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Regaal Resources IPO: The initial public offering (IPO) of Regaal Resources, which will conclude today, August 14, has been subscribed 61.68 times so far on the last day of the bidding process.
The Rs 306-crore issue of a maize-based speciality product manufacturer received bids for 1,29,53,15,856 shares against 2,09,99,664 shares by 12:36 pm.
Category-wise, the non-institutional investors (NII) category led the rush, applying bids 188.87 times their allotted quota. The retail portion fetched 39.05 times subscription, while the qualified institutional buyers (QIBs) segment was subscribed 5.90 times.
Regaal Resources IPO: Price band, issue size, anchor Investors, and key details
Prior to the IPO launch, Regaal Resources raised approximately Rs 92 crore from anchor investors on August 11. The company has set the IPO price band at Rs 96–102 per share, with bidding open until Thursday, August 14.
The IPO consists of a fresh issue of shares worth Rs 210 crore and an offer-for-sale (OFS) of 94.12 lakh shares by promoters, valued at Rs 96 crore at the upper end of the price band. This brings the total issue size to Rs 306 crore. After the IPO, promoters’ stake will drop from 100 per cent to around 71 per cent.
Use of proceeds
Regaal Resources plans to utilise Rs 159 crore from the fresh issue to repay or prepay certain borrowings, with the remaining funds allocated for general corporate purposes.
About Regaal Resources
The company operates a zero-liquid-discharge maize milling facility serving clients in the food products, paper, animal feed, and adhesives sectors across India. It also exports to international markets including Nepal and Bangladesh.
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