Rockingdeals Circular Economy Files DRHP With NSE Emerge The company's object of the issue includes working capital requirement, brand positioning, marketing and advertising, and general corporate purpose
By Teena Jose •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Rockingdeals Circular Economy Limited (RDCEL), an Indian B2B re-commerce player, today announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The company plans to offer up to 15,00,000 equity shares with a face value INR 10/- each through the book-building process. RDCEL has appointed Corporate Capital Ventures Pvt. Ltd. as Book Running Lead Manager to the Issue and Bigshare Services Pvt. Ltd. as the Registrar to the Issue.
"We started this venture to empower accelerating consumer aspirations of a price-conscious Bharat. During our journey, we have fortified the foundation in talent recruitment, vendor partnerships and presence across offline and online platforms. Now we are setting out to become a much larger player in an emerging yet high-growth industry and raising funds for the impending expansion and improving visibility for the company," said Aman Preet, promoter and managing director, RDCEL.
As per an official release, Rockingdeals Circular Economy recently concluded its pre-IPO round comprising a preferential issue of 4,80,130 Equity Shares at an Issue Price of INR 100/- per equity share. The company's object of the issue includes working capital requirement, brand positioning, marketing and advertising, and general corporate purpose.
Additionally, it aims to capitalize on the next 10% of aspiring Bharat consumers by offering sourcing solutions across unboxed, excess inventory, and refurbished products.
Founded by Aman Preet, RDCEL is a B2B sourcing company in India, specializing in unboxed, excess inventory and refurbished products across 18 SKUs. It is a part of the Faridabad- headquartered Rockingdeals Group, which commands presence across the B2B sourcing to B2C retailing.
