Rulka Electricals IPO Day 2: Details On Public Subscrptions, GMP Today

Rulka Electricals IPO Day 2: The Rulka Electricals IPO which was opened for Pubic Subscription On Thursday, May 16 recorded a huge subscription of 10.71 times on Day 2. There were bids for 80,10,000 shares in the SME IPO, but only 7,47,600 shares were opened for public subscription.

The IPO price range for Rulka Electricals is set at ₹223 to ₹235 per equity share, which is equal to ₹10 each.

The retail category got 17.73 times as many subscriptions as the non-institutional investor (NII) group, which got 7.28 times as many subscriptions.

The Rulka Electricals IPO will be over on May 21 and by May 22 it will finalised. It is expected to be listed on NSE SME by May 24.

The Rulka Electricals IPO Today

According to the reports Market the unlisted shares of Rulka Electricals Ltd are selling Rs 205 more than their issue price in the grey market.

This means there is a strong chance of an 87.23 percent listing gain from the public offering though the market keeps changing.

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About Rulks Electricals Ltd.

It was founded by Rupesh Laxman Kasavkar and Nitin Indrakumar Aher in 2013. Both Kasavkar and Indrakumar have great expertise in the electrical field. The owners' many years of experience working on construction sites and electrical/fire projects have helped shape the company's plan for growth.

Expectation Of Rulka Electricals IPO

The company expects to earn up to ₹26.4 crore from the public offering and intends to invest around Rs 14 crore in the development of its business and the rest for the day-to-day expenses and further offering expenditures.

The company is selling 8.42 lakh new shares and letting people buy up to 2.8 lakh shares with a face value of ₹10 through a process called "book-building."

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