The Innovative Car IPO is a fixed-price offering valued at Rs 11.99 crores. The 10.25 lakh shares are being issued fully anew. The subscription period for the Resourceful Automobile IPO begins on August 22, 2024, and ends on August 26, 2024. On Tuesday, August 27, 2024, the allocation for the Resourceful Automobile IPO is anticipated to be completed. The BSE SME will host the preliminary listing of Resourceful Automobile IPO on Thursday, August 29, 2024.
Details About Resourceful Automobile
The IPO price of Resourceful Automobile is ₹117 per share. An application must have a minimum lot size of 1200 shares. Retail investors need to invest a minimum of ₹140,400. For HNI, a minimum investment of two lots (2,400 shares) of ₹280,800 is required. The Resourceful Automobile IPO’s registrar is Cameo Corporate Services Limited, and its book running lead manager is Swastika Investmart Ltd. Nikunj Stock Brokers is the market maker for the Resourceful Automobile IPO.
Sawhney Automobile is the brand name under which Yamaha two-wheelers are sold by Resourceful Automobile Limited, a company established in 2018. Sawhney Automobile provides a wide selection of two-wheelers to meet the demands and desires of its varied customer base. The renowned manufacturers’ cruisers, sports bikes, scooters, and commuter bikes are all included in the selection.
Resourceful Automobile IPO Details
| IPO Open Date | 22 August 2024 |
| IPO Close Date | 24 August 2024 |
| Face Value | ₹10 per Share |
| Price | ₹117 per Share |
| Lot Size | 200 Shares |
| Total Issue Size | 1,024,800 Shares (Approx up to ₹11.99 Cr) |
| Fresh Issue | 1,024,800 Shares (Approx up to ₹11.99 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing at | BSE SME |
At the moment, the company operates two conceptual showrooms that are connected to a workshop. The full selection of Yamaha two-wheelers, clothing, and accessories are on display at the Blue Square shop in Dwarka, New Delhi. In New Delhi, another showroom may be found on Palam Road. This store has a large selection of unique and high-quality two-wheelers, including the newest Yamaha India models and a varied assortment of motorbikes.
Objective Of The IPO Launch
- To continue the company’s expansion by building new showrooms in Delhi/National Capital Region
- To repay debt
- To satisfy incremental working capital needs
- For general corporate purposes, including meeting public issue expenses.
