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Regaal Resources, a maize product manufacturer, will list on BSE and NSE on August 20. The Rs 306-crore IPO, priced at Rs 102 per share, received a 159.87x subscription.
Regaal Resources IPO Listing Today
Regaal Resources IPO Listing Price Prediction: Shares of Regaal Resources IPO are set to list on the bourses on Monday, August 20. Shares are expected to be listed on the BSE and NSE at 10:00 am. The initial public offering of Regaal Resources Ltd, which is a maize-based speciality product manufacturer, received a 159.87x subscription on the final day of bidding.
The mainboard issue for subscription between August 12 and August 14. The allotment of Regaal Resources IPO was finalized on Monday, August 18.
Regaal Resources IPO Listing Price Prediction, GMP
According to market observers, unlisted shares of Regaal Resources Ltd are currently trading at Rs 133 against the upper IPO price of Rs 517. It means a grey market premium or GMP of Rs 31, which is 30.39% over its issue price, indicating a strong listing for the issue.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Regaal Resources IPO: More Info
The price of the Rs 306-crore IPO has been fixed at Rs 102 per share. On the final day of bidding on Thursday, the issue received a 159.87x subscription, garnering bids for 3,35,73,63,312 shares as against the 2,10,00,379 shares on offer. The retail and NII participation stood at 57.75x and 356.72x, respectively. The QIB category received a 190.96x subscription.
The IPO has a fresh issue of shares worth Rs 210 crore and an offer-for-sale of 94.12 lakh shares valued at Rs 96 crore by promoters, at the upper end of the price band. This aggregates the issue size to Rs 306 crore.
Following the issue, the promoters’ stake will reduce to approximately 71 per cent from 100 per cent.
Of the fresh issue proceeds, Rs 159 crore will go towards repayment or pre-payment of certain borrowings.
Regaal Resources operates a zero liquid discharge maize milling facility catering to customers in food products, paper, animal feed and adhesives across India, and in export markets such as Nepal and Bangladesh.
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Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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