Shares of maize specialty products manufacturer Regaal Resources Ltd are set to list on the BSE and NSE today following an overwhelmingly subscribed initial public offering (IPO). The ₹306 crore IPO, which was open for subscription between August 12 and 14, received an exceptional response across investor categories.
According to the BSE notification, the equity shares of Regaal Resources will be admitted to dealings under the ‘B’ Group of securities from Wednesday, August 20, 2025. The stock will be available for trading from 10:00 AM during the Special Pre-Open Session (SPOS).
Strong Grey Market Premium Ahead of Listing
Investor sentiment appears upbeat, with Regaal Resources commanding a grey market premium (GMP) of ₹29 per share ahead of its debut. This suggests a likely listing price of around ₹131 per share, representing a 28.5% premium over the IPO issue price of ₹102.
Market observers believe the robust GMP reflects confidence in the company’s niche positioning within India’s agricultural supply chain.
Analyst View
Commenting on the IPO, Bhavik Joshi, Business Head at INVasset PMS, highlighted Regaal’s strategic advantage in maize sourcing and exports to Nepal and Bangladesh. He also noted the company’s Zero Liquid Discharge (ZLD) maize milling facility, which supports compliance and scalability.
However, Joshi pointed out that valuations appear fully priced at 21.98x FY25 earnings, leaving limited room for upside in the near term. “This stock may appeal more to long-term investors with a focused outlook on agri-infrastructure and supply chain growth rather than short-term traders,” he said.
IPO Subscription Details
The public issue witnessed massive investor demand, being subscribed 159.88 times in total. The breakup showed:
- Retail Investors: 57.75 times
- Non-Institutional Investors (NIIs): 356.73 times
- Qualified Institutional Buyers (QIBs): 190.97 times
Pantomath Capital Advisors acted as the book-running lead manager for the issue, while MUFG Intime India served as the registrar.
With such a strong subscription and a healthy grey market premium, investors will be closely watching Regaal Resources’ listing performance today to gauge whether the IPO frenzy translates into sustained market momentum.
