• Source:JND
Add as a preferred

Upcoming IPO:  Rosmerta Digital Services is aiming to raise more than Rs 206 crore via an initial public offering (IPO) that will open for subscription on November 18. The issue, priced at Rs 140 to Rs 147 each, will close on November 21. The anchor investor bid will open for one day on November 14, the company said in a public notice.

The IPO will have a totally fresh issue of 140.36 lakh equity shares worth Rs 206.33 crore at the upper end of the price band. The company will debut on the BSE SME platform. Rosmerta Digital Services Limited, a subsidiary of Rossmerta Technologies Limited (RTL), is involved in providing automotive parts and accessories in digitally enabled services and digitally enabled channel sales.

The company initially offered vehicle registration services to Original Equipment Manufacturers (OEMs) and has since diversified into a wide range of services including garage services, last-mile delivery services, automotive components and accessories sales.

It is involved in both business-to-business (B2B) and business-to-consumer (B2C) sectors. In the B2B segment, it serves automotive OEMs through its vehicle ownership experience vertical, online marketplaces and garages among others, and other product manufacturers through last-mile delivery services.

In the B2C segment, Rossmerta Digital Services serves vehicle owners through vehicle registration services, garage services and automotive spare parts and accessories.

Narnolia Financial Services Limited and Beeline Capital Advisors Pty Ltd are the lead managers running the books on the matter.

Also Read: Stock Market: Sensex, Nifty Rise In Early Trade; Rupee Hits Fresh All-Time Low Against US Dollar