Royal Sense IPO subscription

The small and medium enterprise (SME) IPO received a strong response from investors on the third day of bidding and was subscribed over 8.5 times as it received 1,09,94,000 share application against offered 12,90,000 shares. The portion reserved for retail investors was booked 7.32 times and the NIIs’ portion was booked 9.72 times on the day, as per data on BSE. On the second day, the issue was subscribed over 1.53 times while on the first day, the retail portion received 8,24,000 shares against offered 6,45,000 applications. 

Royal Sense IPO details

The IPO amounted to ₹9.86 crore and the issue comprised solely a fresh issue of 14.5 lakh shares. In the issue, retail investors had the option to bid for a minimum of 2,000 shares. The minimum investment threshold for retail investors stood at ₹136,000. Through the IPO, the company aims to use net proceeds for working capital requirement, issue expenses and general corporate purposes, it said. 

The book running lead manager for the Royal Sense IPO is Expert Global Consultants Private Limited while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker of the IPO is Rikhav Securities. 

Royal Sense IPO GMP on March 18

Royal Sense SME IPO GMP today is ₹37. As the price band of the IPO was at ₹68, the estimated listing price is ₹105 and expected percentage gain/loss per share is 54.41% as per investorgain.com.