Royal Sense stock debuts with 90% premium on BSE SME platform

The IPO received decent response from with an overall subscription of over 7 times at close. The issue was entirely a fresh equity issue of 14.5 lakh shares and through the offer, the company raised about Rs 10 crore.

The net proceeds from the public offer will be used for working capital requirements, issue expenses and general corporate purposes.

The company is a supplier of high-quality goods that meet international standards required for hospitals, laboratories, institutions and clinics to provide health services. It trades and offers a wide range of surgical accessories, tools, equipment and other things.

The supplied assortment can be modified according to the requirements of the clients and is offered in a wide range of parameters.

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The company's supplies include medical equipment, surgical instruments, surgical consumables, laboratory equipment, laboratory reagents, disposable medical supplies and diagnostic kits. It has recently extended the supply chain to government e-procurement systems such as tender systems, GEM Portal etc.

Royal Sense supplies its products to the health ministries of various states like Uttar Pradesh, Himachal Pradesh, Rajasthan, Jammu and Kashmir and in domestic by self or through distributors.

The Indian medical devices industry is currently valued at around $5 billion which is 2% of the $250 billion industries. The overall healthcare industry in India is valued at $90 billion which is expected to reach $372 billion by the year 2023.

For the period ended September 2023, the company clocked revenues of Rs 8.04 crore and net profit of Rs 70 lakh.

Expert Global Consultants acted as the lead manager to the issue and Bigshare Services was the registrar.

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