Rex Industries IPO – Review, Allotment Status, Subscription, Price, Date & more

Rex Pipes and Cables Industries is to issue upto 24,00,000 Equity Shares through its IPO, having face value of Rs. 10.00 each. Let’s have a detailed review of the company and analytics of the Rex Industries IPO release date, IPO offer price, subscription, Rex Industries IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Rex Industries IPO Review & Ratings

Rex Industries IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.2/10
Industry Ranking 6.1/10
Company Background6.1/10
Company Reputation6.0/10
Competitive Edge6.o/10
Financial Statements6.2/10
Popularity Index6.0/10
Promoters Reputation6.0/10
Retail Appetite 6.2/10
Top Brokers Review6.1/10
Overall Ratings 6.1/10
Star Ratings★★★☆☆

Summary of Rex Pipes and Cables Industries  IPO

Rex Industries IPOCompany is engaged in the Trading and production/Manufacturing product range encompassing uPVC pipes, HDPE pipe, Cables, fittings and abundance of accessories. The company produces excellent Three Core flat cables , Single Core Flexible Home wire , Poly Wrapped Winding wire along with UPVC, HDPE, etc. Total Issue of upto 24,00,000 Equity Shares having face value of Rs. 10.00 each. The brief comparison of financial differences each year are as follows:

  • Depreciation expenses for the Financial Year 2016-2017 have decreased to Rs. 57.66 lacs as compared to Rs. 68.85 lacs for the Financial Year 2015-2016. The decrease in depreciation was majorly due to decrease in value of tangible assets.
  • Finance Charges which consists of interest, processing fees and charges decreased by 26.67% in FY 2016-17 as compared to FY 2015-16 due to decrease in interest expenses and Bank charges.
  • Profit before tax increased by 40.32% from Rs. 60.77 lacs in financial year 2015-16 to Rs. 85.27 lacs in financial year 2016-17.
  • The profit after tax increased by 40.94% from Rs. 39.37 lacs in financial year 2015-16 to Rs. 55.49 lacs in financial year 2016-17. This increment was in line with increase in operational income.

The Promoters of this company are MR. SHARWAN KUMAR KALER AND MRS. SOHANI DEV. The lead manager to the issue is NAVIGANT CORPORATE ADVISORS LIMITED and the Registrar to this issue is KARVY COMPUTERSHARE PRIVATE LIMITED.


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Rex Industries IPO Date

The opening and the closing date of IPO of Rex Pipes and Cables Industries is not known yet.


Rex Industries IPO Subscription

 Subscription
Day 1X
Day 2 X
Day 3X
Day 4 X
Day 5 X

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Rex Industries IPO Allotment Status

Karvy Computershare Pvt Ltd – https://corpreg.karvy.com/ipostatus/


Rex Industries IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Rex Industries IPO Equity Share Offering

24,00,000 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed so it will be aggregated to Rs (24,00,000* Issue Price).


Rex Pipes and Cables Industries Limited – Company Overview

Company is engaged in the Trading and production/Manufacturing product range encompassing uPVC pipes,
HDPE pipe, Cables, fittings and abundance of accessories under the brand name “REX”. The brand “REX” is the
hall mark showcasing the entire Product range. It has just taken a little over two decades for The Rex group of
Industries to emerge as one of India’s leading manufacturers in the field of PVC Pipes & Fittings and PVC
insulated electrical wires.

The company produces excellent Three Core flat cables , Single Core Flexible Home wire , Poly Wrapped Winding wire along with UPVC, HDPE and sprinklers with unique skills, continuous technological upgrading machines, professional management testing and persistent dedication without compromising on quality leading the entire organization to National and International name and reputation.

Rex Pipes And Cables Industries Limited has emerged into a national entity as a complete innovation for its own
type of manufactured products. We offer a wide range of PVC pipes, HDPE pipe, Cables classified in a
systematic manner to ensure easy and accurate selection, with the simultaneous advantage of providing the
most cost-effective solutions for customers. We have established itself as an innovative leader and quality
manufacturer by continuously upgrading its technology, modernizing manufacturing facilities and maintaining
highest standards of quality and services.

Competitive Strengths of Rex Pipes and Cables Industries Limited:

  • Diversified Product Portfolio
  • Strategically located manufacturing facilities with a core focus on quality
  • Experienced Promoters and a well trained employee base
  • Customer Satisfaction.
  • Quality Assurance
  • Strong brands in the pipes and fittings segment with over 15 years’ experience
  • Improving functional efficiency

Business strategies of Rex Pipes and Cables Industries Limited:

  • Technology and Operational Excellence.
  • Develop and maintain relationships with the Clients.
  • Enhancing Operating Effectiveness and Efficiency.
  • Attract and retain talented employee.
  • Strong Business Development and Sales team.

Rex Pipes and Cables Industries Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-1731-Mar-1631-Mar-1531-Mar-1431-Mar-13
Total Assets1204.121612.881273.37931.28325.73
Total Revenue1,734.412376.671952.712357.171457.46
Total Expense1,532.372,222.921,755.711958.561,226.69
Profit After Tax142.99102.02132.85266.47155.00

 

Earnings per Equity Share (in Lakhs)

31-Dec-1731-Mar-1731-Mar-16
Basic 4.753.394.75
Diluted 5.624.30(1.13)

From the above statements, one could find that the Rex Pipes and Cables Industries Limited may perform well.


Rex Industries IPO – Promoters

The Promoter of this company are:

Promoter
Mr. Sharwan Kumar Kaler
Mrs. Sohani Devi
Promoter Group 
Mr. Bajrang Lal Kaler
M/s Sharwan Kumar Kaler HUF
Mr. Raghunath Singh Kaler
Mrs. Dhanni Devi Kaler
Mrs. Kohil Devi

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Rex Industries IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered Issue of upto 24,00,000 Equity Shares having face value of Rs. 10.00 each
 Of which:
 Reserved for Market Makers Upto 1,20,000 Equity Shares of face value of Rs. 10 each
 Net Issue to the Public Upto 22,80,000 Equity Shares of face value of Rs.10 each
 Of which:
 Retail Investors Portion Not less than 11,40,000 Equity Shares of face value of Rs.10 each (available for allocation to investors up to Rs. 2.00 Lacs)
 Non-Retail Investors PortionNot less than 11,40,000 Equity Shares of face value of Rs.10 each (available for allocation to investors up to Rs. 2.00 Lacs)
 Equity Shares outstanding prior to the Issue62,00,000 Equity Shares of face value of Rs.10 each
 Equity Shares outstanding after the IssueUpto 86,00,000 Equity Shares of face value of Rs. 10 each

Rex Industries IPO Issue Object

These are the IPO Issue Objects of the company

  • To finance the Expenditure towards Land & Site Development and Other Civil Work;
  • To Acquire the Plant & Mechinery;
  • To part finance the requirement of Working Capital;
  • To meet General corporate purposes;
  • To meet the expenses of the Issue.

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Rex Industries IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Diversified Product Portfolio
  • Strategically located manufacturing facilities with a core focus on quality
  • Experienced Promoters and a well trained employee base
  • Quality Assurance
  • Strong brands in the pipes and fittings segment with over 15 years’ experience
  • Improving functional efficiency

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-170.706.9911.35
31-Nov-170.646.0812.65
31-Mar-180.907.89NA
  • Industry P/E Ratio:
ParticularsP/E ratio
Average36.30
Highest257.90
Lowest3.80
  • Competitive Peers

REX PEER COMPARISON


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Rex Industries IPO Lead Managers

Lead Managers
NAVIGANT CORPORATE ADVISORS LIMITED
423, A Wing, Bonanza, Sahar Plaza Complex,
J B Nagar, AndheriKurla Road, Andheri East,
Mumbai-400 059
Tel No. +91-22-41204837/49735078
Email Id-
Investor Grievance Email:
Website: www.navigantcorp.com
SEBI Registration Number: INM000012243
Contact Person: Mr. Sarthak Vijlani

Rex Industries IPO Registrar to offer

Registrar to the Offer
KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District,
Nanakramguda, Hyderabad 500 032
Tel : +91 40 6716 2222, Fax : + 91 40 2343 1551
Website: https://karisma.karvy.com, E-mail:
Investor Grievance E-mail:
Contact Person : Mr. M Murali Krishna
SEBI Registration : INR000000221

Other Details:

  • Statutory Auditor – NA
  • Peer Review Auditor – NA
  • Bankers to the Company –  NA

Rex Industries IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

The ratings would be updated once the financials and the other details of the IPO are released.


Rex Industries IPO Grey Market Premium

The Rex Industries IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.


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Rex Industries IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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