Resourceful Automobile IPO Subscribed 418.82 Times!

Resourceful Automobile IPO closed on 26th August 2024. Shares of the IPO are likely to be listed on 29th August 2024 and will make a trading debut on the BSE SME platform.

Resourceful Automobile IPO Receives Massive Interest, Subscribed 418.82 Times. The public issue saw an impressive 496.22 times subscriptions in the retail category and 315.61 times in the NII category by August 26, 2024, 5:39:08 PM.

Subscription Status of Resourceful Automobile IPO for Days 1,2 and 3:

On day 1, Resourceful Automobile IPO was subscribed 10.35 times; on day 2, it rose to 74.13 times. On day 3, it reached 418.82 times.

The Resourceful Automobile IPO saw significant demand, primarily driven by Retail investors, followed closely by (HNIs/NIIs). While there was no participation from Qualified Institutional Buyers (QIBs) as of Day 3, the strong interest from HNIs and retail investors highlights their confidence in the IPO. 

The overall subscription figures reflect robust interest but do not account for any anchor portion or the market-making segment. QIBs include major institutions like mutual funds, whereas HNIs are wealthy individuals and smaller institutions.

Here are the complete subscription details for the Resourceful Automobile IPO by category as of Day 3 (26th August 2024 at 5:39:08 PM):

About Resourceful Automobile Limited

Founded in 2018, Resourceful Automobile Limited markets Yamaha two-wheelers under the “Sawhney Automobile.” Sawhney Automobile presents a wide array of two-wheelers tailored to satisfy various customer demands and preferences. The offerings include commuter bikes, sports bikes, cruisers, and scooters from reputable manufacturers.

Currently, the company operates two conceptual showrooms, each featuring an attached workshop. The Blue Square showroom in Dwarka, New Delhi, showcases the full range of Yamaha two-wheelers, apparel, and accessories. 

The second showroom, on Palam Road in New Delhi, provides a diverse selection of high-quality and distinctive two-wheelers, including the latest models from Yamaha India and an assortment of motorcycles. As of July 31, 2024, the company had eight permanent employees.

Highlights of the Resourceful Automobile IPO

● IPO price band: ₹117per share.
● Minimum application lot size: 1200 shares.
● Minimum investment for retail investors: ₹140,400.
● Minimum investment for High Net-worth Investors (HNI): 2 lots (2,400 shares), ₹280,800.
● Registrar: Cameo Corporate Services Limited.