Resource Automobile IPO Allotment Day: Check Your Status Now Amid Sky-High Subscription Buzz
The Resource Automobile IPO, which gained significant attention due to its high subscription rate, is set to finalize its allotment today. Investors can check their allotment status through the registrar, Cameo Corporate Services, or the BSE website.
The IPO, which was open from August 22 to August 24, saw strong demand from all investor categories. The shares were priced at ₹117 each.
Given the oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, Resource Automobile will initiate the refund process on August 28, 2024.
Allotted shares will be credited to investors’ demat accounts on the same day as the refunds are processed. The Resource Automobile IPO is an SME IPO, and the shares are expected to be listed on the BSE SME platform around August 29, 2024.
How to Check Your Resource Automobile IPO Allotment Status
Steps to check on the registrar’s website:
- Visit the IPO registrar’s website at https://ipo.cameoindia.com/.
- Select “Resource Automobile” from the company drop-down menu.
- Choose your preferred method to check: DP-ID, Application No., or PAN.
- Enter the required details based on your selection.
- Complete the Captcha code and click ‘Submit’ to view your allotment status.
Steps to check on the BSE website:
- Visit the BSE allotment page at https://www.bseindia.com/investors/appli_check.aspx.
- Select ‘Equity’ under ‘Issue Type’.
- Choose “Resource Automobile” from the ‘Issue Name’ drop-down menu.
- Enter your PAN or application number.
- Confirm your identity by clicking on ‘I am not a robot’ and hit ‘Submit’.
GMP Signals Strong Listing
As of today, the grey market premium (GMP) for Resource Automobile IPO is ₹90 per share. This suggests the shares could list at ₹90 above the issue price, potentially at ₹207 per share—a 77% premium over the issue price of ₹117.
The grey market premium reflects investor sentiment and demand before the stock officially starts trading, but it should not be the only factor in making investment decisions.
Stellar Response to the IPO
The SME IPO received bids for 40,76,48,400 shares, against the 10,24,800 shares on offer, leading to a subscription rate of 397.8 times. The retail segment was particularly strong, with bids for 24,14,62,800 shares against the 4,86,600 available, a subscription rate of 496.22 times.
Resource Automobile plans to use the IPO proceeds to expand its business by opening new showrooms in Delhi/NCR. Additionally, the funds will be used to repay debt, meet working capital needs, and for general corporate purposes.
About Resource Automobile
Resource Automobile operates under the “Sawhney Automobiles” brand and specializes in Yamaha two-wheeler dealerships. The company offers a range of bikes and scooters, from commuter models to premium selections.
As an authorized Yamaha dealer, the company provides customers with the latest models, genuine spare parts, and financing options. Resource Automobile runs two concept-driven showrooms in New Delhi—one in Dwarka, showcasing Yamaha’s full range, and another on Palam Road, focusing on premium models.
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