The Resourceful Automobile IPO is a fixed-price offering, amounting to ₹11.99 crores. This IPO is entirely a fresh issue, consisting of 10.25 lakh shares.
The subscription for the Resourceful Automobile IPO will be open from August 22, 2024, to August 26, 2024. The allotment is expected to be finalized on Tuesday, August 27, 2024, and the IPO is set to list on the BSE SME, with a tentative listing date of Thursday, August 29, 2024.
The IPO is priced at ₹117 per share. The minimum application size is 1,200 shares, requiring a minimum investment of ₹140,400 for retail investors. For High Net Worth Individuals (HNI), the minimum investment is 2 lots (2,400 shares), amounting to ₹280,800.
Below are the details of Resourceful Automobile IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Resourceful Automobile IPO Details
| IPO Date | August 22, 2024 to August 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹117 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 1,024,800 shares (aggregating up to ₹11.99 Cr) |
| Fresh Issue | 1,024,800 shares (aggregating up to ₹11.99 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,631,145 |
| Share holding post issue | 2,655,945 |
| Market Maker portion | 51,600 shares |
Resourceful Automobile IPO Timeline
| IPO Open Date | Thursday, August 22, 2024 |
| IPO Close Date | Monday, August 26, 2024 |
| Basis of Allotment | Tuesday, August 27, 2024 |
| Initiation of Refunds | Wednesday, August 28, 2024 |
| Credit of Shares to Demat | Wednesday, August 28, 2024 |
| Listing Date | Thursday, August 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 26, 2024 |
Resourceful Automobile IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹140,400 |
| Retail (Max) | 1 | 1200 | ₹140,400 |
| HNI (Min) | 2 | 2,400 | ₹280,800 |
Resourceful Automobile IPO Reservations
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Resourceful Automobile IPO Promoters Holding
Mr. Rahul Sawhney, Mrs. Megha Chawla, and Mrs. Bindu Sawhney are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 61.41% |
Resourceful Automobile IPO Financial Information
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 1,451.41 | 1,000.49 | 1,008.58 | 429.46 | ||||||||||||||||||||||||||||||||||||
| Revenue | 1,723.64 | 1,938.26 | 1,250.1 | 1,127.26 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 152.24 | 41.5 | 28.73 | 0.16 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 315.78 | 163.56 | 74.78 | 46.05 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 152.67 | 66.27 | 24.78 | -3.95 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 992.34 | 747.77 | 673.73 | 269.81 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Resourceful Automobile IPO Review
The Resourceful Automobile IPO is a fixed-price issue aiming to raise ₹11.99 crores through the issuance of 10.25 lakh fresh equity shares. Priced at ₹117 per share, the IPO opens for subscription on August 22, 2024, and closes on August 26, 2024. The shares are expected to be allotted on August 27, 2024, with a tentative listing date on the BSE SME set for August 29, 2024.
The minimum lot size is 1,200 shares, requiring a minimum investment of ₹140,400 for retail investors. High Net-worth Individuals (HNIs) can apply for a minimum of two lots, equating to an investment of ₹280,800.
Resourceful Automobile Limited, established in 2018, is primarily engaged in selling Yamaha two-wheelers through its “Sawhney Automobile” brand. The company plans to use the IPO proceeds for expanding its showroom network in the Delhi/NCR region, repaying debt, meeting incremental working capital requirements, and other general corporate purposes.
The company has seen consistent growth, earning several accolades in the automotive industry, and is positioning itself to capitalize on the growing two-wheeler market in India, which is driven by increasing urbanization and consumer demand.
FAQs
Q1. What is the Resourceful Automobile IPO price per share?
Ans. The Resourceful Automobile IPO is priced at ₹117 per share. This fixed-price IPO offers shares for subscription between August 22 and August 26, 2024.
Q2. What is the minimum investment required for the Resourceful Automobile IPO?
Ans. The minimum investment required for retail investors in the Resourceful Automobile IPO is ₹140,400, which corresponds to a lot size of 1,200 shares.
Q3. When will the Resourceful Automobile IPO be listed on the stock exchange?
Ans. The Resourceful Automobile IPO is expected to be listed on the BSE SME on August 29, 2024.
Q4. What are the objectives of the Resourceful Automobile IPO?
Ans. The proceeds from the Resourceful Automobile IPO will be used for expanding showroom networks in Delhi/NCR, repaying debt, meeting working capital needs, and other corporate purposes.
Q5. How can I apply for the Resourceful Automobile IPO?
Ans. You can apply for the Resourceful Automobile IPO through ASBA (Application Supported by Blocked Amount) via your bank account or UPI through stockbrokers. Applications can be submitted online or offline.