The IPO opened on August 22 and closed on August 26. This is an SME IPO, through which the company is raising Rs 11.99 crore. The company's IPO received tremendous support from investors, which could not have been imagined.
The company, which operates 2 Yamaha motorcycle showrooms in Delhi, has a total of 8 employees and its IPO was oversubscribed by around 400 times. This is the reason why resourceful automobile IPO is in discussion.
Shares of the company are in high demand in the gray market due to strong support from investors. According to websites that track share GMP, Resourceful Automobile's share GMP has been steadily increasing.
On Wednesday, August 28, the company's shares traded at Rs. Trading with a GMP of 105. While the shares of the company were trading at a premium of Rs.90 in the gray market on Tuesday, August 27.
Let us tell you that under its IPO, the company had fixed a price band of Rs 117 for each share with a face value of Rs 10. To apply for this IPO investors need to invest a minimum of Rs. 1,40,400 had to be invested, in which they were to be given 1200 shares in one lot. Investors were allotted shares on Tuesday, August 27th.
On August 28, the shares were deposited in the demat account of the investors. Let us tell you that in this IPO of Rs 11.99 crore, the company has announced a total of 10,24,800 new shares.
For this Rs 11.99 crore IPO, investors bid for Rs 4700 shares. The company may list on BSE SME on Thursday, August 29.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.
