Retaggio Industries IPO: A Slow Start in the Market

The initial public offering (IPO) of Retaggio Industries, which launched its subscription on March 27, has seen a lukewarm response, with only 31% of the issue subscribed by the end of its first day. Even in the grey market, enthusiasm for Retaggio’s shares appears muted, as they traded at the same price as their IPO of ₹25.

IPO Subscription Insights

As of the first day, the Retaggio Industries IPO attracted a subscription rate of merely 0.31 times. Breaking it down further:

• Retail investors showed slight interest, with their portion subscribed at 0.53 times.
• However, non-institutional buyers were far less engaged, subscribing only 0.09 times.

Key Details About the Retaggio Industries IPO

Here’s what you need to know about this IPO:

• IPO Opening and Closing Dates: The subscription period began on March 27 and will conclude on April 2.
• Funding Goals: Retaggio aims to raise ₹15.50 crore through this share offering.
• Structure of the Offer: The IPO consists of a fresh issue of 61.98 lakh shares.
• Fixed Price: Shares are being offered at a set price of ₹25 each.
• Minimum Investment: Retail investors must purchase a minimum lot of 6,000 shares, translating to a minimum investment of ₹1,50,000.

Purpose of the IPO Funds

The funds raised from this IPO are intended for:

• Repayment and prepayment of certain debts.
• Meeting working capital requirements.

Current Market Sentiment

As it stands, the grey market premium (GMP) for the Retaggio Industries IPO is reported as NIL. This suggests the shares are likely to list at ₹25, matching their issue price.

Upcoming Listing Information

The shares of Retaggio Industries are expected to list on the BSE SME platform, with the tentative date set for April 7.

Management Team Behind the IPO

Gretex Corporate Services Limited is serving as the book-running lead manager for this IPO, while Bigshare Services Pvt Ltd handles the registration process for the issue.

About Retaggio Industries

Founded in 2022, Retaggio Industries specializes in the production of exquisite jewelry, including necklaces, bracelets, and earrings. The company has built a reputation in the B2B sector for its high-end, heritage pieces that exhibit outstanding craftsmanship and unique designs.

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