Incorporated in 2005, Rex Sealing and Packing Industries Limited 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 first started by Mr Manjunath Nayak under the name M/s Rex Industries for manufacturing Gland Packing.
The vast product portfolio of Rex Sealing and Packing Industries includes:
- Compressed Fibre Jointing Sheets / Gaskets
- Gland Packing & Ropes
- Fabric Expansion Joints
- Technical and Heat Resistance Textiles
- Ceramic Fiber Product
The company executes in-house manufacturing through its unit situated in MIDC- Taloja Industrial Area, Palekhurd Panvel, Raigad.
The company is also planning to set up an additional manufacturing unit in Anand Nagar, MIDC Ambernath, admeasuring 4000. Sq meter for expansion of business and manufacture. Rex Sealing and Packing Industries will manufacture all types of “Asbestos Free” Gaskets sheets for Automotive, Steel, and other process units through this extension.
They are a customer-centric company, and the products of the company are used by some well-known industrial houses in the Petrochemical, Pharmaceutical, Power, Steel, Cement, Chemical, Gas, and Process industry.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 1357.01 | 2017.7 | 113.32 | 732.87 | 437.35 |
| 31-Mar-21 | 1317.08 | 1726.3 | 36.81 | 769.67 | 338.95 |
| 31-Mar-22 | 1443.75 | 2115.68 | 54.62 | 824.3 | 377.71 |
| 30-Jun-22 | 1508.67 | 571.62 | 37.6 | 861.9 | 328.22 |
| Amount in ₹ Lakhs |
Objects of the Issue
The Objects of the Net Proceeds from Fresh Issue is to raise funds for:
- Funding Working Capital Requirement
- General Corporate Purpose
Rex Sealing and Packing Industries IPO Details
| IPO Date | Dec 30, 2022 to Jan 4, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹135 per share |
| Lot Size | 1000 Shares |
| Issue Size | 599,000 shares of ₹10 (aggregating up to ₹8.09 Cr) |
| Fresh Issue | 300,000 shares of ₹10 (aggregating up to ₹4.05 Cr) |
| Offer for Sale | 299,000 shares of ₹10 (aggregating up to ₹4.04 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
| Market Maker | ARYAMAN CAPITAL MARKETS LIMITED |
| Company Promoters | Naresh Nayak, Niranjan Nayak and Manjunath Nayak are the promoters of the company. |
Rex Sealing and Packing Industries IPO Tentative Timetable
Rex Sealing and Packing Industries IPO opens on Dec 30, 2022, and closes on Jan 4, 2023. The Rex Sealing and Packing Industries IPO bid date is from Dec 30, 2022 10.00 A.M. to Jan 4, 2023 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Dec 30, 2022 |
| Closing Date | Jan 4, 2023 |
| Basis of Allotment | Jan 9, 2023 |
| Initiation of Refunds | Jan 10, 2023 |
| Credit of Shares to Demat | Jan 11, 2023 |
| Listing Date | Jan 12, 2023 |
Rex Sealing and Packing Industries IPO Lot Size
The Rex Sealing and Packing Industries IPO lot size is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or ₹135,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹135,000 |
| Retail (Max) | 1 | 1000 | ₹135,000 |
| HNI (Min) | 2 | 2,000 | ₹270,000 |
Rex Sealing and Packing Industries IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 73.02% |
Rex Sealing and Packing Industries IPO Review
RSPIL is in a highly competitive and fragmented segment. It has posted inconsistency in its financial performance. On the basis of its super earnings for Q1 of FY23, the issue appears fully priced. Small paid-up equity capital post listing indicates longer gestation for migration to the main board. Well-informed, cash surplus/risk seekers may consider parking funds. Read detail review…
Rex Sealing and Packing Industries IPO Prospectus
Company Contact Information
Rex Sealing and Packing Industries Limited
A-207, 2nd Floor, Plot No.711 A
Byculla Services Industries, D K Road,
Ghodapdeo, Byculla (East) Mumbai – 400027
Phone: +91-22-40021599
Email: compliance@rexseal.com
Website: http://www.rexseal.com/
Rex Sealing and Packing Industries IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com