Resourceful Automobile Ltd IPO

Resourceful Automobile Limited was originally incorporated as Resourceful Automobile Private Limited on February 21st, 2018 under the provisions of the Companies Act, 2013 vide Certificate of Incorporation issued by the Registrar of Companies, Delhi & Haryana. Later on, company was converted into public limited company, the name of the Company was changed to Resourceful Automobile Limited and fresh Certificate of Incorporation dated October 25th, 2023 was issued by the Registrar of Companies Delhi & Haryana.

The two-wheeler market in India has expanded significantly, and it now plays a crucial role in the nation's transportation infrastructure. India has seen rapid expansion in the two-wheeler sector, making it one of the biggest in the world. Due to their cost, convenience, and efficiency in crowded metropolitan areas, two-wheelers, particularly motorcycles and scooters, are quite popular. The Indian two-wheeler industry has witnessed a steady increase in and production over the years contributing to this growth include rising disposable incomes, expanding middle-class, improving infrastructure, and increasing urbanization Additionally, the easy availability of financing options has made two-wheelers more accessible to a broader consumer base. In order to meet the diverse demands and tastes of its customers, major local and foreign businesses compete in the Indian two-wheeler industry by offering a variety of models. Intense rivalry on the market drives ongoing product innovation, technical improvements, and aggressive marketing tactics.

The Company is engaged in the business as per Memorandum of Association of the company of buying, selling, dealing in, automobiles, motorcars, lorries, buses, vans, motorcycles, cycle-cars, motor, scooters, carriages, amphibious vehicles, and vehicles suitable for propulsion on land, sea or in the air or in any combination thereof and vehicles of all descriptions, whether propelled or assisted by means of petrol, diesel, spirit, steam, gas, electrical, animal, or other power, and of internal combustion and other engines, chassis-bodies and other components, parts and accessories and all machinery, implements, utensils, appliances, apparatus, lubricants, solutions enamels and all things capable of being used for, in, or in connection with maintenance, and working of motors.