Royal Sense IPO: Issue subscribed more than 1.53 times on second day, retail portion fully booked; Check GMP and other details

Royal Sense's initial public offering (IPO) opened for subscription on March 12. The IPO of small and medium-sized enterprises (SMEs) received a lukewarm response from investors on the first day of bidding. The SME issue was subscribed more than 0.71 times while the retail portion was fully booked on Tuesday.

The Royal Sense IPO offers 645,000 shares or 44.48% to NII and 645,000 or 44.48% to retail investors.

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Established in 2023, Royal Sense Limited specializes in providing a wide range of products including medical devices, surgical instruments, surgical consumables, laboratory equipment, laboratory reagents, medical disposables and diagnostic kits.

The company distributes its products to the health ministries in several states, including Uttar Pradesh, Himachal Pradesh, Rajasthan and Jammu & Kashmir, as well as directly in these regions through a network of distributors and sub-distributors. The company is also expanding its product offerings to government institutions and private hospitals across the country.

Royal Sense IPO subscription status

Royal Sense's IPO was subscribed more than 1.53 times on the second day of bidding on March 13. For SME's IPO, 19,72,000 shares were applied for against 12,90,000 shares offered on Wednesday.

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On the second day, the retail category received 18,34,000 shares while NII received 1,38,000 share applications, according to data available on BSE.

On the first day, the retail section received 8,24,000 shares against 6,45,000 applications offered, while the non-institutional category received 94,000 applications against 6,45,000 shares on the first day of the bidding.

Royal Sense IPO details

The Royal Sense IPO offering commenced on March 12, 2024 and closes on March 14, 2024. This offering is a fixed price issue of ₹9.86 crores. Notably, the issue is entirely a fresh issue of shares worth ₹14.5 lakh.

Private investors have the opportunity to bid for at least 2,000 shares and increase their bid by a multiple of this amount. The minimum investment threshold for private investors is ₹136,000.

The Company intends to use the net proceeds from the offering for working capital requirements, offering expenses and general corporate purposes.

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Allotment for Royal Sense's IPO is expected to be completed by Friday, March 15, 2024. Royal Sense's IPO is expected to be listed on the BSE SME, with a preliminary IPO scheduled for Tuesday, March 19, 2024.

Expert Global Consultants Private Limited is acting as the book running lead manager for the IPO of Royal Sense, with Bigshare Services Pvt Ltd appointed as the registrar for the issue. Rikhav Securities has been appointed as market maker for Royal Sense IPO.

Royal Sense IPO GMP today

The Royal Sense IPO is not currently available on the gray market at a premium, meaning the shares in the SME IPO are trading at a premium ₹0 on the gray market.

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