Rulka Electricals stock debuts at 123% premium over IPO price

The IPO, which was completely a of 11.23 lakh shares, received bumper response with an overall subscription of 600 times at close.

The net proceeds from the public offer will be used for funding working capital requirements, general corporate purposes, public issue expenses.

Rulka Electricals is in the business of engaged in offering solutions for all types of electrical and fire fighting Turnkey projects.

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The company offers a wide range of services like , electrical panels, solar EPC contracts, turn key electrical warehousing projects, electric commercial industrial services, maintenance services, electrical contracting and data and voice cabling installation across the industrial sector, commercial, retail and theatre sector.

It offers electrical contracting services for all types of industrial plants.

The company has integrated operations which involve designing, supplying, installation, testing and commissioning of the project. It also maintains the projects as per the requirements.

Currently, most of the company's sales are derived from Delhi-NCR region. Its extensive franchisee network consisted of four company-owned outlets and 6 franchisee-owned outlets, totalling 10 exclusive brand outlets which sells and markets only its own brand’s products, complemented by the sales and marketing team of 12 employees.

The company also relies on the D2C platform through in-house built mobile applications both on Google Play Store and Apple’s App Store and a website which is available for sale of the products.

India's witnessed its highest growth rate in over 30 years in FY23. Power generation in India increased by 8.87% to 1,624.15 billion kilowatt-hours (kWh) in FY23.

For the period ended February 2024, the company clocked of Rs 65.27 crore and net profit of Rs 5.65 crore.

acted as the lead manager to the issue and was the registrar.