RDCEL announces IPO plans to fuel B2B re-commerce growth

RDCEL IPO Plans: Rockingdeals Circular Economy Ltd (RDCEL), a B2B re-commerce firm, has announced its plan to raise capital through an Initial Public Offering (IPO) by filing preliminary documents. The company disclosed that its shares will be listed on the NSE Emerge platform.

The IPO comprises a fresh issuance of up to 15 lakh equity shares, each with a face value of Rs 10, utilising the book-building process. The proceeds from this offering will be directed towards various purposes, including working capital requirements, brand enhancement, marketing, advertising, and general corporate needs, as per the company's statement.

RDCEL recently concluded its pre-IPO round, which included a preferential issue of 4,80,130 shares at an issue price of Rs 100 per share, as stated by the company.

Aman Preet, the Promoter and Managing Director of RDCEL, expressed delight in achieving this significant milestone, moving the company closer to its goal of becoming a publicly traded entity.

Corporate Capital Ventures Pvt Ltd has been appointed as the book-running lead manager for the IPO.

RDCEL specialises in B2B sourcing, focusing on unboxed, excess inventory, and refurbished products spanning 18 different stock keeping units. The company, founded by Aman Preet, is part of the Rockingdeals Group headquartered in Faridabad, which has a presence in both B2B sourcing and B2C retailing.

(With PTI Inputs)