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 name | Organic Recycling Systems Limited |
| Sector | Capital Goods |
| Industry | Engineering |
| Company Website | https://organicrecycling.co.in/ |
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 date | 21 September 2023 |
| IPO Closing | 26 September 2023 |
| Basis of Allotment | 29 September 2023 |
| Initiation Refund | 03 October 2023 |
| Credit to Demat Account | 04 October 2023 |
| Listing Date | 05 October 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹50.00 Cr – 2,500,200 shares |
| Fresh Issue | ₹50.00 Cr – 2,500,200 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹200 per share |
| Lot size | 600 Shares |
| Market Maker portion | 130,200 shares |
| Shareholding pre-issue | 5,199,075 |
| Shareholding post-issue | 7,699,275 |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹120,000 |
| Retail (Max) | 1 | 600 | ₹120,000 |
| HNI (Min) | 2 | 1,200 | ₹240,000 |
Reservation Details
| Other Shares Offered | 50% of the Net Issue Including Qualified Institutional Buyers |
| Retail Shares Offered | 50% of the Net Issue |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 12.52 | 14.61 | 24.72 |
| Expenses | 20.27 | 22.91 | 20.68 |
| Net income | (4.49) | (5.35) | 3.65 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (10.15) | (12.09) | 7.83 |
| PE ratio | – | – | 25.54 |
| RONW (%) | (33.24) | (66.15) | 14.33 |
| NAV | – | – | 49.05 |
| ROCE (%) | 5.41 | 3.91 | 13.06 |
| EBITDA (%) | 26.10 | 14.65 | 46.50 |
Company Promoters
- Mr. Sarang Bhand
Promoter Holding
| Pre Issue Share Holding | 30.14% |
| Post Issue Share Holding | 20.35% |
Lead Manager(s)
ARIHANT CAPITAL MARKETS LIMITED
#1011, Solitaire Corporate Park, Guru Hargovindji Road,
Chakala, Andheri (E), Mumbai – 400 093
Phone: 022-42254800
Email: mbd@arihantcapital.com
Website: www.arihantcapital.com
IPO Registrar
MAASHITLA SECURITIES PRIVATE LIMITED
451, Krishna Apra Business Square,
Netaji Subhash Place, Pitampura, Delhi – 110034
Phone: 011-45121795
Email: ipo@maashitla.com
Website: www.maashitla.com
Contact Details
ORGANIC RECYCLING SYSTEMS LIMITED
Office No. 1003, 10th Floor, The Affaires Plot No. 9,
Sector-17, Sanpada, Navi Mumbai- 400705
Phone: 022-41702222
E-mail: cs@organicrecycling.co.in
Website: www.organicrecycling.co.in
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
