IPO
Maize starch maker Regaal Resources’ Rs.306-Cr IPO oversubscribed 160 times
The INR 306 crore initial public offering (IPO) of Kolkata-based starch manufacturer Regaal Resources was booked 159.88 times. The IPO received bids for 3,35,73,63,312 shares as against 2,09,99,664 shares on offer. It is a combination of a fresh issue of INR 210 crore and an offer for sale (OFS) of INR 96.00 crore.The retail portion of the IPO was subscribed 57.75 times, the non-institutional investor (NII) portion, 356.73 times, and the qualified institutional buyer (QIB) portion, 190.97 times.Established in 2012, Regal Resources makes maize starch and modified starch; co-products - such as gluten, germ, enriched fibre, and fibre; and food-grade starches - including maize flour, icing sugar, custard powder, and baking powder.
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