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Dalal Street seems to have got a new talking point. Regaal Resources, the maize-based products company, made a smashing debut on the bourses today, listing nearly 39 per cent above its issue price. The euphoria was visible, with the IPO subscribed close to 160 times. But once the dust settles, can the rally sustain?
What’s happening?
The Rs 306-crore Regaal Resources IPO saw huge demand. Retail bids came in 58 times the quota, while institutions lapped it up over 190 times. On listing day, shares opened at Rs 141 on NSE, well above the issue price of Rs 102.
On BSE, the stock went live at Rs 141.8, later cooling off to Rs 135.65 (as of 11:25 am).
About Regaal Resources
Regaal isn’t a household name yet, but it’s carved a niche in maize derivatives. From starch and gluten to germ and flour, its products are used in various industries, including food, paper, textiles and even animal feed. The company has a 54-acre zero-liquid-discharge plant in Bihar and exports to Nepal and Bangladesh.
More to follow…
Disclaimer: This article was crafted with the aid of artificial intelligence and meticulously reviewed and edited by our human experts to ensure accuracy and provide valuable insights. It's intended for informational purposes only. We encourage you to conduct your own thorough research before making any investment decisions.
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