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Royalarc Electrodes: Royalarc Electrodes shares get listed flat at ₹120!

Royalarc Electrodes had a weak debut on February 21, listing at ₹120 on the NSE SME platform, offering no gains to investors and reflecting a lackluster market response.
Royalarc Electrodes shares debuted flat at ₹120 on NSE SME, matching issue price.
Royalarc Electrodes shares debuted flat at ₹120 on NSE SME, matching issue price.

Royalarc Electrodes had an unimpressive stock market debut on Monday, February 21, with its shares opening at the issue price of ₹120 on the NSE SME platform, showing no initial gain for investors upon listing.

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Royalarc Electrodes IPO saw a total subscription of 1.6 times on Day 3, with Qualified Institutional Buyers (QIBs) subscribing 1.04 times, Non-Institutional Investors (NIIs) at 0.92 times, and Retail Investors leading with 2.2 times the allotted quota, indicating strong demand from retail participants.

Also Read: Stocks in which Franklin India Group bought fresh stake in Q3 to look out for

Royalarc Electrodes Ltd, established in 1996, manufactures welding electrodes, flux-cored wires, MIG/TIG wires, and strip cladding, offering both standard and customized solutions. It also trades ancillary products like abrasive wheels and welding flux. Operating from a 269,198 sq. ft. facility in Zaroli, Umbergaon, Gujarat, it serves domestic and export markets.

Also Read: Financially strong defence stocks with low PE ratio to look out for

Royalarc Electrodes Ltd aims to use IPO proceeds for expanding its Zaroli, Umbergaon facility with a ₹488.66 lakh investment, allocating ₹1,650 lakhs for working capital, and funding general corporate purposes, ensuring compliance with SEBI ICDR regulations.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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