Regal Resources IPO: Day 3 Subscription Status, GMP, and Allotment Chances Explained
This article delves into the Regal Resources IPO, providing a detailed overview of its Day 3 subscription status. We will explore the impressive subscription figures, especially from Qualified Institutional Buyers (QIBs) in the final hours, and analyze what this means for potential listing momentum and allotment chances. Additionally, we will discuss the recent fluctuations in the Grey Market Premium (GMP) and the factors contributing to these changes.
Regal Resources IPO at a Glance
The Regal Resources IPO opened for subscription on August 12th, with the second day for applications being August 13th, and today marking the final day for investors to apply. For those using a UPI ID, applications were accepted if the mandate was approved by 5 PM. Net banking applications needed to be completed before the specified cut-off time.
The cut-off price for the IPO was set at ₹12. Allotment is expected for those who applied at this ₹12 cut-off price for a minimum of 144 equity shares per lot. However, applications selecting any other price band, such as ₹94, ₹96, ₹97, ₹98, ₹99, or ₹100, will not receive an allotment. The total issue size for Regal Resources IPO is ₹306 crore, comprising a fresh issue of ₹210 crore and an Offer for Sale (OFS) of approximately ₹96 crore. The company’s shares are slated for listing on both the BSE and NSE.
IPO Structure and Investor Allocation
The shares in the Regal Resources IPO are allocated across different investor categories as follows:
- Qualified Institutional Buyers (QIBs): 50% of the shares
- High Net Worth Individuals (HNIs): 15% of the shares
- Retail Investors: 35% of the shares
Anchor Investor Details
Prior to the IPO’s opening, on August 11th, a total of 899,856 equity shares were offered to anchor investors. Shares worth approximately ₹92 crore were successfully allocated to anchor investors. Investors holding these anchor shares will have the opportunity to sell 50% of their holdings on September 17th, with the remaining 50% available for sale on November 16th. These two dates will be significant for market observation.
Important Dates for Regal Resources IPO Investors
For those who applied to the Regal Resources IPO on August 12th, 13th, or 14th, here are the key upcoming dates:
- Allotment Information Available: Next Monday (August 17th, as per the transcript’s context)
- Allotment Finalization: August 18th
- Refunds Initiated: August 19th
- Shares Credited to Demat Account: August 19th
- Listing Date (BSE & NSE): August 20th
Regal Resources IPO Day 3 Subscription Status: A Detailed Overview
The Regal Resources IPO concluded its subscription period with an overwhelming response across all categories.
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Overall Subscription: The IPO was subscribed approximately 159.83 times, or nearly 160 times, by the end of Day 3. Against 2.1 crore equity shares offered, bids were received for a staggering 335.64 crore equity shares, translating to a total bid value of ₹34,000 crore. This impressive response was consistent across all investor categories.
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Qualified Institutional Buyers (QIB) Category: The QIB category saw an exceptional subscription of approximately 1991 times. Against the 60,02,62 equity shares offered to QIBs, bids were received for 114 crore 57 lakh 89,712 equity shares, valuing ₹11,687 crore. The response from QIBs was particularly strong in the final hours, as this category was subscribed only 10 times until 1 PM on Day 3, with significant interest pouring in thereafter.
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High Net Worth Individuals (HNI) Category: The HNI category also garnered a robust response, subscribing approximately 357 times. For 45 lakh equity shares, bids were received for 1 crore 60 lakh 50 thousand equity shares, amounting to a substantial ₹16,371 crore.
- Big HNI: This sub-category was subscribed 387.71 times (approximately 388 times). For 30 lakh equity shares, bids were received for 116 crore 31 lakh equity shares, totaling ₹11,864 crore. Based on this subscription, the chance of allotment for Big HNI applicants is roughly 1 in 77 applications.
- Small HNI: This sub-category saw a subscription of 294.60 times (approximately 295 times). Against 15 lakh equity shares, bids were received for 44 crore 19 lakh equity shares, valuing ₹457 crore. For Small HNI applicants, the allotment chance stands at approximately 1 in 260 applications.
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Retail Investors Category: Retail investors actively participated, leading to a subscription of approximately 57.67 times. Against 1 crore 5 lakh equity shares offered to retail investors, bids were received for 60 crore 55 lakh equity shares, totaling a value of ₹6,176 crore. The allotment chance for retail applicants is estimated to be 1 in 42 applications.
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Previous Days’ Performance:
- Day 1: The IPO saw a subscription of 5.94 times across all categories, indicating strong initial interest.
- Day 2: By the end of the second day, the IPO was subscribed 26.40 times, building on the momentum with good responses from Big HNI, Small HNI, and Retail categories.
Regal Resources IPO Grey Market Premium (GMP) and Listing Expectations
In the morning, the Grey Market Premium (GMP) for Regal Resources IPO was around 32%, suggesting a potential listing gain of approximately ₹4600 per lot. However, due to recent market volatility and the market being closed for three days (Friday, Saturday, and Sunday), the GMP has seen a decline.
The current Grey Market Premium (GMP) has dropped to ₹24. Based on this, the expected listing price is ₹126. This translates to an approximate listing gain of 24%, which would amount to around ₹3500 per lot.
Conclusion
The Regal Resources IPO has received a remarkably strong response across all investor categories by the close of Day 3. The high subscription levels, particularly from QIBs and HNIs, indicate significant investor confidence. Despite recent fluctuations in the Grey Market Premium, the IPO still holds the potential for decent listing gains based on current estimates.
We invite you to share in the comments section which category (Big HNI, Small HNI, or Retail) you applied in and how many lots you subscribed for. For real-time updates on IPO GMP and allotment status, you can join our Telegram group via the link provided in the comments.
