Royal Sense IPO: Issue subscribed 8.52 times on day 3, NIIs bid highest; check GMP and other details

Royal Sense initial public offerings (IPO) opened for subscription on March 12. The small and medium enterprise (SME) IPO received a strong response from investors on the third and last day day of bidding. The SME issue was subscribed over 8.5 times on Thursday. Royal Sense IPO offers 645,000 shares or 44.48 per cent to non institutional investors (NIIs) and 645,000 or 44.48 per cent to retail investors.

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Established in 2023, Royal Sense Limited specializes in the provision of a wide range of products including Medical Equipment, Surgical Instruments, Surgical Consumables, Laboratory Equipment, Laboratory Reagents, Medical Disposables, and Diagnostic Kits.

The company distributes its products to the Ministry of Health Departments in several states including Uttar Pradesh, Himachal Pradesh, Rajasthan, and Jammu & Kashmir, as well as directly within these regions through a network of distributors and sub-dealers. Additionally, the company extends its product supply to government institutions and private hospitals nationwide.

Royal Sense IPO subscription status

The Royal Sense IPO was subscribed over 8.5 times on the third and final day of bidding. The SME IPO received 1,09,94,000 share application against offered 12,90,000 shares on Thursday. The portion reserved for retail investors was booked 7.32 times and the NIIs' portion was booked 9.72 times.

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The issue was subscribed over 1.53 times on the second day of bidding. On the second day, the retail category received 18,34,000 shares, NII received 1,38,000 share applications, according to data available on BSE. 

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

Royal Sense IPO details

The bidding for the Royal Sense IPO started on March 12, 2024, and ended on March 14, 2024. This offering constitutes a fixed price issue amounting to ₹9.86 crore. Notably, the issue comprises solely a fresh issue of 14.5 lakh shares.

Retail investors have the option to bid for a minimum of 2,000 shares, with the opportunity to increase their bid in multiples of this quantity. The minimum investment threshold for retail investors stands at ₹136,000.

The company proposes to utilize the net proceeds from the issue towards the working capital requirement, issue expenses and general corporate purposes.

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The allotment for the Royal Sense IPO is anticipated to be concluded by Friday, March 15, 2024. Royal Sense IPO is set to be listed on BSE SME, with a tentative listing date scheduled for Tuesday, March 19, 2024.

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

Royal Sense IPO GMP today

The Royal Sense IPO is currently unavailable in the grey market premium, which means that the shares of the SME IPO is trading at a premium of Re 0 in the grey market.