The Initial Public Offering (IPO) of Regaal Resources Limited was subscribed 5.94 times on the first day of bidding.
The issue received bids of 12,47,21,568 shares against the offered 2,09,99,664 equity shares, at a price band of Rs 96-102, as per the stock exchanges’ data.
The non-institutional Investors portion and retail portion of the Regaal Resources IPO were subscribed 10.77 times and 5.58 times, respectively.
Regaal Resources IPO’s Qualified Institutional Buyer portion was subscribed 2.94 times. The issue was opened for subscription on August 12 and will close on August 14.
Pre-IPO anchor investment
A day before the opening of the issue, Regaal Resources Ltd raised Rs 91.80 crores from anchor investors. Some of the Institutions that participated in the anchor include Taurus Mutual Fund, Meru Investment Fund, Authum Investment and Infrastructure Limited, and Universal Sompo.
Pantomath Capital Advisors Private Limited and Sumedha Fiscal Services are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
Regaal Resources’ business
Regaal Resources is engaged in manufacturing maize-based speciality products such as native maize starch, modified starch, value-added products like maize flour, custard powder, and baking powder and co-products such as gluten, germ, and enriched fibre.