Rexpro Enterprises IPO
Rexpro Enterprises Ltd
₹1,45,000 /1000 sharesMinimum Investment
Rexpro Enterprises IPO Listing Details
Listed On | Issue Price | Listing Price | Listing Gains |
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-- | ₹145.00 | ₹117.00 | -₹28.00 (19.31%) |
Rexpro Enterprises IPO Details
Bidding Dates | Min. Investment | Lot Size | Price Range |
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22 Jan ‘25 - 24 Jan ‘25 | ₹1,45,000 | 1,000 | ₹145 - ₹145 |
Qualified Institutional Buyers | 0.00x |
Non-Institutional Investor | 4.84x |
Retail Individual Investor | 20.93x |
Total | 12.24x |
Rexpro Enterprises began as a provider of furniture and fixtures catering to retailers. Over time, the company built a client base spanning retail sectors, including fashion, lifestyle, electronics, grocery, beauty, and telecom. The company’s offerings include standalone stores, shop-in-shop formats, kiosks, and displays designed for both global and Indian brands.
The company has since diversified into manufacturing commercial and institutional furniture for offices, hospitals, and government facilities. Additionally, Rexpro has ventured into industrial products, producing items such as racks, cabinets, and trolleys. The products are primarily crafted from wood and metal, often combined with other materials.;
Managing director
Mr. Premal Niranjan Shah
Parent organisation
Rexpro Enterprises Ltd
Strengths & Financials of Rexpro Enterprises
Rexpro Enterprises manages turnkey projects, providing complete solutions that include designing, manufacturing, and installing all required products. These services are available across India.
The company uses various materials such as laminates, paints, acrylic, prints, solid surfaces, and LEDs to accessorise and add finishing touches to its products. The company claims that all processes are handled in-house to ensure consistent quality.
The company’s clientele includes major companies and brands such as Shoppers Stop, One RX India Private Limited (Samsung), Hindustan Unilever, Lenskart, Marks & Spencer Reliance India Private Limited, and Godrej & Boyce Mfg. Co. Limited.
Rexpro Enterprises is ISO 50001:2018 certified for energy management systems, ISO 13485:2016 certified for quality management systems for medical devices, and ISO 45001:2018 certified for occupational health and safety management systems.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 35.67 crore in FY22 (standalone) to Rs 62.88 crore in FY23 (consolidated) to Rs 82.99 crore in FY24 (consolidated). PAT increased from Rs 0.52 (standalone) crore in FY22 to Rs 0.63 crore (consolidated) in FY23 to Rs 4.52 crore (consolidated) in FY24.
The company and its promoters are currently involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
The company’s revenue relies on a few clients and does not have any long-term agreements with them. The top 10 customers contributed Rs 36.60 crore (73.86%) as of September 2024, and Rs 53.78 crore (64.80%), Rs 41.34 crore (65.75%), and Rs 25.59 crore (71.74%), respectively, to the revenue from operations in FY24, FY23, and FY22, respectively. Any loss of any of these clients or a reduction in business from them could adversely affect the company's operations and finances.
A large share of the company’s revenue comes from a specific region, primarily Maharashtra. This state contributed Rs 35.54 crore (71.73%) as of September 2024 on a consolidated basis and Rs 45.49 crore (54.82%), Rs 29.44 crore (46.82%), and Rs 18.29 crore (51.28%) to the revenue from operations in FY24 (consolidated), FY23 (consolidated), and FY22 (standalone), respectively. Any adverse developments in this area could negatively impact the company’s operations and financial performance.
All of Rexpro's manufacturing facilities are located in Maharashtra. This is a concentration risk. Any disruptions in the manufacturing facilities or any adverse developments in the business environment of the region could negatively impact its business and financial condition.
As of December 31, 2024, the company’s borrowings amounted to Rs 6.28 crore. Any inability to repay or service these loans could adversely affect the company’s financial position.
Rexpro Enterprises Financials
*All values are in Rs. Cr
Application Details of Rexpro Enterprises IPO
Apply as | Price band | Apply upto |
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Regular | ₹145 - 145 | ₹2 - 5 Lakh |
High Networth Individual | ₹145 - 145 | ₹2 - 5 Lakh |
For Rexpro Enterprises IPO, eligible investors can apply as Regular.