By K Ashwin Mobile: 09920183006 Email:email@example.com
Mumbai based Rajnish Wellness Limited (RWL), engaged in the business of marketing and distribution of sexual wellness, energy revitalization and personal care products, became 255th SME Company to get listed on BSE SME Platform. The script made a strong debut and surged 12 per cent, post the listing. Stock opened at Rs 100 and touched a day’s high of Rs 104.7 a share.
The Lead Manager to the Issue is Navigant Corporate Advisors Ltd., and the Registrar to the Offer is Bigshare Services Pvt. Ltd.
Mr. Rajnish Kumar Singh, Founder and Managing Director, Rajnish Wellness Ltd said “We are probably the youngest company to get listed on BSE SME platform on a day when BSE, Asia’s oldest Stock Exchange is celebrating 143rd birth anniversary. We as a group of young individuals below the age of 30 are really proud of our collective achievement. The Company raised Rs 119.8 million from Its IPO comprising 12, 61, 00 Equity Shares of face value of Rs. 10 each for cash at price of Rs. 95 per share. The issue which opened for bids at BSE SME platform on 25 June, 2018, was fully subscribed. Proceeds of IPO will be utilized towards working capital requirement, general corporate, brand building and issue expanse purpose”
“RWL is a young & vibrant company providing Indian consumers with sexual wellness, personal & health care solutions by leveraging the ancient heritage of Ayurveda. The Company markets and sells contraceptives, sexual enhancement supplements, personal lubricants, healthcare products and enjoys healthy market share and leadership position. The Company was incorporated on June 13, 2015 and in a short span of time of three years Rajnish Wellness has grown tremendously to become a leading player in the segment and the Company is poised for the accelerated growth in coming years.”
“Changing lifestyle and awareness of health and wellness is increasing demand for these products and the Company is further exploring ethical market in sexual wellness and energy revitalization category. Sexual wellness in India is witnessing a sea change with a plethora of products entering the market which is growing at a very healthy pace of CAGR of 41.97%. PlayWin”, the flagship brand of RWL has established itself as India’s fastest growing brand in sexual wellness category within a short period of three years with presence across more than 30,000 outlets pan India, Mr Singh added.
The Company’s diversified product portfolio covers several flagship products which are marketed and sold under well established brand names such as “PlayWin Capsules” , “PlayWin Condom”, “Rajnish Lotion”, “Rajnish Plus Lotion”, “Play Win Spray”, “PlayWin Plus Capsules”, “PlaWin Oil”, , “PlayWin F Capsule”, “Kasaav Powder”, “SudantaDantManjan”, “Mithohar Liquid”, “Mithohar Tablets”, “Madamrit Hair Shampoo”, “Madamrit Hair Oil”, “Madamrit Hair Capsule” and Pia Lo Herb’s.
The Company has expanded its reach in 17 states in India through innovative marketing strategies and enjoys very strong hold in Maharasthra, Karnataka, and Odisha. The other states where Company is significantly making inroads include Uttar Pardesh, Bihar, Delhi, Jharkhand, Madhya Pradesh, Uttarakhand, Haryana and West Bengal. All products of the company are available in all major medical stores in these states.
The Company has posted a healthy financial performance. For the Fiscal year ended as at February 28, 2018, March 31, 2017 and March 31, 2016 the Company’s gross revenues stood at Rs.2,423.22 Lakhs, Rs.2,529.63 Lakhs and Rs.1,315.88 lakhs respectively while PAT (Profit after Tax) for these periods stood at Rs. 161.87 Lakhs, Rs.63.87 Lakhs and Rs.32.34 Lakhs respectively.