ResGen IPO

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 nameResGen Limited
Company Website

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 date28 February 2023
IPO Closing02 March 2023
Basis of Allotment08 March 2023
Initiation Refund09 March 2023
Credit to Demat Account10 March 2023
Listing Date13 March 2023

IPO details

Issue typeBook Built Issue IPO
IPO issue size₹28.20 Cr – 6,000,000 shares
Fresh Issue₹28.20 Cr – 6,000,000 shares
Offer for saleNil
Face value₹10 per share
Price Band₹45 to ₹47 per share
Lot size3000 Shares
Market Maker portion300,000 shares
Retail Allocation35%
Listing ExchangeBSE SME

IPO Lot Size

Retail (Min)13000₹141,000
Retail (Max)13000₹141,000
HNI (Min)26,000₹282,000

Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Financial Performance

 FY 2020FY 2021FY 20229M FY 2023
Net income(15.15)0.6373.50246.44
(Amount in ₹ Lakhs)

Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio76.27 – 79.66
RONW (%)(0.11)0.4620.00
ROCE (%)(11.13)0.0814.57
EBITDA (%)33.041.86

Company Promoters

  • Mr. Karan Atul Bora
  • Mr. Kunal Atul Bora 

Promoter Holding

Pre Issue Share Holding94.15%
Post Issue Share Holding67.22%

Lead Manager(s)

  • Gretex Corporate Services Pvt Ltd

IPO Registrar

Office No. S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
+91 22 6263 8200

Contact Details

919, Floor 9th, Plot-221,
Maker Chamber V Jamnalal Bajaj Marg,
Nariman Point Mumbai-400021, Maharashtra, India
Phone: 022-22810181

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

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