The Indian IPO market is set to witness the entry of another promising company – Rosmerta Digital Services. The company is all set to launch its Initial Public Offering (IPO), which will open for subscription on Monday, November 18, 2024, and close on Thursday, November 21, 2024. Let’s dive into the key details of the IPO and what investors can expect.
Price Band and Subscription Details
The Rosmerta Digital Services IPO has been priced between ₹140 and ₹147 per equity share. Investors can place bids for a minimum of 1,000 shares in this IPO. The price band offers a compelling valuation, with the floor price being 7 times the face value and the cap price at 73.50 times.
Looking at the Grey Market Premium (GMP), it stands at ₹22, indicating that the estimated listing price of the shares could be around ₹169 per share, which is approximately 14.97% higher than the upper price band of ₹147.
Fresh Issue of Shares
Unlike some other IPOs that feature an Offer for Sale (OFS), Rosmerta Digital Services is offering a fresh issue of 14,036,000 equity shares, amounting to a total issue size of ₹206.33 crore. The company has no OFS component, meaning all the proceeds from the fresh issue will go to the company.
The lead managers for this IPO are Narnolia Financial Services and Beeline Capital Advisors Private Limited, with Link Intime India Private Limited handling the registrar duties. Spread X Securities will be the market maker for the IPO.
Company’s Plans and Use of Funds
Rosmerta Digital Services plans to utilize the funds raised through the IPO for several objectives. A significant portion will go towards capital expenditure for acquiring office space in Mumbai, which is a part of their business expansion strategy.
Post-IPO, the company’s shares will be listed on the BSE SME platform, making it an exciting opportunity for those interested in investing in small and medium enterprises (SMEs).
About Rosmerta Digital Services
Rosmerta Digital Services is a subsidiary of Rosmerta Technologies Limited. The company initially began by offering vehicle registration services to Original Equipment Manufacturers (OEMs) and has since diversified into various other services, including garage services.
This IPO marks a significant milestone for the company as it looks to expand its operations and reach new heights in the digital services space.
With the IPO opening soon, Rosmerta Digital Services is one to watch in the upcoming months for investors looking for opportunities in the SME sector.
