Regaal Resources IPO Day 3 Live: Regaal Resources Ltd, which produces specialized maize-based products, recorded a subscription rate of 26.40 times on the second day of bidding, according to BSE data. The Non-Institutional Investors segment saw a subscription rate of 67.76 times, while the Retail Individual Investors (RIIs) section was subscribed 21.85 times. The Qualified Institutional Buyers (QIBs) category had a subscription rate of 3.36 times.
The subscription status for Regaal Resources IPO was at 5.94 times on the first day, Tuesday.
On Monday, Regaal Resources Ltd secured around ₹92 crore from its anchor investors. Regaal Resources IPO price band has been established between ₹96-102.
Regaal Resources IPO consists of a fresh issue of shares amounting to ₹210 crore and an offer-for-sale of 94.12 lakh shares valued at ₹96 crore from the promoters, bringing the total issue size to ₹306 crore at the higher end of the price range.
After the offering, the promoters’ stake will decrease to approximately 71 percent from the current 100 percent.
From the proceeds of the fresh issue, ₹159 crore is designated for the repayment or pre-payment of certain borrowings.
Regaal Resources runs a maize milling facility that achieves zero liquid discharge, catering to industries such as food products, paper, animal feed, and adhesives throughout India, as well as in export markets including Nepal and Bangladesh.
(Stay tuned for more updates)
