The Rexpro Enterprises IPO is scheduled to open for subscription on January 22, 2025, and will close on January 24, 2025. This Fixed Price Issue aims to raise approximately ₹53.65 crores, which includes a fresh issue of ₹47.13 crores and an offer for sale of 4.50 lakh equity shares, each with a face value of ₹10.
The IPO is priced at ₹145 per share, with the retail investor quota set at 50%, no allocation for Qualified Institutional Buyers (QIB), and 50% reserved for High Net-worth Individuals (HNI).
The IPO allotment is expected to be finalized on January 27, 2025, and the shares will be listed on the NSE SME platform on January 29, 2025. Investors can apply in minimum lots of 1,000 shares, requiring a retail investment of ₹1,45,000. For HNIs, the minimum investment starts at 2 lots (2,000 shares), amounting to ₹2,90,000.
Financially, the company has demonstrated significant growth, reporting revenue of ₹83.01 crores in 2024, a notable increase from ₹62.89 crores in 2023. Similarly, the profit surged to ₹4.53 crores in 2024, compared to ₹0.64 crores in 2023, showcasing robust performance and potential for long-term growth. Given its promising financial trajectory and affordable valuation, the Rexpro Enterprises IPO presents an attractive investment opportunity for retail and HNI investors alike.
Overview of Contents
Rexpro Enterprises IPO Overview
| Particulars | Details |
|---|---|
| IPO Opening Date | January 22, 2025 |
| IPO Closing Date | January 24, 2025 |
| Listing Date | January 29, 2025 |
| Face Value per Share | ₹10 |
| IPO Price | ₹145 per share |
| Minimum Lot Size | 1,000 shares |
| Total Issue Size | 37,00,000 shares (₹53.65 Cr) |
| Fresh Issue | 32,50,000 shares (₹47.13 Cr) |
| Offer for Sale (OFS) | 4,50,000 shares (₹6.53 Cr) |
| Issue Type | Fixed Price Issue |
| Listing Platform | NSE SME |
| Pre-Issue Shareholding | 79,56,460 shares |
| Post-Issue Shareholding | 1,12,06,460 shares |
| Market Maker Allocation | 1,86,000 shares |
| Retail Investor Quota | Up to 50% |
| High Net-worth Individual (HNI) Quota | Up to 50% |
| DRHP | Click here |
| RHP | Click here |
Rexpro Enterprises IPO Lot Size
Retail investors can apply for a minimum of 1 lot comprising 1,000 shares, requiring an investment of ₹1,45,000. High Net-worth Individuals (HNI) need to bid for at least 2 lots (2,000 shares), with a minimum investment of ₹2,90,000. Investors must apply in multiples of 1,000 shares.
| Investor Category | Lots | Shares | Investment Amount (₹) |
|---|---|---|---|
| Retail - Minimum | 1 | 1,000 | ₹1,45,000 |
| Retail - Maximum | 1 | 1,000 | ₹1,45,000 |
| HNI - Minimum | 2 | 2,000 | ₹2,90,000 |
Rexpro Enterprises IPO Dates
| Event | Date |
|---|---|
| IPO Opening Date | Wednesday, January 22, 2025 |
| IPO Closing Date | Friday, January 24, 2025 |
| Allotment Finalization Date | Monday, January 27, 2025 |
| Refund Initiation Date | Tuesday, January 28, 2025 |
| Demat Credit Date | Tuesday, January 28, 2025 |
| Listing Date | Wednesday, January 29, 2025 |
| UPI Mandate Cut-off Time | 5 PM on January 24, 2025 |
Rexpro Enterprises IPO Promoter Holding
The promoters of Rexpro Enterprises are Minesh Anilbhai Chovatia, Premal Niranjan Shah, Ragesh Deepak Bhatia, and Ravishankar Sriramamurthi Malla. Below is the shareholding structure of the company before and after the IPO.
| Category | Shareholding |
|---|---|
| Promoters' Pre-Issue Holding | 100% |
| Promoters' Post-Issue Holding | 66.99% |
Rexpro Enterprises IPO Reservation
| Investor Category | Percentage of Net Issue |
|---|---|
| Retail Investors | 50% |
| High Net-worth Individuals (HNI) | 50% |
About Company
Rexpro Enterprises Limited, incorporated in March 2012, is a prominent furniture manufacturing company based in Vashi, Maharashtra. The company specializes in producing a wide range of furniture and fixtures, catering to diverse retail segments, including fashion, lifestyle, electronics, grocery, beauty, and telecom. Over the years, Rexpro Enterprises has established a strong client base, including renowned brands such as Shoppers Stop, Samsung (One RX India Private Limited), Hindustan Unilever, Lenskart, Marks & Spencer Reliance India Private Limited, and Godrej & Boyce Mfg. Co. Limited.
With three state-of-the-art manufacturing units in Vashi, the company offers customized solutions for offices, hospitals, government establishments, and the growing home furniture segment. Additionally, it has expanded its portfolio by manufacturing sound barriers to mitigate noise pollution, which are already installed on Mumbai flyovers. Rexpro also produces high-precision double doors for metro platforms, ensuring enhanced safety and accident prevention.
The company’s competitive strengths include its diverse product range, strong quality control, ethical business practices, versatile manufacturing facilities, and long-term relationships with key customers. Leveraging its multi-material manufacturing capabilities, Rexpro has designed and built standalone stores, shop-in-shops, kiosks, and displays for global brands and leading Indian retailers.
As of September 2024, Rexpro Enterprises has a total workforce of 65 permanent employees and 126 contract workers, in addition to nine employees on the payroll of its subsidiary. This experienced and efficient team is backed by a seasoned management team that has propelled the company’s growth and operational excellence. Rexpro’s commitment to innovation and customer satisfaction has positioned it as a reliable and growing player in the manufacturing sector.
Rexpro Enterprises IPO Financial Overview
| Financial Metrics | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | ₹50.54 Crore | ₹39.95 Crore | ₹27.87 Crore |
| Total Revenue | ₹49.56 Crore | ₹83.01 Crore | ₹62.89 Crore |
| Profit After Tax (PAT) | ₹4.08 Crore | ₹5.18 Crore | ₹0.63 Crore |
| Net Worth | ₹13.08 Crore | ₹9.22 Crore | ₹4.69 Crore |
| Reserves & Surplus | ₹5.12 Crore | ₹8.96 Crore | ₹4.43 Crore |
Rexpro Enterprises IPO Valuation – FY2024
| KPI | Values |
|---|---|
| ROE: | 56.24% |
| ROCE: | 62.21% |
| EBITDA Margin: | 9.71% |
| PAT Margin: | 6.25% |
| Debt to equity ratio: | 0.65 |
| Earning Per Share (EPS): | ₹5.69 (Basic) |
| Price/Earning P/E Ratio: | 25.48 |
| Return on Net Worth (RoNW): | 56.24% |
| Net Asset Value (NAV): | ₹11.58 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Naman InStore (India) Limited | 11.99 | 11.09 | 24.23% | – | 144.74 Cr. |
| Parin Enterprises Limited | 2.77 | 137.18 | 3.92% | – | 81.93 Cr. |
Objects of the Issue
- Purchase of Equipment and Renovation of Factory
- Funding of working capital requirements of the Company.
- Pursuing Inorganic Growth
- General Corporate Expenses
Rexpro Enterprises IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
IPO Lead Managers aka Merchant Bankers
- Horizon Management Private Limited
Company Address
Rexpro Enterprises Limited
Building No 2, WING A & B
Survey No -36, Hissa No 13, Waliv Village
Dhumal Nagar, Valiv, Thane, Vasai-401208,
Phone: +91 84848 32162
Email: cs@rexpro.co
Website: https://www.rexpro.co/
Rexpro Enterprises IPO FAQs
When does the Rexpro Enterprises IPO open and close?
The IPO opens on January 22, 2025, and closes on January 24, 2025.
What is the price band for the Rexpro Enterprises IPO?
The IPO price band is ₹145 per share.
How much is the total issue size of the Rexpro Enterprises IPO?
The total issue size is approximately ₹53.65 crores.
What is the minimum lot size for the IPO?
The minimum lot size is 1,000 shares.
What is the IPO listing date?
The IPO will list on the NSE SME on January 29, 2025.
What is the allotment date for the IPO?
The allotment date is January 27, 2025.
How much should retail investors invest in the IPO?
Retail investors can invest a minimum of ₹1,45,000 for 1,000 shares.
Is the IPO a fixed-price issue?
Yes, the Rexpro Enterprises IPO is a fixed-price issue.
What is the retail and HNI quota in the IPO?
The retail quota is 50%, and the HNI quota is 50%.