Rs 306 crore Regaal Resources IPO opens with price band of Rs 96–102

Regaal Resources IPO: The Rs 306-crore initial public offering (IPO) of Regaal Resources opened for public subscription on Tuesday, August 12. The book-built issue comprises a fresh issue of 2.06 crore shares worth Rs 210 crore and an offer-for-sale (OFS) of 0.94 crore shares aggregating to Rs 96 crore. The IPO will remain open until August 14.

The company has fixed the price band between Rs 96–102 with a minimum application size of 144 shares, which means retail investors can apply for bidding with a minimum investment of Rs 13,824.

The allotment process is expected on August 18 and a tentative listing on August 20 on both the BSE and NSE.

Anchor investor details

On Monday, the company secured around Rs 92 crore from anchor investors.

Regaal Resources Day 1 Subscription Status

On the first day bidding process, the IPO has been subscribed 3.54 times so far. As of 1:51 pm, it received bids for 7,43,00,832 shares against 2,09,99,664 shares. Category-wise, the non institutional investors (NIIs) portion subscribed 5.44 times, while the retail segment fetched a 3.55 times subscription. Meanwhile, the quota reserved for qualified institutional buyers (QIBs) saw a subscription of 2.10 times.

(This story will be updated soon.)