Royal Sense IPO: Issue subscribed over 0.71 times on day 1, retail portion fully booked; check GMP and other details
Vishal Mega Mart plans $1 billion IPO, investment banks to pitch this week: Report 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.
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. Also read: Signoria Creation IPO: Issue fully subscribed on Day 1 with retail support; check latest GMP, review, more 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.
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
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