Racks & Rollers IPO: Issue fully subscribed on Day 1 on strong retail interest. Check GMP, other key details

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₹73 to ₹78 per equity share of face value of ₹10 each. There are 1,600 shares in each IPO lot. 1,600 equity shares is the minimum application size; beyond that, applications will be accepted in multiples of 1,600 equity shares.

According the Red Herring Prospectus (RHP), the company focuses in the design, production, and installation of metal storage racks in addition to automated warehouses and other storage systems. The company offers a range of products and services that demonstrate their commitment to providing innovative, practical solutions for a variety of warehousing needs. These industries include oil and gas, automotive components and aerospace, food and beverage, pharmaceutical, textile, retail, fast-moving consumer goods (FMCG), and others.

These industries have unique storage and logistical needs that must be met. Also Read: Racks & Rollers IPO opens on April 30: Check GMP, price band, issue size, key dates, other details In the SME IPO, 50% of the net issue has been set aside for QIBs, 35% for retail investors, 15% for non-institutional bidders, and 5% for market makers. Khasim Sait, Afzal Hussain, Mohammad Arif Abdul Gaffar Dor, Hanif A.

Khatri, Syed Azeem, and Nuumaan Khasim are among the company's promoters. With a P/E of 33.17, RHP claims that Alphalogic Industries Ltd. is the sole public peer for the firm.

Racks & Rollers IPO subscription status Racks & Rollers IPO subscription status is 2.05 times, on day 1, so far. The retail portion has been subscribed 3.47 times, and NII portion has been booked 1.44 times. The qualified institutions buyers (QIBs) were booked 1%.