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B2B re-commerce player Rockingdeals Circular Economy to raise around Rs. 25 crore from its proposed IPO

Delhi, 23rd October, 2023: Rockingdeals Circular Economy, a leading Indian B2B re-commerce player, expects to raise around Rs. 25 crore from its IPO (including a successfully concluded Pre-IPO round of Rs. 4.80 crore) and list on NSE Emerge during November 2023. The Faridabad-headquartered sourcing specialist across unboxed, excess inventory, and refurbished products also has its eyes set on multi-fold growth in the next two years, riding on the expanding brand partnerships and wider national footprints. The company already has four warehouses and is further planning to expand its footprints in North-east India – a high-growth consumer retail market.

The company filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge in September 2023 and plans to offer up to 15,00,000 equity shares of face value Rs. 10/- each through the book-building process. The company has appointed Corporate Capital Ventures Pvt. Ltd. as Book Running Lead Manager to the Issue and Bigshare Services Pvt. Ltd. as the Registrar to the Issue.

“The Governments, corporates and brands globally are focusing on reducing disposal and e-waste as well as supporting the right to repair movement – be it in terms of standardising accessories, spare parts or even offering software updates for 5-7 years,” said Mr. Aman Preet, Promoter and Managing Director, RDCEL. “The point being sustainability agenda and consumerism can go hand in hand if the next 10% of consumers can be tapped – who see the value in the product they pay for. This is the core of what we at Rockingdeals Circular Economy aim to achieve. We have built a business model that can easily be replicated worldwide – based on three pillars – trust-led brand tie-ups, robust distribution network and most importantly, the ability to price the offering in a manner that accentuates the shopping experience. We are expanding to newer markets every day and are confident to quadruple our topline in the next two years”, added Aman.

Rockingdeals Circular Economy Limited (RDCEL) is a part of the Faridabad-headquartered Rockingdeals Group, which commands a presence from B2B sourcing to B2C retailing. The company was founded by Mr. Aman Preet, a first-generation entrepreneur who pioneered the concept of the ‘organised seconds’ category in mobile phones more than a decade ago. Presently he is the Managing Director of the company. RDCEL is the sole sourcing partner for Rockingdeals Retail network and, in addition, also sells its products to other large and small vendors in the country.

The company recently concluded its pre-IPO round comprising a preferential issue of 4,80,130 Equity Shares at an Issue Price of INR 100/- per equity share. The company’s object of the issue includes working capital requirement, brand positioning, marketing and advertising, and general corporate purpose.

RDCEL is among India’s largest organised players in the B2B sourcing space – specialising in unboxed, excess inventory, and refurbished products. The company sources products across 18 stock-keeping units (SKUs), including electrical appliances, apparel & footwear, speakers, mobile and mobile accessories. The company has partnered with marquee brands and platforms, including Samsung, Thomson, MI, LG, Symphony, Zara, Nike, Reebok, Campus, Sony, JBL, Boat, Gizmore, One Plus, etc. Besides, the company has affiliates of Snapdeal, Flipkart and Amazon for sourcing surplus inventory and open-box products. RDCEL has also partnered with companies like GO Auto Salora International and dealers & distributors like Matrix Housewares, Raj Agency, Sudhi Enterprises, etc. RDCEL also procures the products in bulk from various dealers of Inalsa and supplies these products in bulk to clients such as Shopclues, Jindal Mega Mart, Brand Wala, VLE Bazaar, HIC International, PSUAVI, KRAT India, Zazz Technology, and Rockingdeals Group companies.

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