From a small firm to market sensation: Resourceful Automobile’s Rs 12 Cr IPO stuns the market.

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The IPO receives a staggering 400x subscription, attracting bids worth Rs 4,800 crore.

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Retail investors lead the charge with 496x subscription, making headlines.

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Grey market premium suggests a 90% gain, with an estimated listing price of Rs 222 per share.

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Resourceful Automobile plans to use the IPO funds to expand operations and repay debt.

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Veteran fund managers and investors debate the surprising success of this small firm’s IPO.

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The company offered 10.2 lakh shares at a fixed price of Rs 117 each, attracting HNIs and retail investors alike.

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Resourceful Automobile to list on the BSE SME platform on August 29, 2024.

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Market experts question the IPO’s success given the company’s small size and modest profits.

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Resourceful Automobile’s success story continues to spark conversations in the investment world.

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