Resourceful Automobile IPO booked 420 times on the last day; check allotment status and listing date

Resourceful Automobile IPO ended subscription on a high note, getting booked 419.87 times on the final day of bidding on Monday, August 26. Investors submitted bids for more than 40.76 crore shares against 9.73 lakh shares on offer.

Resourceful Automobile Ltd, which operates just two conceptual Yamaha showrooms in New Delhi, received an overwhelming response from investors. The company received bids for shares worth ₹2,700 crore at the end of the subscription.

Resourceful Automobile IPO subscription was led by a strong retail demand. Retail investors submitted bids for 24.14 crore shares against 4.86 lakh shares on offer, resulting in an oversubscription of 496.22 times.

Non-institutional investors applied for over 15.36 crore shares against 4.86 lakh shares set aside for the category, booking their portion 315.71 times.

Qualified Institutional Buyers (QIBs) submitted bids for 1.25 crore shares.

Resourceful Automobile IPO offer size and price band

Resourceful Automobile IPO is a fixed-price offering worth ₹11.99 crore. The IPO consists of a fresh issue of 10.25 lakh shares offered at ₹117 per piece.

Resourceful Automobile Limited IPO dates

Resourceful Automobile Limited's initial public offering window closed for bidding on August 26.

The IPO allotment status is expected to be resolved on Tuesday, August 27. This will be followed by the initiation of refunds for non-allottees and the credit of shares into the demat accounts of successful bidders on August 28. The company's shares are expected to be listed on the BSE SME platform on August 29.

Resourceful Automobile Limited IPO registrar

Cameo Corporate Services Limited is the registrar of Resourceful Automobile's initial public offering (IPO), whereas Swastika Investmart Limited is the book-running lead manager. The market maker for the Resourceful Automobile IPO is Nikunj Stock Brokers.

Resourceful Automobile Limited IPO objective

The Yamaha two-wheeler seller intends to use the net proceeds from the offering to fund various key activities, including opening new showrooms in Delhi/NCR, repaying existing debt and meeting incremental working capital requirements.

About Resourceful Automobile Limited

Resourceful Automobile Limited, founded in August 2018, operates under the brand name "Sawhney Automobile". The company operates premier dealerships of Yamaha two-wheelers.

They offer a diverse selection of bikes and scooters to meet various customer needs, including commuter bikes, sports bikes, cruisers, and scooters.