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20 Nov 2024
Resourceful Automobile Limited IPO And Its GMP
Resourceful Automobile Limited is actively involved in the dealership of the two-wheeler bike Yamaha, operating under the showroom name “Sawhney Automobiles”. Specializing in the sales and servicing of motorcycles and scooters, with quality products and exceptional customer service, making it a trusted destination for motorcycle enthusiasts. Sawhney Automobile caters to a diverse range of customer preferences and needs by offering a comprehensive selection of two-wheelers.
The inventory encompasses commuter bikes, sport bikes, cruisers and scooters sourced from reputable manufacturers. As an authorized Yamaha dealership, they guarantee customers access to the latest models and authentic spare parts. Their dealership goes beyond sales, providing expert guidance to assist customers in selecting the right bike, arranging test rides and offering financing options for enhanced accessibility. They take pride in their advanced service center, where skilled technicians handle routine maintenance and repairs and ensure the availability of genuine spare parts to uphold the longevity and performance of the bikes we sell.
Issue Type: Fixed price issue
Total Issue Size: ₹11.99 crores
Number of Shares: 10.25 lakh shares (1,025,000 shares)
Issue Price: ₹117 per share
Application Dates: August 22, 2024, to August 26, 2024
Minimum Lot Size: 1,200 shares
Book Running Lead Manager: Swastika Investmart Ltd
Registrar: Cameo Corporate Services Limited
Market Maker: Nikunj Stock Brokers
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Resourceful Automobile IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 28-08-2024 | 117 | 105.0 (90%) | 28-Aug-2024 13:30 |
| 27-08-2024 | 117 | 105.0 (90%) | 27-Aug-2024 13:30 |
| 25-08-2024 | 117 | 85.0 (73%) | 25-Aug-2024 12:20 |
| 24-08-2024 | 117 | 85.0 (73%) | 24-Aug-2024 13:15 |
| 23-08-2024 | 117 | 85 | 23-Aug-2024 14:00 |
| 22-08-2024 | 117 | 80 | 22-Aug-2024 14:00 |
| 21-08-2024 | 117 | 70.0 (60%) | 21-Aug-2024 12:57 |
| 20-08-2024 | 117 | 55.0 (47%) | 20-Aug-2024 14:10 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Resourceful Automobile IPO Overview
| Detail | Description |
|---|---|
| IPO Date | August 22, 2024 to August 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹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 Nikunj Stock Brokers |
Resourceful Automobile IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| 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 |
| 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 |
Resourceful Automobile IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹140,400 |
| Retail (Max) | 1 | 1200 | ₹140,400 |
| HNI (Min) | 2 | 2,400 | ₹280,800 |
Resourceful Automobile IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Resourceful Automobile IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 61.41% |
Company & Financials
Resourceful Automobile Limited was founded in 2018 and sells Yamaha two-wheelers under the name “Sawhney Automobile”. Sawhney Automobile offers a comprehensive range of two-wheelers to fulfill a variety of customer wants and needs. The range includes commuter bikes, sports bikes, cruisers, and scooters from renowned manufacturers. The company currently has two conceptual showrooms with an attached workshop. The Blue Square showroom in Dwarka, New Delhi, showcases the entire range of Yamaha two-wheelers, apparel, and accessories. Another showroom is located on Palam Road in New Delhi. This showroom offers a wide range of high-quality and distinctive two-wheelers, including the latest models from Yamaha India and a diverse collection of motorcycles.
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 | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 0.48 |
| ROCE | 31.22 |
| RoNW | 0.48 |
| P/BV | 0 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.54 | 6.25 |
| P/E (x) | 45.99 | 18.71 |
Objectives of Resourceful Automobile IPO
The Issue Proceeds from the Fresh Issue will be utilized towards the following objectives:
- 1. To Carry on the Expansion of the company by opening new showrooms in Delhi/ NCR.
- 2. Repayment of Debt.
- 3. To Meet Incremental Working Capital Requirements.
- 4. General Corporate Purpose and to meet Public Issue Expenses.
Resourceful Automobile IPO Review
The company is operating in a highly competitive and fragmented segment of two-wheeler dealerships. It posted inconsistency in its financial performances for the reported periods. Based on FY24 annualized super earnings, the issue appears aggressively priced. A small equity base post-IPO indicates longer gestation for migration. There is no harm in skipping this “High Risk/Low Return” pricey bet.
FAQs for Resourceful Automobile IPO
-
What is a Resourceful Automobile IPO?
Resourceful Automobile IPO is a BSE SME IPO. They are going to raise ₹11.99 Crores via IPO. The issue is priced at ₹117 per equity share. The IPO is to be listed on BSE.
-
When is the Resourceful Automobile IPO open?
The IPO will open on August 22, 2024, for QIB, NII, and Retail Investors.
-
What is a Resourceful Automobile IPO Investors Portion?
The investors’ portion for NII is 50%, and Retail is 50%.
-
What is the Resourceful Automobile IPO Size?
The resourceful Automobile IPO size is ₹11.99 crores.
-
What is the Resourceful Automobile IPO Price Band?
The resourceful Automobile IPO Price Band is ₹117 per equity share.
-
What is Resourceful Automobile IPO Minimum and Maximum Lot Size?
The IPO bid is 1200 shares with ₹140,400.
-
What is the Resourceful Automobile IPO Allotment Date?
Resourceful Automobile IPO allotment date is August 27, 2024.
-
What is the Resourceful Automobile IPO Listing Date?
Resourceful Automobile IPO listing date is August 29, 2024—the IPO to list on BSE SME.
-
What is the current GMP of the Resourceful Automobile?
The current GMP of Resourceful Automobile is 105.0 (90%).
RHP:
RHP of Resourceful Automobile Limited IPO.
DRHP:
DRHP of Resourceful Automobile Limited IPO.
-
What is a Resourceful Automobile IPO?
Resourceful Automobile IPO is a BSE SME IPO. They are going to raise ₹11.99 Crores via IPO. The issue is priced at ₹117 per equity share. The IPO is to be listed on BSE.
-
When is the Resourceful Automobile IPO open?
The IPO will open on August 22, 2024, for QIB, NII, and Retail Investors.
-
What is a Resourceful Automobile IPO Investors Portion?
The investors’ portion for NII is 50%, and Retail is 50%.
-
What is the Resourceful Automobile IPO Size?
The resourceful Automobile IPO size is ₹11.99 crores.
-
What is the Resourceful Automobile IPO Price Band?
The resourceful Automobile IPO Price Band is ₹117 per equity share.
-
What is Resourceful Automobile IPO Minimum and Maximum Lot Size?
The IPO bid is 1200 shares with ₹140,400.
-
What is the Resourceful Automobile IPO Allotment Date?
Resourceful Automobile IPO allotment date is August 27, 2024.
-
What is the Resourceful Automobile IPO Listing Date?
Resourceful Automobile IPO listing date is August 29, 2024—the IPO to list on BSE SME.
-
What is the current GMP of the Resourceful Automobile?
The current GMP of Resourceful Automobile is 105.0 (90%).
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