Issue subscribed 159.88 times on the back of all-round participation
MUMBAI, Aug 14 (The CONNECT)- The Initial Public Offering of Regaal Resources Limited was subscribed 159.88 times on the final day of bidding, today.
The issue received bids of 3,35,73,63,312 shares against the offered 2,09,99,664 equity shares, at a price band of ₹96-102, according to the data available on the stock exchanges.
Non-Institutional Investors Portion and Qualified Institutional Buyer were subscribed 356.73 times and 190.97 times respectively, whereas Retail Portion was subscribed 57.75 times.
Pantomath Capital Advisors Private Limited and Sumedha Fiscal Services are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
Company Information
Regaal Resources, headquartered in Kolkata is one of the largest manufacturers of maize based specialty products in India, in terms of crushing capacity, with a total installed crushing capacity of 750 tonnes per day (TPD), according to F&S report. It is one of the largest manufacturers of maize based specialty products in India, in terms of crushing capacity, with a total installed crushing capacity of 750 tonnes per day (TPD).
It manufactures native maize starch and modified starch – a plant-based natural starch that is produced from maize; co-products – includes gluten, germ, enriched fiber and fiber; and value- added products – food grade starches such as maize flour, icing sugar, custard powder and baking powder.
It caters to domestic and international customers across diverse industries including food products, paper, animal feed, and adhesives. Its business model is structured around catering to 3 broad segments of customers viz.,Manufacturers of end products; Manufacturers of intermediate products; and Distributors / Wholesale traders.
It has a manufacturing plant with zero liquid discharge (ZLD) maize milling plant (Manufacturing Facility) located in Kishanganj, Bihar, with key export markets i.e. Nepal and Bangladesh.
The company’s prominent customers include Emami Paper Mills Limited, Manioca Food Products Private Limited, Century Pulp & Paper, Kush Proteins Private Limited, Shri Guru Oil Industries, Mayank Cattle Food Limited, Aarnav Sales Corporation, AMV Sales Corporation, Eco Tech Papers, Genus Paper Board Private Limited, Krishna Tissues Private Limited, Maruti Papers Private Limited, and M/s Vasu and Sons.
