Market News
3 min read | Updated on March 15, 2024, 17:09 IST
SUMMARY
Royal Sense will finalise the basis of IPO share allotment today, March 15, and start refunds for non-allottees on March 18. The company's shares are tentatively scheduled to be listed on BSE on March 19.
Royal Sense IPO share allotment likely to be finalised on March 15: Follow these steps to check status online
Royal Sense IPO share allotment is expected to be finalised on Friday, March 15, after the public issue closed with a decent response from the investors.
The initial public offer was subscribed 8.64 times during the three-day bidding window, which closed on Thursday, March 14. The company is looking to raise ₹9.86 crore through the public issue.
Royal Sense Ltd public offer, a fresh equity issue of 14.5 lakh shares, received bids for 1,11,54,000 shares against 12,90,000 shares on offer, as per BSE data. Retail individual investors (RIIs) subscribed the issue 7.32 times of the shares reserved for them. The non-institutional investors’ (NIIs) category was booked over 10 times of the allotted quota.
Royal Sense IPO subscribers can check the allotment status of shares through the official BSE website and the IPO registrar's portal. Bigshare Services Pvt Ltd is the registrar to the public issue.
Successful bidders can check the number of shares allotted to them, as well as see the number of shares they originally applied for once the company finalises the allocation.
After the allotment is finalised, the company will initiate refunds on Monday, March 18, for those who have not been allotted shares, and also credit the IPO shares to the Demat accounts of successful applicants on the same day.
The shares of the company will be listed on the BSE SME platform, with the tentative listing date set for Tuesday, March 19.
Royal Sense IPO price was fixed at ₹68 per share, with a minimum lot size of 2,000 shares. Retail investors were allowed to bid for at least a single aggregating to a minimum investment of ₹1,36,000.
High net worth individuals are required to invest in at least 2 lots, or 4,000 shares, necessitating a minimum investment of ₹2,72,000.
Of the total offer size, 6,45,000 (44.48%) shares were reserved for NIIs and an equal amount of shares for retail investors. The market maker's portion was fixed at 160,000 (11.03%)shares. There was no anchor portion earmarked in the IPO.
The company will use the IPO net proceeds for working capital requirements, issue expenses and other general corporate purposes.
Established in 2023, Royal Sense Limited is a supplier of medical disposables, diagnostic kits, laboratory equipment, surgical instruments, surgical consumables and laboratory reagents, among others.
Royal Sense Ltd supplies its products to the health ministries of various states such as UP, Himachal Pradesh, Rajasthan, and Jammu and Kashmir. Additionally, the company provides products to various government institutions and private healthcare facilities and hospitals nationwide.
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