Regaal Resources IPO Soars: A Stellar Market Debut

Regaal Resources Ltd, a burgeoning name in the maize-based product industry, made a remarkable entry into the stock market with its shares closing 29% higher than the issue price at the BSE and NSE. The initial price was set at Rs 102, and the shares began trading at Rs 141.80 on the BSE, marking a 39% increase.

The stock witnessed a peak of Rs 145.70 during the day's trading and ultimately settled at Rs 131.65 on the BSE and Rs 131.58 on the NSE. The impressive market debut has propelled the company's valuation to Rs 1,352.35 crore.

The IPO of Regaal Resources, which attracted heavy investor demand, was oversubscribed 159.88 times. Led by this overwhelming support, the Rs 306 crore IPO consisted of a fresh issue valued at Rs 210 crore and an Offer For Sale of 94.12 lakh shares by promoters.

(With inputs from agencies.)