Regaal Resources IPO: Allotment odds falls to only 0.35% for these investors; GMP drops

Regaal Resources IPO, which saw a bumper response from investors during the bidding process, has now left investors wondering what are the odds of getting the allotment of shares after a stellar bidding for the issue. Interestingly, HNI investors have the least chances of getting the allotment in this IPO.

The IPO of Regaal Resources fetched more than 35.65 lakh applications. Net of the Rs 91.80 crore anchor book, the IPO of Regaal Resources fetched bids worth Rs 34,250 crore for its Rs 214.2 crore offering as the issue was overall booked a stellar 159.88 times. Allotment is likely to be out by Friday, while shares of the company shall be listed on Monday, August 18.

On an individual basis, the quota for qualified institutional bidders (QIBs) was booked 190.97 times, fetching bids worth Rs 11687.05 crore. The allocation for non-institutional investors (NIIs) was booked 356.73 times, attracting bids for Rs 16,373.48 crore for their allocation. Retail portion was booked 57.75 times, getting bids for Rs 6,184.67 crore for their allocation.

Marking its place in the IPO history of India, Regaal Resources became the 14th biggest issue in terms of application, following Nykaa, Paras Defence, Latent View Analytics and others. It surpassed the multibaggers like Rolex Rings and others. Here is the tentative odds allotment matrix in Regaal Resources IPO for the investors:

• Big HNI category: one investor out of 76 investors will get 2,016 shares (Probability: 1.31 per cent)
• Small HNI category: 1 investor out of 279 investors will get 2,016 shares (Probability: 0.35 per cent)
• Retail category: 1 investor out of 44 investors will get 144 shares. (Probability: 2.27 per cent)

The IPO of Regaal Resources was open for bidding between August 12 and August 14. The Kolkata-based company had offered its shares in the fixed price band of Rs 96-102 per share with a lot size of 144 shares. The company raised Rs 306 crore via its primary offering, which included a fresh share sale of Rs 210 crore and an offer-for-sale of up to 94,12,000 equity shares.

Grey market premium (GMP) of Regaal Resources has taken a big hit, even after a bumper response from investors, but still signaling a strong listing at the bourses. Last heard, the company was commanding a premium of Rs 24-25 in the unofficial market, indicating a listing pop of 24 per cent for the investors. GMP stood at Rs 34-35 a day ago.

Brokerage firms were mostly positive on the issue, suggesting to subscribe to it. Pantomath Capital Advisors and Sumedha Fiscal Services are the book running lead managers for Regaal Resources IPO and MUFG Intime India is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE with Wednesday, August 20 as the tentative date of listing.