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Resourceful Automobile IPO Debuts Flat at ₹117 Despite Massive Oversubscription

Resourceful Automobile's IPO debuted flat on Thursday, with shares listing at ₹117 each on BSE SME, matching the issue price of ₹117.
Resourceful Automobile IPO Debuts Flat at ₹117 Despite Massive Oversubscription

Resourceful Automobile experienced a flat stock market debut on Thursday, with its shares listing at ₹117 on the BSE SME. This listing price matched the IPO price of ₹117 per share, showing no initial gain or loss.

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Resourceful Automobile IPO, which was open from August 22 to August 26, was listed on BSE SME on August 29. Priced at ₹117 per share, it raised ₹11.99 crore and was oversubscribed 418.82 times overall, with high demand in retail and other categories.

Resourceful Automobile, operating as “Sawhney Automobile,” is a Yamaha two-wheeler dealership specializing in motorcycle and scooter sales and servicing. Known for its quality products and exceptional customer service, it offers a diverse inventory including commuter bikes, sport bikes, cruisers, and scooters from trusted manufacturers, making it a popular choice among motorcycle enthusiasts.

Resourceful Automobile IPO aimed to raise capital for purposes like expansion, technology upgrades, debt reduction, or general corporate needs. This IPO involved raising funds through both a fresh issue of shares and an offer for sale.

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