Regaal Resources made a strong debut on the stock market this Wednesday, August 20, giving investors strong gains right out of the gate. The company shares opened at rupees ₹141 on NSE, making a 38.24% Jump above the IPO price of ₹102. On BSE, the listing was even stronger, starting at ₹141.80, a remarkable 39% premium. This impressive start makes Regal Resources one of the month’s most exciting listings.
Listing Day performance
After the earlier excitement, some profit-taking kicked in. By 11:30 a.m., the share price settled at ₹135.40 on the BSE, down about 6.4% from its opening rate. Still, for anyone who got in IPO price, the stock remains at a solid 32.75% premium even after this dip.
IPO subscription rush.
The company’s ₹306 crores IPO was in huge demand, enjoying overwhelming interest across all investor categories. During the 3-day subscription window between August 12 and 14, the issue was subscribed to a huge 159.87 times. Retail investors bid 57.75 times while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) subscribed 190.96 times and 356.72 times, respectively.
Grey market buzz and Anchor investment.
Before shares hit the market, the IPO’s grey market premium stood at ₹31, suggesting an expected listing gain of about 30.39%. The prediction turned out to be very close to the debut day gain. Regal Resources also reached ₹91.80 crores from anchor investors just before the IPO opened. Share allotments were finalised on August 18.
About Regal Resources
Based in Kolkata, Regal Resources Limited is among India’s largest agriculture processing companies. They produce a range of speciality products from maize, including gluten, maize oil, and various starches. The company began as Regal Resources Private Limited in January 2012, later becoming Regal Resources Limited.