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Established in October 2010, Storage Technologies and Automation Limited or Racks & Rollers specializes in providing storage solutions particularly in the design, manufacturing and installation of metal storage racks and automated warehouses. Its offerings cater to a wide range of industries such as oil & gas, automotive,  pharmaceuticals, aerospace, food & beverages, textiles, retail and FMCG. With over a decade of experience, Racks & Rollers completed over 2500 projects and served more than 900 customers globally. Its reach extends to more than 30 countries worldwide.

Racks & Rollers IPO Overview

Racks & Rollers is gearing up to offer shares worth ₹29.95 crore through its Initial Public Offering (IPO). This offering comprises 38.4 lakh fresh shares, each with a face value of ₹10, at a price range between ₹73 – ₹78 per share. subscription for the IPO is scheduled to open on 30 April 2024 and close on 3 May 2024. The allotment of shares is anticipated to be finalized by 6 May 2024. The company will list on the BSE SME platform, with the tentative listing date set for 8 May 2024.

Before the IPO, the promoters Mr. Mohammad Arif Abdul Gaffar Dor, Mr. Khasim Sait, Mr. Hanif A Khatri, Mr. Afzal Hussain, Mr. Syed Azeem and Mr. Nuumaan Khasim currently hold 100% of the company’s shares. However, post IPO, their ownership will decrease to 70.09%. Integrated Registry Management Services Private Limited is the registrar for the issue will be the registrar for the IPO.