Royalarc Electrodes: Royalarc Electrodes shares get listed flat at ₹120!Royalarc Electrodes: Royalarc Electrodes shares get listed flat at ₹120!

Royalarc Electrodes had an unimpressive stock market debut on Monday, February 21, with its shares opening at the issue price of ₹120 on the NSE SME platform, showing no initial gain for investors upon listing.

Royalarc Electrodes IPO saw a total subscription of 1.6 times on Day 3, with Qualified Institutional Buyers (QIBs) subscribing 1.04 times, Non-Institutional Investors (NIIs) at 0.92 times, and Retail Investors leading with 2.2 times the allotted quota, indicating strong demand from retail participants.

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Royalarc Electrodes Ltd, established in 1996, manufactures welding electrodes, flux-cored wires, MIG/TIG wires, and strip cladding, offering both standard and customized solutions. It also trades ancillary products like abrasive wheels and welding flux. Operating from a 269,198 sq. ft. facility in Zaroli, Umbergaon, Gujarat, it serves domestic and export markets.

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Royalarc Electrodes Ltd aims to use IPO proceeds for expanding its Zaroli, Umbergaon facility with a ₹488.66 lakh investment, allocating ₹1,650 lakhs for working capital, and funding general corporate purposes, ensuring compliance with SEBI ICDR regulations.
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