Royal Sense initial public offerings (IPO) opened for subscription on March 12. The small and medium enterprise (SME) IPO received a moderate response from investors on the first day of bidding. The SME issue was subscribed over 0.71 times, meanwhile, retail portion was fully booked on Tuesday.
The Royal Sense IPO offers 645,000 shares or 44.48% to NII and 645,000 or 44.48% to retail investors.
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Established in 2023, Royal Sense Limited specializes in the provision of a wide range of products including Medical Equipment, Surgical Instruments, Surgical Consumables, Laboratory Equipment, Laboratory Reagents, Medical Disposables, and Diagnostic Kits.
The company distributes its products to the Ministry of Health Departments in several states including Uttar Pradesh, Himachal Pradesh, Rajasthan, and Jammu & Kashmir, as well as directly within these regions through a network of distributors and sub-dealers. Additionally, the company extends its product supply to government institutions and private hospitals nationwide.
Royal Sense IPO subscription status
The Royal Sense IPO was subscribed over 0.71 times on the first day of bidding on March 12. The SME IPO received 9,18,000 share application against offered 12,90,000 shares on Tuesday.
The retail portion received 8,24,000 shares against offered 6,45,000 applications, meanwhile, non-institutional category received 94,000 applications against 6,45,000 shares, on the first day of bidding.
Royal Sense IPO details
The bidding for the Royal Sense IPO started on March 12, 2024, and will end on March 14, 2024. This offering constitutes a fixed price issue amounting to ₹9.86 crores. Notably, the issue comprises solely a fresh issue of 14.5 lakh shares.
Retail investors have the option to bid for a minimum of 2000 shares, with the opportunity to increase their bid in multiples of this quantity. The minimum investment threshold for retail investors stands at ₹136,000.
The company proposes to utilize the net proceeds from the issue towards the working capital requirement, issue expenses and general corporate purposes.
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The allotment for the Royal Sense IPO is anticipated to be concluded by Friday, March 15, 2024. Royal Sense IPO is set to be listed on BSE SME, with a tentative listing date scheduled for Tuesday, March 19, 2024.
Expert Global Consultants Private Limited serves as the book running lead manager for the Royal Sense IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the issue. Rikhav Securities has been designated as the market maker for the Royal Sense IPO.
Royal Sense IPO GMP today
The Royal Sense IPO is currently unavailable in the grey market premium, which means that the shares of the SME IPO is trading at a premium of ₹0 in the grey market.
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Published: 12 Mar 2024, 08:49 PM IST