Regaal Resources's IPO sees 26.38x demand on Day 2
Regaal Resources's IPO is turning heads this week, with investor demand shooting up to 26.38 times the available shares by Day 2.
The ₹306 crore offer includes a fresh issue of ₹210 crore and an offer-for-sale, priced between ₹96 and ₹102 per share.
Promoters will see their stake drop to about 71% after the listing.
Debt repayment to consume most of the funds
Non-Institutional Investors (NIIs) led the charge, subscribing nearly 68 times their quota, while retail investors followed at almost 22 times. Qualified Institutional Buyers (QIBs) joined in too, though at a lower rate.
Before opening up to the public, Regaal Resources raised ₹92 crore from anchor investors.
Most of the funds will go toward paying off debt as the company continues supplying maize-based specialty products across India—and even exports to Nepal and Bangladesh.