Royal Sense IPO Debut: Trading at 90% Premium on BSE

Introduction

Royal Sense’s initial public offering (IPO) had a robust start as its shares opened at ₹129.20, marking a 90% increase from the issue price of ₹68. This strong debut occurred on Tuesday, March 19, 2024, at the Bombay Stock Exchange (BSE).

The stock, however, later dipped and was trading at ₹122.74 around 10:05 am.

Royal Sense’s IPO was open for subscription from March 12 to March 14, 2024, featuring a fixed price issue worth ₹9.86 Crore, consisting entirely of 14.5 lakh new shares.

The SME IPO received significant interest from investors, with subscriptions exceeding 8.5 times the offering on the final day of bidding. Retail investors subscribed 7.32 times, while non-institutional investors subscribed 9.72 times.

Of the IPO shares, 645,000 (44.48% of the total) were allocated to non-institutional investors and the same to retail investors.

Royal Sense Limited specializes in supplying various products such as Medical Equipment, Surgical Instruments, and Laboratory Equipment, among others. Its clientele includes government health departments across states like Uttar Pradesh, Himachal Pradesh, Rajasthan, and Jammu & Kashmir, along with direct distribution networks and partnerships with government and private hospitals nationwide.

The company’s revenue for FY23 was ₹11.56 crore, compared to ₹6.75 crore in FY22 and ₹7.14 crore in FY21. From April 6, 2023, to September 30, 2023, revenue reached ₹8.03 crore.

Profit figures for FY23, FY22, and FY21 were ₹1.32 crore, ₹22 lakh, and ₹21.4 lakh, respectively. From April 6, 2023, to September 30, 2023, the company reported a profit of approximately ₹70.28 lakh.

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