Rex Sealing and Packing Industries IPO

Rex Sealing and Packing Industries IPO

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:

  1. Compressed Fibre Jointing Sheets / Gaskets
  2. Gland Packing & Ropes
  3. Fabric Expansion Joints
  4. Technical and Heat Resistance Textiles
  5. Ceramic Fiber Product

Basic details about the company

Full nameRex Sealing and Packing Industries Limited
Company Website

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 date30 December 2022
IPO Closing04 January 2023
Basis of Allotment09 January 2023
Initiation Refund10 January 2023
Credit to Demat Account11 January 2023
Listing Date12 January 2023

IPO details

Issue typeFixed 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 size1000 Shares
Retail Allocation50%
Listing ExchangeBSE SME

IPO Lot Size

Retail (Min)11000₹135,000
Retail (Max)11000₹135,000
HNI (Min)22,000₹270,000

Reservation Details

NII (HNI) Shares Offered50%
Retail Shares Offered50%

Financial Performance

 FY 2020FY 2021FY 2022Q1 FY 2023
Net income1.130.370.550.38
(Amount in ₹ Crores)

Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio47.37
RONW (%)15.464.786.63
EBITDA (%)12.888.006.88

Company Promoters

  • Naresh Nayak
  • Niranjan Nayak
  • Manjunath Nayak

Promoter Holding

Pre Issue Share Holding99.99%
Post Issue Share Holding73.02%

Lead Manager(s)

  • Aryaman Financial Services limited

IPO Registrar

Office No. S6-2, 6th Floor,
Pinnacle Business Park,
Mahakali Caves Road,
Andheri (East), Mumbai – 400 093
Phone: +91 22 6263 8200

Contact Details

A-207, 2nd Floor, Plot No. 711 A,
Byculla Services Industries,
D K Road, Ghodapdeo,
Byculla (East) Mumbai – 400027
Phone: +91 22 – 40021599

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

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