Regaal Resources IPO opens for subscription; GMP at 22%. Should you bid?

Regaal Resources will launch its Rs 306 crore IPO, closing on August 14, with a price band of Rs 96-102 per share. The IPO comprises a fresh issue and an OFS by the promoter group. Proceeds will be used to repay borrowings. Brokerages recommend subscribing, citing the company’s strategic location, efficient procurement, and diversified product portfolio.

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