Resourceful Automobile shares list flat at ₹117 apiece on BSE SME

Resourceful Automobile IPO Listing: Resourceful Automobile share price made a flat stock market debut on Thursday as the stock was listed at par with its issue price. Resourceful Automobile shares were listed at ₹117 apiece on BSE SME as against its IPO price of ₹117 per share.

Resourceful Automobile IPO listing was much lower than Street estimates. This is because Resourceful Automobile shares were trading at a hefty premium in the grey market.

Ahead of the share listing, Resourceful Automobile IPO GMP today, or grey market premium today, was ₹105 per share. This indicated an estimated listing price of ₹222 per share, a premium of 89.74% to the IPO price.

Resourceful Automobile IPO opened for subscription on August 22, and ended on August 26. The IPO allotment was finalized on August 27 and Resourceful Automobile IPO listing date was fixed on August 29.

Resourceful Automobile IPO was an SME IPO and the equity shares of the company got listed on BSE SME.

Resourceful Automobile IPO price band was ₹117 per share. The company ₹11.99 crore from the fixed-price issue which was entirely a fresh issue of 10.25 lakh equity shares.

Swastika Investmart Ltd is the book running lead manager of the Resourceful Automobile IPO, while Cameo Corporate Services is the IPO registrar.

Resourceful Automobile IPO received significant demand from investors and created a lot of buzz in the social media. Resourceful Automobile IPO was subscribed 418.82 times in total.

The public issue subscribed 496.22 times in the retail category and 315.61 times in the Other category.

The company operates under the showroom name “Sawhney Automobiles” and specialises in the dealership of Yamaha two-wheelers. The company currently operates two concept-driven showrooms, each with an integrated workshop.

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