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Rulka Electricals IPO
Price Band
₹223.0–235.0
Issue Size
₹26.4 Cr
Lot Size
600 shares
Min Investment
₹141,000
GMP
+₹410.0 (174.47%)
Issue Price
₹235.0
Subject to Sauda
₹187000
Paid only if allotted
Rulka Electricals IPO AI Summary
- Rulka Electricals IPO is listed on NSE SME in the Diversified Commercial Services sector.
- Price band: ₹223.0–₹235.0 per share, lot size 600 shares (min. investment ₹141,000).
- Subscription window: 16 May–21 May 2024, listing on 24 May 2024.
- Current GMP is +₹410.0 (174.47%), an estimated listing price of ₹645 — unofficial and can change daily.
Rulka Electricals Limited is set to list on May 24, 2024, following an IPO priced at ₹235. The company has shown strong revenue and profit growth, with an implied P/E of 28.62, which is lower than its peer Hec Infra Projects Limited. The IPO aims to raise funds for working capital and general corporate purposes.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Rulka Electricals IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 21 May 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Rulka Electricals IPO Grey Market Premium (GMP) Today
GMP
+₹410.0
GMP %
+174.47%
Est. Listing
₹645.0
Updated: 25 Jul 2026 14:05
About the Company
Founded in May 2013, Rulka Electricals Limited is an electrical and Fire-Fighting solutions company. The company offers various services, including electrical solutions, electrical panels, solar EPC contracts, turn-key electrical warehousing projects, electric commercial industrial services, maintenance services, electrical contracting, and data and voice cabling installation. These services cater to various sectors such as industrial, commercial, retail, and theatre. The company's integrated operations encompass designing, supplying, installing, testing, and commissioning the project. The company generates 100% of its revenue through Turnkey Projects, which include both material and labor along with engineering, design, and consulting services. The company's services can be divided into the following categories:- Electrical Services Fire Fighting Systems Security Systems Public Address Systems Access Control Systems Audio-Video Systems Services CCTV Systems Service IT & Networking Services Solar Systems The company is ISO 9001:2015 certified for its quality management systems. As of February 29th, 2024, the company has 92 employees on its payroll.
Company Financials (₹ Cr)
As of 2024-02-29
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 40.82 | 28.27 | 19.19 | 9.82 |
| Total Income | 65.28 | 46.90 | 36.27 | 19.60 |
| Profit After Tax | 5.66 | 2.81 | 1.12 | 0.54 |
| NET Worth | 12.90 | 5.57 | 2.77 | 1.65 |
| Reserves and Surplus | 9.49 | 5.46 | 2.66 | 1.54 |
| Total Borrowing | 11.05 | 5.27 | 2.81 | 2.31 |
Key Ratios
EPS
₹8.21
NAV
₹37.77
ROE
61.25%
ROCE
33.67%
RoNW
43.85%
P/B Value
6.22
P/E Ratio
28.62
Market Cap
₹100.07 Cr
PAT Margin
8.68%
Debt/Equity
2.16
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Hec Infra Projects Limited | 29.16 | 2.62% | 37.24 | 0.78 | 0.78 |
| Rulka Electricals Limited This IPO | 16.89 | 50.33% | — | 8.5 | 8.5 |
Promoters
Rupesh Laxman Kasavkar and Nitin Indrakumar Aher
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Meet Working Capital Requirement 14.00 2 General corporate purposes 4.82
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹36.27 Cr in the year ended 31 Mar 2022, rising to ₹46.90 Cr by 31 Mar 2023, and further increasing to ₹65.28 Cr by 29 Feb 2024. This indicates a strong upward trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹1.12 Cr in the year ended 31 Mar 2022, increasing to ₹2.81 Cr by 31 Mar 2023, and further rising to ₹5.66 Cr by 29 Feb 2024. This shows consistent growth in profitability.
Valuation
Rulka Electricals Limited has an implied P/E of 28.62 at the issue price, compared to peers like Hec Infra Projects Limited, which trades at a P/E of 37.24. This positions Rulka at a lower valuation relative to its peer group.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is the price at which shares are traded in the unofficial market before they are listed on the stock exchange. A high GMP indicates strong demand for the shares, while a low GMP may suggest weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential and market conditions.
Who May Want to Wait
Investors with a low-risk appetite or those seeking immediate returns may want to consider avoiding this IPO, as it may involve fluctuations in share price post-listing.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While many investors hope to sell shares at a profit immediately after listing, market conditions can lead to price fluctuations. It's essential to assess the company's fundamentals rather than rely solely on potential short-term gains.
This evaluation is generated from Rulka Electricals's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Rulka Electricals IPO GMP today?
Rulka Electricals IPO GMP today is +₹410.0 (174.47%), indicating an estimated listing price of ₹645. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Rulka Electricals IPO?
The price band of Rulka Electricals IPO is ₹223.0–₹235.0 per share.
When does Rulka Electricals IPO open and close?
Rulka Electricals IPO opens on 16 May 2024 and closes on 21 May 2024.
When does Rulka Electricals IPO list on the stock exchange?
Rulka Electricals IPO listed on 24 May 2024 at ₹645.0.
What is the lot size for Rulka Electricals IPO?
The lot size for Rulka Electricals IPO is 600 shares, requiring a minimum investment of ₹141,000.
What is the lot size for Rulka Electricals IPO?
The lot size for Rulka Electricals IPO is 600 shares.
What is the minimum investment required?
The minimum investment required is ₹141,000.
What is the price band for the IPO?
The price band for the IPO is ₹223.0 to ₹235.0.
When is the listing date for Rulka Electricals?
The listing date for Rulka Electricals is May 24, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the IPO shares over the issue price in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
16 May 2024
Close
21 May 2024
Allotment
22 May 2024
Listing
24 May 2024
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