&w=3840&q=100)
Regaal Resources IPO subscribed 5.94 times on the first day of offer
The initial share sale got bids for 12,47,19,552 shares against 2,09,99,664 shares on offer, according to NSE data.
Non Institutional Investors part fetched 10.77 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 5.58 times. Qualified Institutional Buyers (QIBs) category received 2.94 times subscription.
Regaal Resources Ltd on Monday mobilised around Rs 92 crore from anchor investors.
The price band has been fixed at Rs 96-102 per share.
The IPO has a fresh issue of shares worth Rs 210 crore and an offer-for-sale of 94.12 lakh shares valued at Rs 96 crore by promoters, at the upper end of the price band. This aggregates the issue size to Rs 306 crore.
Following the issue, the promoters' stake will reduce to approximately 71 per cent from 100 per cent.
Of the fresh issue proceeds, Rs 159 crore will go towards repayment or pre-payment of certain borrowings.
Regaal Resources operates a zero liquid discharge maize milling facility catering to customers in food products, paper, animal feed and adhesives across India, and in export markets such as Nepal and Bangladesh.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
25 minutes ago
- First Post
Suhail Chandhok exclusive on growing a team in non-cricket market: 'We are a nation that loves heroes, not necessarily the sport'
U Mumba CEO and TV presenter Suhail Chandhok, in this exclusive chat with Firstpost, spoke about the challenges he faces as sports administrator, India's sporing culture and the future of Indian sports. Suhail Chandhok has worn many hats, including those of a cricketer, an actor, a TV presenter, and now CEO of U Mumba. However, he says that the transition to the administration side of this industry was 'natural' for him. In an exclusive interview with Firstpost, Suhail spoke about his journey, the challenges of being a young CEO, and his belief in building the right team culture. His love for sport began on the field, and when his playing days ended, he found a job as a TV presenter/commentator, doing stints for the Pro Kabaddi League, the Indian Premier League, and other sports. Now, Suhail has moved to the business side with kabaddi becoming his launchpad. STORY CONTINUES BELOW THIS AD On the financial side, Suhail revealed that sponsorship for non-cricket leagues hovers between Rs 3.5-5 crore a season, but he stressed that media rights are the real game-changer and play a big role in revenue generation. Suhail urged that more media platforms must back Indian sports. 'I think sponsorship is always something that is going to dictate a measure of success in some sense but I think that's not necessarily right, because sponsorship is only one metric of value. For instance, yes, you know, some teams are more successful than, let's say, three or four other leagues, whether it be volleyball, kho-kho, tennis, or badminton.' 'However, I think there is value that each sport brings to its own niche. Having said that, it has roughly been around the four to five crore mark in terms of sponsorship. That goes up and down, it yo-yos between three-and-a-half to four-and-a-half, five crores per season. 'Media rights are a big unlocking value, and I think we have to understand that media rights will always drive the overall value of a sport, of a franchise, of a team. That will continue to dictate value. However, that's where the market plays a big role. Today, we're again heading into what is potentially a monopoly market of Jio and Star coming together and I do hope that unlocking value continues. STORY CONTINUES BELOW THIS AD Suhail also warned about the growing trend of big conglomerates controlling all the stakes in major sporting leagues in India, especially in terms of broadcast. 'We shouldn't lean on a monopoly market. I do hope to see more and more media houses come in that want to house sport, whether it be global entities entering India, like Netflix and the WWE deal. It's a great dictate for what the future of sport might look like. When you look at the effect that a Formula 1 movie has had, or a Drive to Survive show has had, or WWE now being on Netflix, I do hope more global platforms look at Indian sport and Indian leagues as a potential. I think the next ten years are going to be very strong for India, and more platforms need to enter the market.' Suhail on taking PKL to next level The Pro Kabaddi League (PKL) has already grown into one of the biggest sporting leagues in India, second only to the IPL in stature. Suhail opened up about the gaps that can be filled by the PKL organisers to make the league even bigger in India. 'I think listening to the franchises' needs a little bit more is important. All of us – all 12 teams – are looking to work with the PKL to grow the sport. What we need to do is unlock the true value of the sport. While the league, as an entity, is largely owned by the broadcaster, I think we still need to separate the two and work with the teams, the stakeholders of the sport, and others who are genuinely trying to promote it.' STORY CONTINUES BELOW THIS AD 'We must also clamp down on any rubbish that's going on. We need to be very stern and focused on the progress of the sport in one clear direction. The league has done a fabulous job of building it to where it is today, but now it's the league's responsibility to take it up an extra notch. How do we commit to the future of the sport when we already have such strong stakeholders?' 'In terms of stature, I think only the IPL is a rival. We have the Kotak family, the Screwvala family, the Adanis, JSW, the Bachchans, Capri Global, and other private investors in the mix. This is a strong core group of team owners who are not looking for a quick exit, which means the sport is in safe hands. When the sport is in safe hands, it's our responsibility to stay true to it, unlock its value, and not stunt its growth.' STORY CONTINUES BELOW THIS AD Suhail believes that it is important to support new entrants because it will only help the sport grow. 'It's equally important to support others around the sport who are trying to do good for it. At Elev8 India Sports, we follow a 'copyleft' policy – we want to see more and more people come in. It's not about copyright and blocking; it's about allowing people to enter, contribute, and help the sport grow. Kabaddi is still at a nascent stage, so we need more people to talk about it, work for it, and build it up. Blocking new entrants will only curb enthusiasm and growth.' Suhail stressed that growing the sport is not just the league's job, but a shared duty for everyone involved. 'Everyone has a responsibility to help the sport grow. At the same time, we must educate players about what is right and wrong. Addressing certain issues today will help the sport clean up its act for the future as well.' STORY CONTINUES BELOW THIS AD Suhail on issues non-cricket leagues face Suhail also talked about the challenges that a growing sport like kabaddi faces. He said that when big money enters a sport suddenly, it can sometimes distract players from the true motivation of why they started playing in the first place. 'When a lot of money comes into the sport very very quickly, players stop understanding what the true value of why they are playing this game. You start to play for the auction or you start to play for your personal value rather than the value of a team. I think it's only very natural. It happened with the IPL when there was sudden unlocking of value where players started playing for their franchises rather than playing for their nations. Rather than committing to the calender of a country, they started playing where the money was. That is happening with kabaddi as well and I think helping players understand why they are playing this sport, why the sport has give them so much.' STORY CONTINUES BELOW THIS AD 'So, player education is important. At Elev8 India Sportz Yuva Series we do a lot of financial literacy, we do a lot player psychology, we work with players understand anti-corruption, what their true value is.' Suhail on positive and negative trends in non-cricket leagues Suhail said the most promising sign is that Indian sports culture is slowly expanding beyond cricket. However, he pointed out that India's tendency to idolise individuals rather than the sport itself is a major issue. 'I think the trend is that we are leaning towards not just cricket. And I think that's something that has to happen for a country to become a true sporting nation. Firstly, there's one big challenge in India: we are a nation that loves heroes and not necessarily the sport. When I worked on the badminton league, people would rush to watch your PV Sindhu versus Saina Nehwal.' 'But when you had a Carolina Marin facing off against a world number two and number one at the time, the stadium would be empty. So we appreciate heroes and not the sport, and I think that needs to change for India to take steps towards becoming a true sporting nation. However, look at the flip side — while we turned up in large numbers to watch a javelin event, we may have all turned up in 10,000 numbers to watch a Neeraj Chopra.' STORY CONTINUES BELOW THIS AD 'But when you get there and watch Neeraj Chopra, you start to understand what the sport of javelin even is. So I think it takes a hero to bring about awareness to a sport and vice versa. But at the same time, I do hope that while 10-15,000 people turned up to watch a javelin event in Bangalore — and I think that's a sign that India is heading in the right direction — I hope that tomorrow, when Neeraj Chopra is not necessarily the only guy that's there, at least 5,000 people do turn up to watch a javelin event.' 'And I think that's going to be the hallmark of success going forward. Because while we are talking about a 2036 Olympic bid, I hope that we understand that we have to build sporting culture, and that starts with everyone playing a sport. When you play a sport, you'll automatically tune into watching a sport. And I think that's what I want for all of us to do.' 'But I think the trend is very positive — more and more people are taking to a tennis court, a badminton court, a table tennis table, a pickleball court, a paddle court, playing football with their friends, playing kabaddi with their friends in their neighborhood.' Suhail on turning down offers from IPL teams Suhail revealed that he turned down management offers from teams in three different sports, including IPL franchises, before joining U Mumba at what he called 'the right time.' 'I unfortunately can't give you a full disclosure on those. All I will say is it's been across three different sports. I think the timing was such that it came at the right time with kabaddi. Since then, there's been a couple of others as well, including IPL teams. I will come back to I guess cricket in many ways and forms was one opportunity that, that came and went. I just thought that it would've taken a much bigger commitment in terms of time, and I don't think I would've been able to do broadcast at all if I took on a slightly larger commitment as well,' he said. 'Uh, but also I think it was the ability to do it at the right time, right? And I've always been someone that believes that things happen when they need to happen. And I think, you know, saying yes to the right opportunity is absolutely critical as well. There have been opportunities not just in India, but outside of India as well — again, very exciting stuff. And it's always nice to know you're wanted, right? I think that means you're doing something right.' Suhail on his equation with U Mumba owner Ronnie Screwvala While Suhail doesn't own a stake in U Mumba, he has full autonomy in running things as a CEO. He also acknowledged that he leans on his father-in-law, Ronnie Screwvala (owner of parent group U Sports), for advice related to the finances of the team. 'Unfortunately, not (on being asked if he owns a stake in U Sports). I am purely here as a consultant and a CEO. But look, I think there are positives and negatives to being so closely related to a franchise and to the owner of a team, especially when someone is of Ronnie's stature as well. I think he's an extremely hard taskmaster, and I think with that comes two sides, right? You have to have a great deal of transparency and honesty with yourself and, therefore, with him as well, and I was very clear about it when I took on the role." 'I think there's even more pressure when you take on a role where you're so closely related. There's so much more that you have to have in terms of belief so that you can put aside anything that anyone could potentially say. The good thing is that everyone knows I come in with a lot more sporting knowledge than many others here, and I think that for me was the number one conversation I had with Ronnie. I said, 'You know what? If it's a business decision, if it's something related to finance, I want to make sure that the door to you is open and I can come and have a chat and get the advice I need from you. But when it comes to sporting decisions, they have to be mine and mine alone.' And, you know, to this date, he's honoured that.' 'But at the same time, when it comes to the business side of things, I have the ability to tap his brain, and I think that's something wonderful to have. So while there is the added pressure of that, I think when you have the conviction of knowing you know the subject better than anyone else, you go in with that confidence.'
Indian Express
an hour ago
- Indian Express
Express View on PM Modi's Independence Day speech: Hope, not fear
Prime Minister Narendra Modi's Independence Day speech, his 12th in a row, was delivered against the backdrop of a global economy roiled by unpredictability, turmoil and upheaval. PM Modi did not name him but Donald Trump and the tariff regime the US President has unleashed, lurked, between the lines, as both presence and shadow. For the most part, the PM spoke of how India needs to enliven the 'Make in India' and 'Vocal for Local' mantras, and install self-reliance at the heart of the country's development strategy and growth model. The message was: In times when the Trump tariff regime is impacting exports, and when disruptions in global supply chains are threatening to squeeze imports, India must focus on strengthening the domestic economy by pursuing the path of self-sufficiency or 'aatmanirbharta'. PM Modi reminded the nation of India's proven 'samarthya' or capability — when it took the lead in manufacturing the coronavirus vaccine, not only for itself, but also for the world; and more recently, when, powered by indigenous weapon systems, it conducted Operation Sindoor. This is not the first time that PM Modi has spoken of the need to Make in India, or extolled the virtues of aatmanirbharta. But this I-day speech was remarkable for the urgency with which it sought to connect the dots from Atmanirbhar Bharat to Viksit Bharat and national security, framing it as a matter not merely of import-export but as a test of a nation's very 'aatma samman' or self-respect: 'Hum nahin banayenge? Hum nirbhar rahenge? (Why will we remain dependent on others)?' He exhorted the young and the entrepreneurs, the scientists and the private sector, to come forward and fill the gaps with ideas and innovations — to make India's own fertiliser and semiconductor, and to be self-reliant in clean energy and critical minerals. The government, he said, would encourage and enable them through the next generation of reforms, for which he announced a special task force. But as much as the PM sought to exhort and energise, and even as he tapped into his countrymen and women's ambitions and optimism — he announced a special Diwali bonanza of GST reform, a Rs 1 lakh crore Rozgar Yojana for the young, invoked the symbolism of naari shakti, space start-ups and Shubhanshu Shukla's odyssey — he also painted a gathering spectre. Illegal immigrants or 'ghuspaithiye', he said, are snatching Indians' jobs, taking away land from tribal populations, endangering India's 'behan-beti' or women. His government would, therefore, set up a high powered Demography Mission. While illegal immigration is a resonant issue that is becoming bigger across the world, riding on the back of nationalist politics and populist movements, the PM's highlighting of it has a disquieting domestic backdrop — of growing incidents of violence against Bengali-speaking migrants in states, and the ongoing controversy over voters' lists. The BJP's defeat in the Jharkhand assembly election may have pointed to the limits of 'illegal immigration' as an electoral plank, but in a diverse country, it is still an issue that is fraught, one that can propel a politics of distrust and fear. The PM's playing up of the dark motif of the 'ghuspaithiya', coupled with his tribute to the RSS from the ramparts of Red Fort, showed an unmistakable ideological layering of his message. For the nation, they frame the challenge that lies ahead: Of finding a way forward that sidesteps the fear and embraces the hope.
Hans India
2 hours ago
- Hans India
Tirupati sets 16.69% growth target, eyes major industrial & tourism boost
Tirupati: Minister for Endowments Anam Ramanarayana Reddy announced that the district aims to increase its Gross District Domestic Product (GDDP) from Rs 91,478 crore to Rs 1,69,633 crore, marking a targeted growth rate of 16.69 percent. In line with the Swarnandhra@2047 Vision Plan guidelines, comprehensive vision documents have been prepared for Tirupati district, including constituency-level and mandal-level plans. The Minister, who was the chief guest at the 79th Independence Day celebrations in Tirupati on Friday, hoisted the national flag and received a police guard of honour before addressing the gathering. District Collector Dr S Venkateswar, SP V Harshavardhan Raju, Joint Collector Shubham Bansal, Municipal Commissioner N Mourya, and other senior officials attended the celebrations. On this occasion, Reddy highlighted the district's priorities for the future and key achievements over the past year. By implementing the district and mandal vision plans over the next five years, and through coordinated efforts across all departments, the Minister projected that the district's per capita income would rise to Rs 6,01,297 by 2028–29. Under the P4 initiative, 6,197 mentors have so far adopted 60,997 'golden families' out of 80,477 identified in the district. Emphasising the district's favourable environment for industrial investment, the Minister said that 131 mega and large-scale industries have already been established in Tirupati district with an investment of Rs 37,154 crore, generating employment for 75,791 people. In the current financial year alone, 5,886 micro, small, and medium enterprises (MSMEs) have commenced production with an investment of around Rs 191 crore, creating jobs for an additional 12,129 individuals. On tourism, he said the district holds vast potential for growth, with plans to develop temple circuit tourism, beach tourism, and resort facilities to encourage pilgrims to extend their stay by an extra day. Tableaus presented by various departments – including Industries & APIIC, Agriculture, Horticulture & APMIP, DRDA & MEPMA, Municipal Corporation, Tourism, Fire Services, NREDCAP, Education (DEO), and DWMA – attracted wide attention. The Tirupati Municipal Corporation's tableau won first prize, DRDA & MEPMA jointly secured second, and the Agriculture Department took third place. A special jury award was presented to a tableau on Swarna Naravaripalle, jointly exhibited by the District Panchayat Raj and APSPDCL. The Minister also visited departmental stalls showcasing development activities and presented merit certificates to outstanding government staff. Cultural performances at the event received enthusiastic applause from the audience. City MLA Arani Srinivasulu, MLC Balli Kalyana Chakravarthy, Yadava Corporation Chairman G Narasimha Yadav and other leaders were present.
