Rex Sealing and Packing Industries IPO will open for subscription from 30 December 2022. the company aims for an issue size of ₹8.09 Cr through this IPO.
About Company
Rex Sealing and Packing Industries is a manufacturer and exporter of Sealing packing and Insulation products including Jointing Sheets, Fabric Expansion Joints, Gland packing & Ropes, High-Temperature resistant textiles, Ceramic Fiber Products, etc.
The business was initiated in the Year 1963 by the founding promoter, Mr. Manjunath Nayak under the name “M/s Rex Industries” for manufacturing of Gland Packing. Initially, the company started as a manufacturing business on a very small scale. Thereon, in the Year 1997, the business was further expanded by the second generation of the family, Mr. Niranjan Nayak, and later joined by Mr. Naresh Nayak in the Year 2001. The company was incorporated in the Year 2005.
The company has its manufacturing facility at Plot No.44, MIDC- Taloja Industrial Area, Palekhurd Panvel, Raigad, Maharashtra. It is in the process of setting up an additional manufacturing facility at Anand Nagar, MIDC Ambernath, admeasuring 4000. Sq meter for expansion of business and manufacture of all types of “Asbestos Free” Gasket sheets for Automotive, Steel, and other process units.
The vast product portfolio of Rex Sealing and Packing Industries includes:
- Compressed Fibre Jointing Sheets / Gaskets
- Gland Packing & Ropes
- Fabric Expansion Joints
- Technical and Heat Resistance Textiles
- Ceramic Fiber Product
Basic details about the company
| Full name | Rex Sealing and Packing Industries Limited |
| Sector | Other |
| Industry | Other |
| Company Website | https://rexseal.com/ |
The objective of the Issue
- Funding Working Capital Requirement.
- General Corporate Purpose.
Major Competitive strengths
- Experienced management team.
- Good client base. customer-centric company.
- Wide product portfolio.
IPO Timetable
| IPO Opening date | 30 December 2022 |
| IPO Closing | 04 January 2023 |
| Basis of Allotment | 09 January 2023 |
| Initiation Refund | 10 January 2023 |
| Credit to Demat Account | 11 January 2023 |
| Listing Date | 12 January 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹8.09 Cr – 599,000 shares |
| Fresh Issue | ₹4.05 Cr – 300,000 shares |
| Offer for sale | ₹4.04 Cr – 299,000 shares |
| Face value | ₹10 per share |
| Offer price | ₹135 per share |
| Lot size | 1000 Shares |
| Retail Allocation | 50% |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹135,000 |
| Retail (Max) | 1 | 1000 | ₹135,000 |
| HNI (Min) | 2 | 2,000 | ₹270,000 |
Reservation Details
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | Q1 FY 2023 | |
| Revenue | 20.06 | 17.14 | 21.08 | 5.71 |
| Expenses | 18.64 | 16.73 | 20.47 | 5.33 |
| Net income | 1.13 | 0.37 | 0.55 | 0.38 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 5.90 | 1.92 | 2.85 |
| PE ratio | – | – | 47.37 |
| RONW (%) | 15.46 | 4.78 | 6.63 |
| NAV | – | – | 42.93 |
| EBITDA (%) | 12.88 | 8.00 | 6.88 |
| Debt/Equity | 0.60 | 0.44 | 0.46 |
Company Promoters
- Naresh Nayak
- Niranjan Nayak
- Manjunath Nayak
Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 73.02% |
Lead Manager(s)
- Aryaman Financial Services limited
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor,
Pinnacle Business Park,
Mahakali Caves Road,
Andheri (East), Mumbai – 400 093
Phone: +91 22 6263 8200
E-mail: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
REX SEALING AND PACKING INDUSTRIES LIMITED
A-207, 2nd Floor, Plot No. 711 A,
Byculla Services Industries,
D K Road, Ghodapdeo,
Byculla (East) Mumbai – 400027
Phone: +91 22 – 40021599
E-mail: compliance@rexseal.com
Website: www.rexseal.com
Allotment Status
Rex Sealing IPO allotment status will be available on Bigshare Services’ website. Click on Bigshare Services weblink to get allotment status.
Final thoughts
Rex Sealing and Packing Industries IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
