An SME with 2 Yamaha showrooms gets 400x IPO demand, leaves internet baffled

The SME IPO of Resourceful Automobile saw a strong response, with a subscription of nearly 400 times. Despite only running two Yamaha dealerships, the IPO aimed to raise Rs 12 crore and received Rs 2700 crore in bids. Shares were offered at Rs 117 each. Swastika Investmart was the lead manager, and Cameo Corporate Services handled registration.