Bought this after a long debate with myself on multiple racks available in the market. In comparison to other racks, this one has 3 point contact and weight is distributed across the three points. Hence, there is no fear of the wall wearing out cycle falling down. Also, the cycle does not move at all as the tyres are resting on the rack.
The rack is made of solid metal, hook is rubberised.
Overall, a well engineered product. Thanks ibera and BOTS for making it available in India!