Resourceful Automobile IPO: Price band set at ₹117 per share; check other details here

The price band for the IPO of Resourceful Automobile has been set at ₹117 per equity share. The company aims to raise ₹11.99 crore through this initial public offering, which is entirely a fresh issue of 10.25 lakh shares.

The IPO will open for bidding on Thursday, August 22, and will remain open until Monday, August 26. Swastika Investmart Ltd is serving as the book-running lead manager for the Resourceful Automobile IPO, while Cameo Corporate Services Limited is the registrar. Nikunj Stock Brokers is the market maker for the IPO.

The net proceeds from the IPO will be used for the expansion of the company by opening new showrooms in Delhi/NCR, repayment of debt, meeting incremental working capital requirements, and for general corporate purposes, including covering public issue expenses.

The allotment of shares for the Resourceful Automobile IPO is expected to be finalised on Tuesday, August 27, 2024, with the tentative listing on the BSE SME scheduled for Thursday, August 29, 2024.

Retail investors can participate in the IPO by bidding for a minimum of one lot, which consists of 1,200 shares. The minimum investment required for retail investors would be ₹1,40,400.

About the company

The company operates under the showroom name “Sawhney Automobiles” and specialises in the dealership of Yamaha two-wheelers. Sawhney Automobiles caters to a wide range of customer needs by offering a comprehensive selection of two-wheelers, including commuter bikes, sport bikes, cruisers, and scooters from reputable manufacturers.

As an authorised Yamaha dealership, the company ensures customers have access to the latest models and genuine spare parts. In addition to sales, the dealership provides expert guidance to help customers choose the right bike, arranges test rides, and offers financing options to enhance accessibility, according to the company's DRHP report. 

The company currently operates two concept-driven showrooms, each with an integrated workshop. The Blue Square outlet, located in Dwarka, New Delhi, showcases Yamaha’s entire range of two-wheelers, along with apparel and accessories.

The other showroom, situated on Palam Road, New Delhi, focuses on offering a wide selection of premium and distinctive two-wheelers. This location features the latest models from Yamaha India, as well as a diverse collection of motorbikes.

Looking ahead, the company is committed to growth and innovation in the dynamic two-wheeler industry. By staying attuned to market trends, maintaining strong customer relationships, and embracing emerging technologies, Sawhney Automobiles aims to solidify its position as a leading destination for two-wheeled mobility.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.