Rex Sealing and Packing Industries Limited IPO Detail
Incorporated in 2005, Rex Sealing and Packing Industries Limited is a manufacturer and exporter of Sealing packing and Insulation products including Jointing Sheets, Fabric Expansion Joints, Gland packing & Ropes, High-Temperature resistant textiles, Ceramic Fiber Products, etc.
The business was first started by Mr Manjunath Nayak under the name M/s Rex Industries for manufacturing Gland Packing.
The vast product portfolio of Rex Sealing and Packing Industries includes:
- Compressed Fibre Jointing Sheets / Gaskets
- Gland Packing & Ropes
- Fabric Expansion Joints
- Technical and Heat Resistance Textiles
- Ceramic Fiber Product
The company executes in-house manufacturing through its unit situated in MIDC- Taloja Industrial Area, Palekhurd Panvel, Raigad.
The company is also planning to set up an additional manufacturing unit in Anand Nagar, MIDC Ambernath, admeasuring 4000. Sq meter for expansion of business and manufacture. Rex Sealing and Packing Industries will manufacture all types of "Asbestos Free" Gaskets sheets for Automotive, Steel, and other process units through this extension.
They are a customer-centric company, and the products of the company are used by some well-known industrial houses in the Petrochemical, Pharmaceutical, Power, Steel, Cement, Chemical, Gas, and Process industry.
Company Promoters
Naresh Nayak, Niranjan Nayak and Manjunath Nayak are the promoters of the company.IPO Details
| IPO Opening Date | Dec 30, 2022 |
| IPO Closing Date | Jan 04, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹135 per equity share |
| Market Lot | 1000 Shares |
| Min Order Quantity | 1000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹8.09 Cr |
| Fresh Issue | 300,000 shares of ₹10 (aggregating up to ₹4.05 Cr) |
| Offer for Sale | 299,000 shares of ₹10 (aggregating up to ₹4.04 Cr) |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.79x | 0.46x | 0.63x | |
| Day 2 | - | - | 1.61x | 1.57x | 1.59x | |
| Day 3 | - | - | 1.62x | 2.18x | 1.90x | |
| Day 4 | - | - | 2.00x | 3.30x | 2.65x |
IPO Tentative Timetable
The Rex Sealing and Packing Industries Limited IPO open date is Dec 30, 2022, and the close date is Jan 04, 2023. The issue may list on Jan 12, 2023.
| IPO Open Date | Dec 30, 2022 |
| IPO Close Date | Jan 04, 2023 |
| Basis of Allotment Date | Jan 09, 2023 |
| Initiation of Refunds | Jan 10, 2023 |
| Credit of Shares to Demat Account | Jan 11, 2023 |
| IPO Listing Date | Jan 12, 2023 |
IPO Lot Size
The Rex Sealing and Packing Industries Limited IPO market lot size is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or ₹135000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1000 | ₹135000 |
| Maximum | 1 | 1000 | ₹135000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 73.02% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 1317.08 | 1726.3 | 36.81 |
| 31-Mar-22 | 1443.75 | 2115.68 | 54.62 |
| 30-Jun-22 | 1508.67 | 571.62 | 37.6 |
Objects of the Issue:
The Objects of the Net Proceeds from Fresh Issue is to raise funds for:
- Funding Working Capital Requirement
- General Corporate Purpose
Rex Sealing and Packing Industries Limited IPO Registrar:
Bigshare Services Pvt Ltd
Rex Sealing and Packing Industries Limited IPO Lead Manager(s):
Aryaman Financial Services limited
Company Contact Information:
Rex Sealing and Packing Industries Limited
A-207, 2nd Floor, Plot No.711 A Byculla Services Industries, D K Road
Ghodapdeo, Byculla
Mumbai
