- Regaal Resources shares listed at a 39% premium over the IPO price on Wednesday
- Shares started trading at Rs 141 on NSE and Rs 141.8 on BSE against Rs 102 issue price
- IPO was oversubscribed 159.88 times, receiving bids for over 335 crore shares
Regaal Resources Ltd. shares listed at a 39% premium of over its IPO price on Wednesday. The scrip started trading at Rs 141 on the NSE and Rs 141.8 on the BSE. The issue price was Rs 102 per share.
The initial public offer was fully subscribed within hours of launch last week. The overwhelming response from the investors remained, as the IPO was oversubscribed 159.88 times on the third and final day of bidding on Aug. 14.
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The IPO received bids for more than 335.73 crore shares against 2.09 crore shares on offer.
The Qualified Institutional Buyers (QIBs) booked their category 190.97 times. The Non-Institutional Investors' (NIIs) category was subscribed 356.73 times, while the retail portion was booked 57.75 times.
The Regaal Resources IPO was a book-building issue worth Rs 306 crore. The IPO was a combination of a fresh issue of 2.06 crore shares worth Rs 210 crore and an offer for sale of 94 lakh shares, amounting to Rs 96 crore.
Regaal Resources is an agro-processing company that manufactures maize starch and starch derivative products. The company will use proceeds from the IPO to clear debt and for general corporate purposes.
The company has a market cap of Rs 1,430 crore.
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