Royal Sense finalized the basis of IPO share allotment today and will initiate refunds for non-allottees on March 15. The company’s shares are scheduled to be listed on the BSE on March 19, 2024.
The allotment of Royal Sense IPO was finalized on Friday, March 15, following an oversubscription of 8.64 times during the three-day bidding window, which closed on Thursday, March 14, 2024. The company aims to raise ₹9.86 crore through IPO proceeds.
The Royal Sense Ltd public offer, consisting of a fresh equity issue of 14.5 lakh shares, received bids for a total of 1,11,54,000 shares against 12,90,000 shares on offer, according to BSE data. Retail individual investors (RIIs) subscribed to the issue 7.32 times their portion, while the non-institutional investors (NIIs) category was oversubscribed over 10 times.
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Royal Sense IPO subscribers can check the allotment status of shares through two methods: either on the official BSE website or on the IPO registrar’s portal. Bigshare Services Pvt Ltd is the registrar for the public issue.
Here are the steps to check the Royal Sense Ltd IPO allotment status on the BSE:
- Visit https://www.bseindia.com
- Go to ‘Investor Services’ section
- Click ‘Status of Issue Application’
- Select issue type ‘Equity’
- Select company name from the drop-down list
- Fill ‘Application Number’ or ‘PAN number’
- Click ‘Search’ button
Follow these steps to check the status of IPO allotment on Bigshare Services’ website:
- Visit – https://www.bigshareonline.com/Index.aspx
- Click ‘IPO Allotment Status’ section
- Select ‘Royal Sense’ from the drop-down list of companies
- Enter PAN/Application No./CAF No./Beneficiary ID
- Fill ‘Captcha’
- Click Search button
Successful bidders can check the number of shares allotted to them, as well as view the number of shares they originally applied for.
After the allotment is finalized, the company will initiate refunds on Monday, March 18, for those who have not been allotted shares. Additionally, the IPO shares will be credited to the demat accounts of successful applicants on the same day.
The shares of the company will be listed on the BSE SME platform, with the tentative listing date set for Tuesday, March 19, 2024.
More details about the Royal Sense IPO
The price of the Royal Sense IPO is fixed at ₹68 per share, with a minimum lot size for an application set at 2,000 shares. Retail investors must invest a minimum of ₹1,36,000 to apply for one lot, while high net worth individuals are required to invest in at least 2 lots, or 4,000 shares, necessitating a minimum investment of ₹2,72,000.
The company offered 1,450,000 shares for subscription under the IPO. Of this, 6,45,000 (44.48%) shares were reserved for NIIs and an equal amount of shares for retail investors. The market maker’s portion was fixed at 160,000 (11.03%) shares. There was no anchor portion earmarked in the IPO.
The company will use the IPO net proceeds for working capital requirements, issue expenses, and other general corporate purposes.
Expert Global Consultants Private Limited is the book-running lead manager of the Royal Sense IPO, and Rikhav Securities is the market maker.
Rishabh Arora is the promoter of the company. Arora held a 99.99% stake in the company pre-IPO, and his stake will be reduced to 67.15% now.
About Royal Sense Ltd
Established in 2023, Royal Sense Limited specializes in supplying medical disposables, diagnostic kits, laboratory equipment, surgical instruments, surgical consumables, and laboratory reagents, among other healthcare products.
Previously operated as a sole proprietorship under the name ‘M/s Royal Traders, PHT, and Anaya’ by Rishabh Arora, the business was acquired by Royal Sense Limited on April 28, 2023, along with its assets and liabilities.
Royal Sense Ltd supplies its wide range of products to the health ministries of various states, including Uttar Pradesh, Himachal Pradesh, Rajasthan, and Jammu & Kashmir. Product distribution is managed through a network of distributors and sub-dealers. Moreover, the company serves government institutions and private healthcare facilities and hospitals across the nation.
