Shares of Royal Sense were quoting at Rs 122.74 on the BSE, a premium of 80.50% compared with the issue price of Rs 68.
The scrip was listed at Rs 129.20, a premium of 90% compared with the initial public offer (IPO) price. The stock is currently frozen in a lower limit of 5% over its listing price.The counter hit a high of Rs 129.20 and a low of Rs 122.74. About 3.46 lakh shares of the company changed hands at the counter.
Royal Sense's IPO was subscribed 7.69 times. The issue opened for bidding on 12 March 2024 and it closed on 14 March 2023. The price of the IPO was fixed at Rs 68 per share.
The IPO comprised fresh issue of 14,50,000 shares. The promoter and promoters shareholding diluted to 67.14% from 95.36% pre-IPO.
The company intends to utilise the net proceeds of issue to meet funding the working capital requirements, issue expenses and general corporate purposes.
Royal Sense is a medical supplier providing equipment and instruments to hospitals, labs, and clinics across India. They offer a customizable range of products meeting international standards and cater to both government institutions and private healthcare providers. Despite having only 8 employees (as of 30 June 2023), they supply to various Indian states and distribute through their own channels or partners.
The company recorded consolidated revenue from operations of Rs 8.03 crore and net profit of Rs 0.70 crore for the period ended 30 September 2023.
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