Shares of Rockingdeals Circular Economy made a strong debut at the NSE-Emerge on Thursday as the stock closed at ₹315 — a gain of 125 per cent over the IPO price of ₹140. The IPO was subscribed over 213 times last week. Rockingdeals specialises in bulk trading of excess inventory, open-boxed inventory, re-commerce products, and refurbished products.
The company had raised over ₹21 crore through the IPO by issuing 15 lakh shares. Proceeds from the issue will be utilised towards working capital requirement, brand positioning, marketing, advertising, and general corporate purpose, it said.