Regaal Resources IPO Soars: A Stellar Market Debut
Regaal Resources Ltd's shares soared 29% above the issue price on the BSE and NSE following a highly subscribed IPO. The company, which specializes in maize-based products, achieved a market valuation of Rs 1,352.35 crore. The IPO proceeds will primarily repay existing debts.
- Country:
- India
Regaal Resources Ltd, a burgeoning name in the maize-based product industry, made a remarkable entry into the stock market with its shares closing 29% higher than the issue price at the BSE and NSE. The initial price was set at Rs 102, and the shares began trading at Rs 141.80 on the BSE, marking a 39% increase.
The stock witnessed a peak of Rs 145.70 during the day's trading and ultimately settled at Rs 131.65 on the BSE and Rs 131.58 on the NSE. The impressive market debut has propelled the company's valuation to Rs 1,352.35 crore.
The IPO of Regaal Resources, which attracted heavy investor demand, was oversubscribed 159.88 times. Led by this overwhelming support, the Rs 306 crore IPO consisted of a fresh issue valued at Rs 210 crore and an Offer For Sale of 94.12 lakh shares by promoters.
(With inputs from agencies.)
ALSO READ
Vodafone Idea gets Rs 638-cr GST penalty order from Office of Additional Commissioner, Central Goods & Service Tax, Ahmedabad: BSE filing.
Jaipur school suicide: CBSE cancels affiliation of Neerja Modi School over lapses, violation of norms.
CBSE Revokes Jaipur School Affiliation Over Student Safety Lapses
Tragic Death and School's Violation Result in CBSE's Withdrawal of Affiliation
Jaipur school suicide: CBSE says school is liable for severest of penalty for gross violation of student safety norms.
Google News