Regaal Resources IPO Day 2 Live: Regaal Resources Ltd, which manufactures specialty products from maize, registered a subscription rate of 5.94 times on the first day of its initial public offering (IPO) on Tuesday.
The Non-Institutional Investors segment achieved a subscription rate of 10.77 times, while the Retail Individual Investors (RIIs) portion was subscribed 5.58 times. The Qualified Institutional Buyers (QIBs) category received 2.94 times subscription.
On Monday, Regaal Resources Ltd raised approximately ₹92 crore from its anchor investors.
Regaal Resources IPO price band has been set in the range of ₹96-102.
Regaal Resources IPO includes a fresh issue of shares valued at ₹210 crore and an offer-for-sale of 94.12 lakh shares worth ₹96 crore from promoters, totaling the issue size to ₹306 crore at the higher end of the price range.
Post-offering, the promoters’ ownership will decline to around 71 percent from the current 100 percent.
Out of the proceeds from the fresh issue, ₹159 crore will be allocated for the repayment or pre-payment of specific borrowings.
Regaal Resources operates a maize milling facility that ensures zero liquid discharge, serving customers in sectors such as food products, paper, animal feed, and adhesives across India, as well as in export markets like Nepal and Bangladesh.
(Stay tuned for more updates)
