The recent initial public offering (IPO) of Regaal Resources Limited, a prominent manufacturer of maize-based specialty products, has captured significant attention in the Indian financial markets. Concluding its subscription period on August 14, 2025, the Regaal Resources IPO witnessed an overwhelming response from all investor categories, showcasing strong confidence in the company’s growth trajectory and business model.
The ₹306 crore public issue was open for subscription from August 12 to August 14, 2025. This IPO comprised a fresh issue of 2.06 crore shares, raising ₹210 crores, alongside an Offer for Sale (OFS) of 0.94 crore shares, amounting to ₹96 crores. Priced within a band of ₹96 to ₹102 per share, with a face value of ₹5 per share, the offering was structured to attract a wide range of investors.
Key Dates for the Regaal Resources IPO
For investors keeping a close watch, here’s a quick overview of the essential dates related to the Regaal Resources IPO:
| Parameter | Date / Detail |
|---|---|
| IPO Open Date | August 12, 2025 |
| IPO Close Date | August 14, 2025 |
| Basis of Allotment Finalization | August 18, 2025 |
| Refund Initiation Date | August 19, 2025 |
| Share Credit Date | August 19, 2025 |
| Listing Date | August 20, 2025 (Tentative) |
A Closer Look at the Subscription Figures
The sheer scale of oversubscription for the Regaal Resources IPO underlines the market’s robust appetite for quality offerings. As per official data released, the IPO was subscribed a staggering 159.88 times overall. This means that against 21 million shares on offer, bids were received for approximately 3.35 billion shares. Retail investors, with a minimum investment of about ₹14,688 for a lot of 144 shares at the upper price band, also participated enthusiastically. Such strong subscription figures often signal positive sentiment ahead of listing, as observed by market analysts.
Here’s a detailed breakdown of the category-wise subscription:
| Investor Category | Subscription Times |
|---|---|
| Non-Institutional Investors (NIIs) | 356.73x |
| Qualified Institutional Buyers (QIBs) | 190.97x |
| Retail Individual Investors (RIIs) | 57.75x |
| Overall Subscription | 159.88x |
| Day 3 Overall Subscription | 68.33x |
Notably, Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) showed exceptionally high interest, subscribing 190.97 times and 356.73 times, respectively. Retail Individual Investors (RIIs) also demonstrated strong demand, with their portion being subscribed 57.75 times. The overall subscription on Day 3 itself had reached 68.33 times.
Company Snapshot and Financial Health
Regaal Resources Limited stands as a significant player in the maize-based specialty products sector, boasting a crushing capacity of 750 tonnes per day. The company’s robust financial performance for the fiscal year ending March 31, 2025 (FY25) was a key factor in attracting investors. Regaal Resources reported revenues of ₹917.6 crore, marking an impressive 53% year-on-year growth. Furthermore, its net profit more than doubled, reaching ₹47.7 crore in FY25. The company caters to a strong client base, including industry giants like Emami Paper Mills, Century Pulp & Paper, and Genus Paper Board, and also engages in exports to Nepal and Bangladesh.
A substantial portion of the IPO proceeds, specifically ₹159 crore, is earmarked for repaying or prepaying existing borrowings, which stood at ₹561.153 crore as of June 30, 2025. The remaining funds will be utilised for general corporate purposes. It is important for investors to note the changes in promoter shareholding post-offer, as detailed in the company’s regulatory filings:
- Anil Kishorepuria: reduced from 34.4% to 24.5%
- Shruti Kishorepuria: reduced from 37.1% to 27.5%
- Promoter BFL: reduced from 17.9% to 11.8%
- Promoter group SRM: reduced from 8.8% to 5.5%
Market Buzz and Listing Expectations
The Grey Market Premium (GMP) for Regaal Resources has been robust, ranging from ₹25 to ₹35, which translates to a premium of 25% to 34% over the upper price band of the IPO. This strong GMP has fueled expectations for a positive debut on the bourses. The estimated listing price, based on market indicators, is around ₹128 per share, suggesting good potential gains for allottees.
Prior to the main IPO, Regaal Resources successfully raised ₹91.79 crore from anchor investors on August 8, 2025, further solidifying investor confidence. With the basis of allotment finalised on August 18, 2025, shares were credited to demat accounts on August 19, 2025. The company is now all set for its tentative listing on August 20, 2025, on both the BSE and NSE, marking a significant milestone for the maize specialty products manufacturer.
Conclusion
The overwhelming subscription for the Regaal Resources IPO, combined with strong financials and a clear strategy for debt reduction, positions the company for a promising market debut. The high demand from institutional and retail investors alike reflects the underlying strength of the company’s business and its potential for future growth. All eyes will now be on August 20, 2025, as Regaal Resources aims to make a impactful entry onto the Indian stock e
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