SME IPO shocker: Two-showroom bike dealer got 400x subscription but lists flat

August 29, 2024

Shares of Resourceful Automobile listed flat on the BSE SME platform at Rs 117, despite strong subscription and a GMP of 89% above the offer price. The company, which operates two Yamaha showrooms, plans to use the IPO proceeds for expansion, debt repayment, and general corporate purposes.

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