Retaggio Industries IPO fully subscribed on day 3; check lot size and key dates

Retaggio Industries IPO: The ₹15.5-crore BSE SME initial public offer of Retaggio Industries Ltd was fully subscribed on Tuesday, the third day of bidding.

The IPO was subscribed 1.01 times on April 1 until 11:33 pm, while the retail quota was booked 1.16 times. The NIIs subscribed their segment 86%.

Shares in the IPO are being offered at ₹25 apiece in a lot size of 6,000 units, requiring an investment of ₹1,50,000. For high-net-worth individuals, the minimum investment is ₹3,00,000 for 12,000 shares.

The initial share sale is a fresh issue of 61.98 lakh shares with no offer-for-sale component.

The net proceeds to the tune of ₹1.9 crore will be used for repayment of debt facilities and ₹11.5 crore for working capital needs.

Retaggio Industries IPO: Allotment and listing date

Bidding will close on April 2. The allotment of shares is expected to be finalised on April 3. The refund for non-allottees will be initiated on April 4, while shares will be credited to the Demat account of successful investors on the same day.

Retaggio Industries shares are scheduled to be listed on the BSE SME platform on April 7.

Gretex Corporate Services Ltd is the issue's lead manager, while Bigshare Services Pvt Ltd is the registrar. The market maker is Gretex Share Broking Pvt Ltd.

Nidhi Lodha, Savinay Lodha, and Retaggio Trading Services LLP are the company's promoters, holding 99.99% of shares. Their shareholding will be reduced to 60.18% post-issue.

About Retaggio Industries

Established in 2022, Retaggio Industries is a jewellery manufacturer specialising in gold, diamond, precious gems, and bullion. It offers a wide range of products to meet the needs of diverse customer segments.

The company's revenue from operations surged 0.91% to ₹23.28 crore in the financial year 2023-24, compared to ₹23.07 crore a year back.

The net profit surged 8% to ₹3.34 crore in FY24 as against ₹3.09 crore in the previous fiscal.