Regaal Resources Makes Smashing Market Debut; Lists At ₹141 Per Share

Regaal Resources made a superb market debut on Wednesday, listing at ₹141 per share on NSE, a premium of 38.24% to its IPO price of ₹102 per share. The stock was listed at a premium of 39.02% on the BSE.

At the time of writing, the shares were up 34.4% at ₹137.7.

IPO Details

Regaal Resources’ IPO opened for subscription on August 12 and closed on August 14, with allotments finalized on August 18.

The IPO saw overwhelming demand, subscribed 159.88 times overall, according to NSE data. Retail investors subscribed 57.75 times, non-institutional investors (NIIs) 356.73 times, while the qualified institutional buyers (QIBs) segment was booked 190.97 times.

The company had set its IPO price band at ₹96 - ₹102 per share. At the upper end, the issue helped the company raise ₹306 crore through a mix of a fresh issue of 2.06 crore shares worth ₹210 crore and an offer-for-sale of 94.12 lakh shares worth ₹96 crore.

Out of the fresh issue proceeds, ₹159 crore will be used for repayment or prepayment of select borrowings.

Pantomath Capital Advisors is the book-running lead manager, and MUFG Intime India is the registrar of the Regaal Resources IPO.

The company operates a zero-liquid-discharge maize milling facility, serving customers in the food, paper, animal feed, and adhesives sectors across India, as well as export markets such as Nepal and Bangladesh.

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