The IPO price for Resourceful Automobile has been set at ₹117 per share. The company plans to raise ₹11.99 crore through this initial public offering, which involves a fresh issue of 10.25 lakh shares.
The IPO will be open for bidding from Thursday, August 22, to Monday, August 26. Swastika Investmart Ltd is the lead manager, and Cameo Corporate Services Limited is the registrar. Nikunj Stock Brokers will act as the market maker for this IPO.
The funds raised from the IPO will be used to expand the company by opening new showrooms in Delhi/NCR, repay debt, meet additional working capital needs, and cover general corporate expenses, including the cost of the public issue.
The allotment of shares is expected to be finalized on Tuesday, August 27, 2024, with the listing on the BSE SME tentatively scheduled for Thursday, August 29, 2024.
Retail investors can participate by bidding for a minimum of one lot, which includes 1,200 shares. The minimum investment required for retail investors is ₹1,40,400.
About the Company
Resourceful Automobile operates under the brand name “Sawhney Automobiles” and is an authorized dealer for Yamaha two-wheelers. The company offers a variety of motorcycles and scooters, catering to different customer needs.
The company has two showrooms in New Delhi. The Blue Square outlet in Dwarka displays Yamaha’s entire range of two-wheelers, along with accessories. The other showroom on Palam Road focuses on premium and unique two-wheelers, featuring the latest models from Yamaha.
Looking ahead, Sawhney Automobiles is focused on growth and innovation in the two-wheeler market. By keeping up with market trends, building strong customer relationships, and adopting new technologies, the company aims to establish itself as a top destination for two-wheeled mobility.
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