ResGen IPO will open for subscription from 28 February 2023. the company aims for an issue size of ₹28.20 Cr through this IPO.
About Company
Incorporated in 2018, ResGen manufactures Pyrolysis Oil (a substitute for furnace oil) from all kinds of waste plastics. The company was envisioned to make environment-saving projects commercially viable and highly scalable. The heavy usage of plastic in various and diverse segments is creating hazardous issues for the environment and ResGen with its sustainable solution strives at addressing these problems. The company was founded on the idea of using plastic waste and converting it into a substitute for fuel.
ResGen has come up with an ingenious, eco-friendly solution, which uses each by-product to increase efficiency. This not only offers alternate use of plastic waste but adds an additional solution for fuel. ResGen calls this innovation: PlasEco. During the manufacturing of PlasEco, they are able to repurpose the by-products generated, such as Carbon, which substitutes for coal; and Gas, which substitutes for LPG.
Basic details about the company
| Full name | ResGen Limited |
| Sector | Miscellaneous |
| Industry | Miscellaneous |
| Company Website | https://resgen.in/ |
The objective of the Issue
- Working Capital Requirements
- Purchase of the land where our Manufacturing facility is currently situated
- General Corporate Purposes.
IPO Timetable
| IPO Opening date | 28 February 2023 |
| IPO Closing | 02 March 2023 |
| Basis of Allotment | 08 March 2023 |
| Initiation Refund | 09 March 2023 |
| Credit to Demat Account | 10 March 2023 |
| Listing Date | 13 March 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹28.20 Cr – 6,000,000 shares |
| Fresh Issue | ₹28.20 Cr – 6,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹45 to ₹47 per share |
| Lot size | 3000 Shares |
| Market Maker portion | 300,000 shares |
| Retail Allocation | 35% |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹141,000 |
| Retail (Max) | 1 | 3000 | ₹141,000 |
| HNI (Min) | 2 | 6,000 | ₹282,000 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | 9M FY 2023 | |
| Revenue | – | 2.0 | 480.81 | 1,265.34 |
| Expenses | 15.15 | 1.37 | 376.49 | 921.0 |
| Net income | (15.15) | 0.63 | 73.50 | 246.44 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | (0.14) | 0.01 | 0.59 |
| PE ratio | – | – | 76.27 – 79.66 |
| RONW (%) | (0.11) | 0.46 | 20.00 |
| NAV | 1.29 | 1.14 | 2.93 |
| ROCE (%) | (11.13) | 0.08 | 14.57 |
| EBITDA (%) | – | 33.0 | 41.86 |
| Debt/Equity | 0.18 | 7.03 | 2.54 |
Company Promoters
- Mr. Karan Atul Bora
- Mr. Kunal Atul Bora
Promoter Holding
| Pre Issue Share Holding | 94.15% |
| Post Issue Share Holding | 67.22% |
Lead Manager(s)
- Gretex Corporate Services Pvt Ltd
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Telephone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
RESGEN LIMITED
919, Floor 9th, Plot-221,
Maker Chamber V Jamnalal Bajaj Marg,
Nariman Point Mumbai-400021, Maharashtra, India
Phone: 022-22810181
E-mail: info@resgen.in
Website: www.resgen.in
Allotment Status
ResGen IPO allotment status will be available on Bigshare Services’ website. Click on Bigshare Services weblink to get allotment status.
Final thoughts
ResGen IPO is going to hit Dalal street soon. applying for an IPO is purely a personal choice. study well about the company and do 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
