- Market cap at offer price
- ₹79.23 Cr
- Promoter holding
- 88.45% → 65.00% pre-issue → post-issue
- ISIN
- INE0PTR01012
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Corporate Capitalventures Pvt.Ltd.
- Registered office
- Shop Kh No 424 Basement, Ghitorni, Gadaipur, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 4,20,000 | — | — |
| Market maker | 85,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹140
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,40,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,80,000 |
| S-HNI (max) | 7 | 7,000 | ₹9,80,000 |
| B-HNI (min) | 8 | 8,000 | ₹11,20,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.20 | — |
| P/E (×) | 33.33 | — |
| Market cap | — | ₹79.23 Cr |
Key performance indicators
- Return on net worth
- 22.26%
- ROCE
- 22.73%
- PAT margin
- 10.28%
- NAV per share
- ₹565.37
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Rockingdeals Circular Economy
Rockingdeals Circular Economy Limited (formerly Technix Electronics Private Limited), incorporated in 2002, is primarily a B2B re-commerce player engaged in bulk trading of excess inventory, open boxed inventory, and refurbished products. The company procures diverse product categories—ranging from small home appliances and electrical items to apparel, footwear, speakers, and mobile accessories—from e-commerce platforms (Snapdeal, Flipkart, Amazon affiliates), brand dealers, and manufacturers. It supplies these products in bulk to B2B clients including Jindal Mega Mart, Brand Wala, VLE Bazaar, and sister companies under the Rockingdeals group. The company operates from a warehouse in Faridabad, Haryana, maintains over 18 SKU categories, and combines offline distribution through dealers with online sales via Shopclues. By 2023, the company contributes to India's circular economy by extending product life through refurbishment and resale, positioning itself in the growing ₹29.54 billion (USD) re-commerce market projected to grow at 6.15% CAGR through 2027.
Company Analysis
from RHPRockingdeals Circular Economy Limited is a B2B bulk trader of excess inventory, open boxed products, and refurbished goods across electronics, appliances, apparel, and accessories.
Rockingdeals Circular Economy Limited (formerly Technix Electronics Private Limited), incorporated in 2002, is primarily a B2B re-commerce player engaged in bulk trading of excess inventory, open boxed inventory, and refurbished products. The company procures diverse product categories—ranging from small home appliances and electrical items to apparel, footwear, speakers, and mobile accessories—from e-commerce platforms (Snapdeal, Flipkart, Amazon affiliates), brand dealers, and manufacturers. It supplies these products in bulk to B2B clients including Jindal Mega Mart, Brand Wala, VLE Bazaar, and sister companies under the Rockingdeals group. The company operates from a warehouse in Faridabad, Haryana, maintains over 18 SKU categories, and combines offline distribution through dealers with online sales via Shopclues. By 2023, the company contributes to India's circular economy by extending product life through refurbishment and resale, positioning itself in the growing ₹29.54 billion (USD) re-commerce market projected to grow at 6.15% CAGR through 2027.
Objects of the Issue
- Working Capital Requirement ₹14,00,000 lakhs p.17
- Brand Positioning, Marketing & Advertisement ₹1,42,000 lakhs p.17
- General Corporate Purposes p.17
Issue Structure
- Total Issue
- ₹15,00,000 Equity Shares aggregating to ₹[●] Lakhs
- Fresh Issue
- 15,00,000 Equity Shares aggregating to ₹[●] Lakhs
- Offer for Sale
- Nil
- Price Band
- ₹136 to ₹140 per Equity Share
- Lot Size
- Minimum 1,000 Equity Shares and multiples of 1,000 thereafter
- Face Value
- ₹10 per Equity Share
Business Model
The company operates a B2B re-commerce model: it procures surplus, returned, or refurbished products from e-commerce platforms and manufacturers at discount; performs quality checks and minor repairs through an in-house technical team; grades products into five categories (A through E); warehouses inventory; and supplies in bulk to B2B clients and franchisees. Revenue is generated primarily through bulk sales (97.43% B2B, 2.57% B2C in FY 2023). The company earns margin on the price differential between procurement cost and selling price. It holds 50.01% capital in SSL E-Waste Management LLP, indicating planned expansion into e-waste processing.
Business Segments
SWOT Analysis
- • Experienced management with deep industry expertise and established vendor/customer relationships(p.100)
- • Diversified product portfolio across 18 SKU categories providing competitive advantage(p.89)
- • Widespread B2B vendor network enabling market penetration across multiple geographies(p.100)
- • In-house quality control and classification centre with dedicated technician team(p.97)
- • Strong customer loyalty with repeat business from established clients(p.100)
- • Established call centre for customer relationship management and engagement(p.98)
- • High dependence on top 5 customers for 81.56% of FY2023 revenue, creating significant customer concentration risk(p.21)
- • Strong geographic revenue concentration with Haryana contributing 48.73% of FY2023 revenues(p.22)
- • Heavy reliance on limited supplier base with top 5 suppliers accounting for 57.25% of purchases(p.22)
- • Absence of long-term agreements with suppliers creating vulnerability to supply chain disruptions(p.22)
- • Corporate guarantees of ₹5,65,917.47 provided to promoter group company credit facilities(p.21)
- • Registered office lease expires December 2023; marketing store lease expires November 2023(p.24)
- • Fire NOC not obtained for registered office, corporate office and warehouses(p.23)
- • Educational qualification certificates missing for promoter Mrs. Kulbir Chopra(p.27)
- • India's re-commerce market projected to reach USD 29.54 billion by 2027 at 6.15% CAGR(p.16)
- • Refurbished electronics market globally expected to reach USD 94.10 billion by 2030 at 10% CAGR(p.85)
- • Indian appliances and consumer electronics market projected to nearly double to USD 21.18 billion by 2025(p.16)
- • Growing consumer demand in Tier II and Tier III cities for affordable branded products(p.98)
- • Opportunity to expand geographic presence to reduce Haryana concentration(p.102)
- • Strategic partnership with SSL E-Waste Management LLP to enter e-waste recycling business(p.91)
- • Circular economy aligned with government sustainability policies and ESG initiatives(p.98)
- • Risk of forward integration by suppliers directly selling products to end customers(p.22)
- • Competition from both organized and unorganized players affecting pricing and margins(p.27)
- • Seasonality with 70% of revenue concentrated in Q3 and Q4, impacting revenue stability(p.24)
- • High risk of counterfeit or fake products from vendors leading to liability and reputational damage(p.23)
- • Natural calamities and supply chain disruptions could negatively impact Indian economy and operations(p.32)
- • Changes in government regulations and GST policies could increase compliance costs(p.32)
- • Rising inflation and wage pressures could impact profitability(p.32)
- • Risk of COVID-19 or other pandemics disrupting supply chains and demand(p.28)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Aman Preet | Promoter | 49.42% | 36.32% |
| Mrs. Kulbir Chopra | Promoter | 39.03% | 28.68% |
| Mrs. Avneet Chopra | Promoter | Negligible | Negligible |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.