Rex Pipes and Cables IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Apr 30, 2022Let’s have a detailed review of the company and analytics of the Rex Pipes and Cables IPO release date, IPO offer price, subscription, Rex Pipes and Cables Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Cash Price | Rs 26 |
| Listing At | NSE Emerge |
| Min. Order Quantity | 4000 Shares |
| Listing Date | NA |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs Lakh |
| IPO Size | Rs 624 Lakh |
| Tick Size | 1 |
Rex Pipes and Cables IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Rex Pipes and Cables Share Price |
Rex Pipes and Cables IPO – Summary
Their Company was originally incorporated at Sikar as “Kaler Electricals Private Limited” on 9th July 2002 under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Jaipur.
The name of the company has been changed to “Rex Pipes and Cables Industries Private Limited” on 19th January 2018 vide Fresh Certificate of Incorporation issued by the Registrar of Companies, Jaipur. Consequent upon the conversion of the Company to a public limited company, the name of the Company was changed to “Rex Pipes and Cables Industries Limited” vide fresh certificate of incorporation dated 1st February 2018 issued by the Registrar of Companies, Jaipur.
The Promoter of this company is MR. SHARWAN KUMAR KALER AND MRS. SOHANI DEVI. The lead manager to the issue is NAVIGANT CORPORATE ADVISORS LIMITED, and the Registrar to this issue is KFIN TECHNOLOGIES PRIVATE LIMITED.
Rex Pipes and Cables IPO Date
The opening and the closing date of the IPO of Rex Pipes and Cables Limited are Jul 28, 2021, and Aug 2, 2021, respectively.
Rex Pipes and Cables IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 28 July | 1.37x | 1.67x | 1.52x |
| 2nd Day – 29 July | 2.15x | 12.08x | 7.11x |
| 3rd Day – 30 July | 2.59x | 22.00x | 12.29x |
| 4th Day – 2nd Aug | 6.84x | 41.13x | 14.76x |
| Shares Offered or Net Issue | 1,140,000 | 1,140,000 | 2,280,000 |
The shares subscribed by the public will be updated here.
Rex Pipes and Cables IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders according to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Rex Pipes and Cables Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Aug 5, 2021 |
| Refunds Initiation | Aug 6, 2021 |
| The credit of Shares to Demat Account | Aug 9, 2021 |
| Share Listing Date | Aug 10, 2021 |
Rex Pipes and Cables IPO Price Cash Price
The face value of each share is Rs.10, but the price band of the IPO is Rs.26
Rex Pipes and Cables IPO Equity Size
This Initial Public Issue of 2,400,000 Equity Shares of Rs.10 each for cash at a price of Rs.26 per equity share aggregating to Rs.624 Lakh.
Rex Pipes and Cables IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: 2,400,000 Equity Shares of Rs.10 each, aggregating to Rs.624 Lakh
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Rex Pipes and Cables IPO – Live Performance
The listing date of this IPO is Aug 10, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Rex Pipes and Cables Share Price |
Rex Pipes and Cables IPO Grey Market Premium
The Rex Pipes and Cables Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Rex Pipes and Cables IPO – Company Overview
Their Company was originally established as Kaler Electricals Private Limited in the year 2002 by Mr. Sharwan Kumar Kaler and his wife Mrs. Sohani Devi. Their company was established with an objective to take over the running business of M/s. KALER ELECTRIC WORKS, a proprietor firm owned by Mr. Sharwan Kumar Kaler himself.
The Journey started in the year 2002 in Rajasthan with the commitment to supply quality products meeting or exceeding customer’s expectations and achieving the objective of being a preferred supplier. Their Company is engaged in the Trading and production/Manufacturing product range encompassing uPVC pipes, HDPE pipe, Cables, fittings, and an abundance of accessories under the brand name “REX”.
The brand “REX” is the hallmark of 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.
Rex Pipes and Cables IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 31-Jan-21 | 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Total Assets | 3811.00 | 3382.79 | 3270.87 | 2704.16 |
| *Total Revenue | 4438.80 | 3206.87 | 3774.94 | 3516.41 |
| Total Expense | 4031.07 | 2735.93 | 3345.54 | 3194.64 |
| Profit After Tax | 100.66 | 77.50 | 130.66 | 127.40 |
Earnings per Equity Share (in Lakh)
| 31-Jan-21 | 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Basic & Diluted | 1.62 | 1.25 | 2.11 | 2.05 |
Further, their PAT for the period ended on Jan 31, 2021, March 31, 2020, March 31, 2019, and March 31, 2018, were Rs. 100.66 Lakh, Rs. 77.50 Lakh, Rs. 130.66 Lakh and Rs. 127.40 Lakh respectively.
Rex Pipes and Cables IPO – Promoters
The Promoter of this company is:
- SHARWAN KUMAR KALER
- SOHANI DEVI
List of Related Parties (Key Managerial Personnel)
- Sharwan Kumar Kaler, Business
- Sohani Devi, Business
- Jitendra Kumar Kaler, Business
- Rajendra Kaler, Business
- Anil Kumar, Professional
- Subhash Meel, Professional
Rex Pipes and Cables IPO – Promoters Holding
- Pre Issue Share Holding – 84.65%
- Pos Issue Share Holding – %
Rex Pipes and Cables IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 24,00,000 Equity Shares aggregating up to Rs.624 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 1,20,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to 22,80,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 11,40,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 11,40,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 62,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | 86,00,000 Equity Shares |
Rex Pipes and Cables IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To meet Working Capital requirements
2. General Corporate Purpose
3. To meet issue expenses
Rex Pipes and Cables IPO – Business Strategy
- Increase sales of their Piping Systems products by reaching out to more retailers and expanding their distribution network both in new areas as well as in areas where they already have a strong presence
- Expansion of Domestic Market
- Competitive Pricing
- Constant technology upgradation
- Leveraging their Market skills and Relationships
- Pursue strategic acquisitions
- Improving operational efficiencies
- Attract, train and retain qualified personnel
Rex Pipes and Cables IPO – Basis of 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 of experience
- Improving functional efficiency
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-20 | 1.25 | 7.44 | 16.80 |
| 31-Mar-19 | 2.11 | 13.57 | – |
| Mar-18 | 2.05 | 15.31 | – |
Rex Pipes and Cables IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Crores) | |
| Rex Pipes and Cables Industries Limited | 10 | 4.95 | 1.25 | 7.44 | 3,206.87 |
| Rex Pipes and Cables Industries Limited | 10 | 5.44 | 1.62 | 8.81 | 4438.80 |
| Listed Peers | |||||
| Finolex Cables Limited (On standalone basis) |
2 | 7.73 | 26.32 | 14.80 | 30,491.9 |
| Birla Cable Limited (On standalone basis) |
10 | 95.59 | 0.34 | 0.65 | 22,533.20 |
Rex Pipes and Cables 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- navigant@navigantcorp.com Investor Grievance Email: info@navigantcorp.com Website: www.navigantcorp.com SEBI Registration Number: INM000012243 Contact Person: Mr. Sarthak Vijlani |
Rex Pipes and Cables IPO Registrar to offer
| Registrar to the Offer |
| KFIN TECHNOLOGIES PRIVATE LIMITED Selenium Tower-B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032, Telangana Tel No. +91 40 6716 2222 Email Id- rexpipes.ipo@kfintech.com Investor Grievance Email: einward.ris@kfintech.com Website: www.kfintech.com SEBI Registration Number: INR000000221 Contact Person: Mr. M Murali Krishna |
Rex Pipes and Cables IPO – Other Details
- Statutory Auditor – M/s. Happy Kedawat & Company, Chartered Accountants
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Rex Pipes and Cables IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Rex Pipes and Cables Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Rex Pipes and Cables IPO Review FAQs
What is the Issue Size of Rex Pipes IPO?
The Company is making an initial public offer of 2,400,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Rex Pipes IPO?
The price band for this particular IPO ranges between Rs 26. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Rex Pipes IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Jul 28, 2021, while the closing date is set at Aug 2, 2021.
What is the Rex Pipes and Cables IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Aug 5, 2021, refund initiation is on Aug 6, 2021, credit of shares is on Aug 9, 2021, and share listing date is on Aug 10, 2021.
What is the Rex Pipes IPO Listing Date?
Shares of this company shall be listed in the exchanges on Aug 10, 2021. The date, when the listing would be done, is stagnant on Aug 10, 2021.
Who is the Registrar of Rex Pipes IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFIN TECHNOLOGIES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Rex Pipes and Cables?
Here are the promoters of this IPO – MR. SHARWAN KUMAR KALER AND MRS. SOHANI DEVI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Rex Cables IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Rex Pipes & Cables IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Rex Pipes?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2020 in Lakh is 77.50, 2019 is 130.66, 2018 is 127.40. PAT from Jan 2021 is 100.66.
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