Resourceful Automobile IPO (SME): Things to Know

• Resourceful Automobile IPO is a fixed price issue of Rs 11.99 crores.
• This upcoming IPO bidding opens on August 22 and closes on August 26, 2024.
• Resourceful Automobile SME IPO price is set at Rs 117 per share.
• The minimum investment required is Rs 1,40,400.

Resourceful Automobile IPO: Synopsis

Resourceful Automobile IPO is open for subscription starting Thursday, August 22, 2024, and closing on Monday, August 26, 2024. This upcoming IPO's price is Rs 117 per share. The minimum lot size set for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2400 shares. 

The minimum investment required for retail category investors is Rs 1,14,400 (117 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,80,800 (117 x 2400 shares). 

Resourceful Automobile IPO is a fixed price issue of Rs 11.99 crores. This upcoming IPO’s is a fresh issue of Rs 10.25 lakh equity shares.The allotment for this new IPO is expected to be finalised on Tuesday, August 27, 2024. Resourceful Automobile IPO will be listed on NSE SME on Thursday, August 29, 2024. 

Swastika Investmart Limited is the book-running lead manager, Cameo Corporate Services Limited is the registrar, and Nikunj Stock Brokers is the market maker for this IPO.

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Resourceful Automobile IPO: About the Company

Resourceful Automobile Limited was founded in 2018, engaged in the business of selling Yamaha two wheelers under the name of  Sawhney Automobile. The company offers a comprehensive range of two-wheelers to fulfil a variety of customer wants and needs. The range includes commuter bikes, sports bikes, cruisers, and scooters from renowned manufacturers.

Resourceful Automobile has two conceptual showrooms with an attached workshop. The Blue Square showroom in Dwarka, New Delhi, showcases the entire range of Yamaha two-wheelers, apparel, and accessories. Another showroom is located on Palam Road in New Delhi. This showroom offers a wide range of high-quality and distinctive two-wheelers, including the latest models from Yamaha India and a diverse collection of motorcycles.

Resourceful Automobile IPO: Objectives

The net funds will be allocated for opening new showrooms in Delhi, NCR. The remaining will be used for the repayment of certain debt, to meet the day-to-day capital requirements and fulfilling the general corporate purposes. 

Resourceful Automobile IPO: Other Important Details

Time-Table of Resourceful Automobile IPO

Resourceful Automobile IPO: Financial Metrics (Amt in Rs Lakhs)

Resourceful Automobile posted revenue of Rs 1,723.64 lakhs and net profit of Rs 152.24 lakhs for the period ending on 29 Feb 2024. In FY23, the company posted a revenue of Rs 1,938.26 lakhs and Rs 41.50 lakhs. 

Minimum Investment: Lot Size Details 

Promoters of Resourceful Automobile Limited and Their Holdings

The promoters of Resourceful Automobile are Rahul Sawhney, Megha Chawla, and Bindu Sawhney. The promoters' shareholdings before the IPO were 100%; however, after the IPO, shareholdings will decline to 61.41%.

Resourceful Automobile: Strength of Company

1.     Resourceful Automobile offers a comprehensive range of two-wheelers to fulfil a variety of customer wants and needs. 

2.     The company has two conceptual showrooms with an attached workshop. 

3.     Resourceful Automobile's financials improved. The company’s net profit shows a sharp jump from Rs 41.5 lakhs to Rs 152.24 lakhs in the period between 31 March 2023 and 29 Feb 2024. 

FAQs

1. What are the details of the Resourceful Automobile IPO?

Resourceful Automobile IPO is a fixed price issue of Rs 11.99 crores. This upcoming IPO’s is a fresh issue of Rs 10.25 lakh equity shares.The allotment for this new IPO is expected to be finalised on Tuesday, August 27, 2024.

2. Who are the lead managers for the Resourceful Automobile IPO?

Swastika Investmart Limited is appointed as the book-running lead manager for the IPO.

3. What is the role of Cameo Corporate Services in this IPO?

Cameo Corporate Services Limited is the registrar for Resourceful Automobile Limited, handling the IPO's administrative aspects.

4. How can I apply for the Resourceful Automobile IPO?

The public subscription of this new IPO will open on August 22, 2024. Click here to initiate the application process. 

5. How will the net proceeds from the IPO be utilised?

The net funds will be allocated for opening new showrooms in Delhi, NCR. The remaining will be used for the repayment of certain debt, to meet the day-to-day capital requirements and fulfilling the general corporate purposes. 

6. How can I check the allotment status of the IPO?

Investors who applied can check the allotment status of the Resourceful Automobile Limited IPO by visiting here. For further updates follow Bigul. 

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