Organic Recycling Systems IPO

Organic Recycling Systems IPO will open for subscription from 21 September 2023. The company aims for an issue size of ₹50 Cr through this IPO.

Company Overview

Full nameOrganic Recycling Systems Limited
SectorCapital Goods
Company Website

About Company

Incorporated in 2008, Organic Recycling Systems focuses primarily on developing robust, cost-effective & environment-friendly technologies that are simple to operate. It has proven capabilities of successfully running one of India’s first Waste to Energy (WTE) plants developed on anaerobic biomethanation technology. The anaerobic bio methanation technique has been recognized as a promising technology as per the National Master Plan issued by the government of India, it has also set up an MSW processing and disposal plant in Solapur, Maharashtra to convert Municipal Solid Waste (MSW) into electricity and compost.

The business verticals include the Build Own Operate Transfer (BOOT) model, the Engineering Procurement and Commissioning (EPC) model, and the supply of key equipment.

The Objectives of the Issue

  • Reduction of the aggregate outstanding borrowings of the Company.
  • Towards general corporate purposes.

IPO Timetable

IPO Opening date21 September 2023
IPO Closing26 September 2023
Basis of Allotment29 September 2023
Initiation Refund03 October 2023
Credit to Demat Account04 October 2023
Listing Date05 October 2023
(Cut-off time for UPI mandate confirmation – 5 PM on September 26, 2023)

IPO details

Issue typeFixed Price Issue IPO
IPO issue size₹50.00 Cr – 2,500,200 shares
Fresh Issue₹50.00 Cr – 2,500,200 shares
Offer for saleNil
Face value₹10 per share
Offer Price₹200 per share
Lot size600 Shares
Market Maker portion130,200 shares
Shareholding pre-issue5,199,075
Shareholding post-issue7,699,275
Listing ExchangeBSE SME

IPO Lot Size

Retail (Min)1600₹120,000
Retail (Max)1600₹120,000
HNI (Min)21,200₹240,000

Reservation Details

Other Shares Offered50% of the Net Issue Including Qualified Institutional Buyers
Retail Shares Offered50% of the Net Issue

Financial Performance

 FY 2021FY 2022FY 2023
Net income(4.49)(5.35)3.65
(Amount in ₹ Crores)

Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio25.54
RONW (%)(33.24)(66.15)14.33
ROCE (%)5.413.9113.06
EBITDA (%)26.1014.6546.50

Company Promoters

  • Mr. Sarang Bhand

Promoter Holding

Pre Issue Share Holding30.14%
Post Issue Share Holding20.35%

Lead Manager(s)

#1011, Solitaire Corporate Park, Guru Hargovindji Road,
Chakala, Andheri (E), Mumbai – 400 093
Phone: 022-42254800

IPO Registrar

451, Krishna Apra Business Square,
Netaji Subhash Place, Pitampura, Delhi – 110034
Phone: 011-45121795

Contact Details

Office No. 1003, 10th Floor, The Affaires Plot No. 9,
Sector-17, Sanpada, Navi Mumbai- 400705
Phone: 022-41702222

Allotment Status

Organic Recycling IPO allotment status will be available on the Maashitla Securities website. Click on Maashitla Securities IPO weblink to get allotment status.

Final thoughts

Organic Recycling Systems IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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