Resourceful Automobile Limited IPO opens on August 22, 2024, and closes on August 26, 2024. The allotment for the Resourceful Automobile Limited IPO is anticipated to be completed on Tuesday, August 27, 2024. The IPO will be listed on the SME and BSE, with a tentative date set for Thursday, August 29,2024.
The Resourceful Automobile Limited IPO’s price band is Rs 117 per share. The IPO is a book-built issue of Rs 11.99 crores, an entirely new issue of 10.25 lakh shares.
Resourceful Automobile IPO Details
| IPO Date | August 22, 2024 to August 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹117 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 1,024,800 shares (aggregating up to ₹11.99 Cr) |
| Fresh Issue | 1,024,800 shares (aggregating up to ₹11.99 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Shareholding pre-issue | 1,631,145 |
| Shareholding post-issue | 2,655,945 |
| Market Maker portion | 51,600 shares |
Resourceful Automobile IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1200 | ₹140,400 |
| Retail (Max) | 1 | 1200 | ₹140,400 |
| S-HNI (Min) | 2 | 2400 | ₹280,800 |
Resourceful Automobile IPO Objectives
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- General Corporate Purpose
- Repayment of Debt;
- To Meet Incremental Working Capital Requirements; and
- General Corporate Purpose and to meet Public Issue Expenses.
About Resourceful Automobile Limited
Founded in 2018, Resourceful Automobile Limited, operating under the name “Sawhney Automobile,” specializes in selling Yamaha two-wheelers, offering a diverse lineup that includes commuter bikes, sports bikes, cruisers, and scooters. The company operates two conceptual showrooms in New Delhi—one is the Blue Square showroom in Dwarka, which features the full range of Yamaha two-wheelers, apparel, and accessories, while the other, located on Palam Road, showcases the latest Yamaha models alongside a variety of distinctive motorcycles. As of July 31, 2024, the company employs eight permanent staff members.
Resourceful Automobile Limited Financial Information
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,451.41 | 1,000.49 | 1,008.58 | 429.46 |
| Revenue | 1,723.64 | 1,938.26 | 1,250.1 | 1,127.26 |
| Profit After Tax | 152.24 | 41.5 | 28.73 | 0.16 |
| Net Worth | 315.78 | 163.56 | 74.78 | 46.05 |
| Reserves and Surplus | 152.67 | 66.27 | 24.78 | -3.95 |
| Total Borrowing | 992.34 | 747.77 | 673.73 | 269.81 |
| Amount in ₹ Lakhs |
Resourceful Automobile IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Resourceful Automobile IPO Timeline
Resourceful Automobile IPO opens on August 22, 2024, and closes on August 26, 2024.
| IPO Open Date | Thursday, August 22, 2024 |
| IPO Close Date | Monday, August 26, 2024 |
| Basis of Allotment | Tuesday, August 27, 2024 |
| Initiation of Refunds | Wednesday, August 28, 2024 |
| A credit of Shares to Demat | Wednesday, August 28, 2024 |
| Listing Date | Thursday, August 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 26, 2024 |
Conclusion
The Resourceful Automobile Limited IPO, opening on August 22, 2024, and closing on August 26, 2024, offers an opportunity for investors to participate in a growing company in the Yamaha two-wheeler segment. Priced at Rs 117 per share, the IPO aims to raise Rs 11.99 crores through a fresh issue of 10.25 lakh shares. The funds will be utilized for debt repayment, working capital, and general corporate purposes. With its listing on the BSE SME scheduled for August 29, 2024, Resourceful Automobile is poised to strengthen its market presence in New Delhi.
