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Regaal Resources IPO Subscription: The initial public offering (IPO) of Regaal Resources, a maize-based speciality product manufacturer, witnessed strong investor interest on the second day of bidding, with subscriptions reaching 14.42 times so far.
According to BSE data, the IPO received bids for 30.28 crore shares against the 2.09 crore shares available by 12:30 pm. Category-wise, the non-institutional investors (NII) category led the rush, subscribing 32.44 times their allotted quota. The retail portion saw 13.19 times subscription, while the qualified institutional buyers (QIBs) segment was subscribed 3.07 times.
Regaal Resources IPO: Price band, issue size, anchor investor, key details
Before the IPO launch, the company had raised about Rs 92 crore from anchor investors on August 11. The company has fixed the price band for the issue at Rs 96–102 per share. The bidding for the IPO will remain open until Thursday, August 14.
The IPO comprises a fresh issue of shares worth Rs 210 crore and an offer-for-sale (OFS) of 94.12 lakh shares valued at Rs 96 crore by promoters, at the upper end of the price band.
The total issue size stands at Rs 306 crore. Post-issue, the promoters’ stake will reduce to around 71 per cent from the current 100 per cent.
Regaal Resources IPO: Funds utilisation
Regaal Resources plans to use Rs 159 crore from the fresh issue proceeds to repay or prepay certain borrowings, with the remainder earmarked for general corporate purposes.
What does Regaal Resources do?
The company operates a zero liquid discharge maize milling facility that serves customers in the food products, paper, animal feed, and adhesives sectors across India. It also exports to markets such as Nepal and Bangladesh.
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