Regaal Resources Ltd's IPO Soars: A Promising Start in the Market

Shares of Regaal Resources Ltd, known for its maize-based speciality products, made a striking debut on Wednesday with a 39% premium over its issue price of Rs 102. The stock began trading at Rs 141.80 on the BSE, later escalating to Rs 145.70, marking a 42.84% increase.

On the NSE, the stock opened at Rs 141, a commendable rise of 38.23%. The company's current market valuation stands at a robust Rs 1,377.52 crore. The IPO, closed last Thursday, attracted massive investor interest, being oversubscribed by an impressive 159.88 times.

The Rs 306 crore Initial Public Offer included a fresh issue of Rs 210 crore alongside an Offer For Sale component priced at Rs 96 crore. Proceeds will be directed towards reducing debt, with Regaal Resources utilizing its zero liquid discharge maize milling facility to serve both domestic and international markets.

(With inputs from agencies.)