ResGen, incorporated on September 29, 2018, is engaged in the process of manufacturing pyrolysis oil (a substitute for furnace oil) from plastic waste.
| Bidding Dates |
|---|
| 28 Feb 2023 - 02 Mar 2023 |
| Subscription |
|---|
| 2.5x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,41,000 | 1 | 1 | 3000 | 6.0 M | ₹45 - ₹47 | 71.39 % | ₹270.0 M - ₹282.0 M | RHP DOC |
ResGen IPO SUBSCRIPTION STATUS
02 Mar '23ResGen IPO overall subscription rate was 2.5 times the total available shares
ResGen IPO retail subscription rate was 3.87 times in the retail segment
ResGen IPO non-institutional investor subscription rate was 3.87 times in the non-institutional investor category
ResGen IPO Qualified Institutional Bidder subscription rate was 1.09 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
02 Mar 2023 (Day 3) | 3.87x | 3.87x | 1.09x |
01 Mar 2023 (Day 2) | 1.44x | 0.97x | 0.75x |
28 Feb 2023 (Day 1) | 0.8x | 0.63x | 0.38x |
ResGen FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| Period ended Dec 5, 2022 | 24.6 | 126.5 | 5.8 | 5.6 |
| FY22 | 7.4 | 48.1 | -13.6 | -111.0 |
| FY21 | 0.1 | 0.2 | 16.5 | 16.5 |
ResGen IPO SUBSCRIPTION STATUS DETAILS
ResGen had 6.0 M shares on offer
ResGen IPO offer price was in the range ₹45 - ₹47
ResGen IPO minimum Investment was ₹141000
ResGen IPO issue size was ₹ 270.0 M - ₹ 282.0 M
ResGen had a minimum lot size of 3000 Shares per application
ResGen NUMBER OF SHARES ON OFFER
ResGen IPO IMPORTANT DATES
| Issue Open Date | 28 Feb 2023 |
| Issue close Date | 02 Mar 2023 |
| Allotment Date | 08 Mar 2023 |
| Refund Date | 09 Mar 2023 |
| Demat Account Credit Date | 10 Mar 2023 |
| Listing Date | 13 Mar 2023 |
| Listing on Exchange(s) | BSE |
| ResGen Allotment Status | Exchange |
ResGen IPO subscription opened on 28 Feb 2023, and closed on 02 Mar 2023
IPO allotment for ResGen was finalized on Wednesday, 08 Mar 2023
IPO listing for ResGen was on BSE on Monday, 13 Mar 2023
ResGen IPO LISTING GAINS
| Issue Price (adjusted) | 47.0 |
| Listing Open Price | 49.0 |
| Listing Close Price | 46.6 |
| Listing Gain% | 4.3% |
| Current Gain% | -0.5% |
ResGen Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ResGen Ltd. | 46.8 | 98.1 | 9.6 | 0.3 | 1.3 | 15 | 13.6 | 72.7 | 11.6 | 10.2 | 27.9 | 4.9 | 27.9 |
| Solar Industries India Ltd. | 18587 | 168193.9 | 100.3 | 2.6 | 17.1 | 26.7 | 15.4 | 9965.7 | 30.9 | 1677.6 | 38.7 | 185.4 | 38.7 |
| PTC Industries Ltd. | 18963 | 28430.3 | 279.9 | 4.2 | 47.2 | 6.7 | 5.2 | 643.3 | 88 | 101.6 | 66.4 | 67.7 | 66.4 |
| Inox India Ltd. | 1930 | 17517.4 | 68.7 | 7.9 | 10.8 | 23.1 | 12.8 | 1632.3 | 21.2 | 257.9 | 14.1 | 28.1 | 8.7 |
| Precision Wires India Ltd. | 429.3 | 7847.9 | 44.9 | 0.5 | 1.3 | 20.1 | 6.9 | 5463.4 | 35.4 | 155.3 | 72.4 | 9.6 | 84 |
| Kennametal India Ltd. | 3494.8 | 7680.9 | 55.5 | 1.5 | 5.7 | 13.8 | 10.6 | 1184.7 | 6.6 | 102.9 | -6.9 | 63 | 35.9 |
ResGen INFORMATION ON IPO ISSUE
About ResGen
ResGen, incorporated on September 29, 2018, is engaged in the process of manufacturing pyrolysis oil (a substitute for furnace oil) from plastic waste.
Object of the Issue
- Working capital requirements
- Purchase of the land where the manufacturing facility is currently situated
- General corporate purposes
ResGen - PROMOTERS
| Name |
|---|
| Karan Atul Bora |
| Kunal Atul Bora |
ResGen Lead Manager of the Issue
Gretex Corporate Services Limited
info@gretexgroup.com
ResGen Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
ResGen Strengths
Decoded formula for pyrolysis
The company has successfully decoded the formula for pyrolysis, which is complex and requires high operational and investment costs
Strategic location
The company has set up its manufacturing unit in a very strategic area of Maharashtra. The basic raw material required for the manufacturing facility is plastic waste and it is easily available at industrial areas
Quality assurance
The company is dedicated to the quality of the products, processes and raw materials. It adheres to quality standards as prescribed by the customers to meet the desired requirement
ResGen Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, promoters and directors. Any adverse decision in such proceedings may harm the business, results of operations and financial condition
Limited experience
The company has a limited experience and operating history in the core business activity, which makes it difficult to accurately assess future growth prospects and may negatively affect the business
IPO FAQs
The promoters of the company are Karan Atul Bora and Kunal Atul Bora.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 45.0 - 47.0.
The IPO application opens on Feb 28, 2023 and closes on Mar 02, 2023.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 141,000.0, the maximum value for this IPO is Rs 141,000.0.
This IPO will be allotted on Mar 08, 2023.
The refund will be credited to your account on Mar 09, 2023.
The allotted shares will be credited to your demat on Mar 10, 2023.
ResGen Ltd.’s shares listed on the stock exchanges on Mar 13, 2023.