Regaal Resources IPO subscribed over 19 times so far day 2: Check price band, lot size and key dates

Regaal Resources IPO day 2: Maize-based speciality products maker Regaal Resources Ltd's initial public offering has been booked over 19 times so far on the second day of subscription on Wednesday, August 13.

The initial share sale, which aims to raise ₹306 crore, consists of new equity shares worth ₹210 crore and an offer for sale of ₹96 crore by promoters Shruti Kishorepuria, Anil Kishorepuria, BFL Pvt Ltd and SRM Pvt Ltd.

The net proceeds from the fresh issuance of shares will be utilised for general corporate purposes and debt repayment.

The price band is fixed at ₹96 to ₹102 per share, and a lot consists of 144 shares.

Regaal Resources IPO day 2: Subscription details

The issue got bids for 40,94,78,832 shares against 2,09,99,664 shares on offer, translating to a 19.50 times subscription, according to NSE data until 2:40 pm on the second day of bidding on August 13.

Non-institutional investors' part attracted 46.15 times subscription, while the quota for retail investors got subscribed 17.41 times. The qualified institutional buyers category received 3.16 times the subscription.

Before the IPO, the company had raised ₹91.79 crore in the anchor round from investors such as Taurus Mutual Fund, Benami Capital, VPK Global Ventures Fund, Meru Investment Fund PCC-Cell 1, Holani Venture Capital Fund, Sunrise Investment Opportunities Fund and Authum Investment and Infrastructure Fund.

Regaal Resources' IPO allotment will be finalised on August 18, while the listing of shares on the NSE and BSE will occur on August 20.

Regaal Resources is a leading producer of maize-based products, operating a zero liquid discharge maize milling plant serving customers in paper, food products, animal feed and adhesives in domestic and export markets such as Bangladesh and Nepal.

Regaal Resources IPO GMP

According to media reports and investorgain.com, the unlisted shares of Regaal Resources are trading at ₹134 per share, reflecting a grey market premium of 31.37% over the upper price band of ₹102.