Royal Sense IPO listing: Shares make stellar debut, list at 90% premium to issue price

Royal Sense made a stellar market debut on Tuesday, March 19, as the shares opened at a premium of 90% on the BSE SME platform. Royal Sense Ltd shares listed at ₹129.2 compared to the IPO issue price of ₹68, marking a huge premium of 90%.

Nearly 3.16 lakh shares of the company changed hands in the first one hour of the listing of the share on BSE. The traded value stood at over ₹4.02 crore, BSE data showed.

However, after listing Royal Sense shares dropped 5% to a low of ₹122.74 apiece amid heavy selling pressure.

Royal Sense's market capitalisation stood at ₹60.14 crore, which shows investors gained immensely from the IPO post-listing.

During the bidding stage, Royal Sense IPO received a strong response from investors, being subscribed over 8.62 times. The public offer garnered bids for 1,11,54,000 shares against 12,90,000 shares on offer. The portion allocated for retail investors was subscribed 7.32 times, and the NIIs' portion was booked 10 times, as per BSE data.

Royal Sense IPO price band was fixed at ₹68 per share. The IPO subscription was open from March 12 to March 14.

Royal Sense IPO, a fixed-price issue worth ₹9.86 crore, comprised only a fresh issue of 14.5 lakh shares. The minimum lot size for a retail applicant was 2,000 shares, requiring ₹1,36,000 investment.

Of the 14.5 lakh shares offered for subscription under the IPO, 6.45 lakh (44.48%) shares were reserved for NIIs, and an equal number of shares were allocated for retail investors. The market maker's portion was fixed at 1.6 lakh (11.03%) shares. There was no anchor portion earmarked in the IPO.

Royal Sense has plans to use the net proceeds of the IPO to meet working capital requirements, expenses, and general corporate purposes.

About Royal Sense Ltd

Royal Sense Limited supplies products like medical disposables, laboratory equipment, diagnostic kits, surgical instruments, surgical consumables, laboratory reagents, etc.

The company supplies its products to the health ministries of various states and Union Territories like Uttar Pradesh, Rajasthan, Himachal Pradesh, and Jammu & Kashmir. The supply of products takes place through distributors and sub-dealers. Also, the company supplies its products to several government institutions as well as private healthcare facilities and hospitals across the country.

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