Organic Recycling Systems was founded on August 29, 2008. The engineering firm specializes in environmental solutions, offering waste management services for various types of waste throughout the value chain.
| Bidding Dates |
|---|
| 21 Sep 2023 - 26 Sep 2023 |
| Subscription |
|---|
| 3.13x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 600 | 2.5 M | ₹200 | 67.53 % | ₹500.0 M | RHP DOC |
Organic Recycling IPO SUBSCRIPTION STATUS
26 Sep '23Organic Recycling IPO overall subscription rate was 3.13 times the total available shares
Organic Recycling IPO retail subscription rate was 2.09 times in the retail segment
Organic Recycling IPO non-institutional investor subscription rate was 4.16 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
26 Sep 2023 (Day 4) | 2.09x | 4.16x | - |
25 Sep 2023 (Day 3) | 1.03x | 1.97x | - |
22 Sep 2023 (Day 2) | 0.36x | 1.62x | - |
21 Sep 2023 (Day 1) | 0.16x | 0.81x | - |
Organic Recycling 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) | Margins |
| FY23 | 36.5 | 247.2 | -237.0 | -249.7 | 46.5% |
| FY22 | -53.5 | 146.1 | 78.4 | 43.0 | 14.7% |
| FY21 | -44.9 | 125.2 | -2.2 | -7.9 | 26.1% |
Organic Recycling IPO SUBSCRIPTION STATUS DETAILS
Organic Recycling had 2.5 M shares on offer
Organic Recycling IPO offer price was ₹200
Organic Recycling IPO minimum Investment was ₹120000
Organic Recycling IPO issue size was ₹ 500.0 M
Organic Recycling had a minimum lot size of 600 Shares per application
Organic Recycling NUMBER OF SHARES ON OFFER
Organic Recycling IPO IMPORTANT DATES
| Issue Open Date | 21 Sep 2023 |
| Issue close Date | 26 Sep 2023 |
| Allotment Date | 29 Sep 2023 |
| Refund Date | 03 Oct 2023 |
| Demat Account Credit Date | 04 Oct 2023 |
| Listing Date | 06 Oct 2023 |
| Listing on Exchange(s) | BSE |
| Organic Recycling Allotment Status | Exchange |
Organic Recycling IPO subscription opened on 21 Sep 2023, and closed on 26 Sep 2023
IPO allotment for Organic Recycling was finalized on Friday, 29 Sep 2023
IPO listing for Organic Recycling was on BSE on Friday, 06 Oct 2023
Organic Recycling IPO LISTING GAINS
| Issue Price (adjusted) | 200.0 |
| Listing Open Price | 215.0 |
| Listing Close Price | 225.8 |
| Listing Gain% | 7.5% |
| Current Gain% | 20.5% |
Organic Recycling 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Organic Recycling Systems Ltd. | 241 | 185.6 | 7.4 | 0.1 | 1.8 | 20.4 | 11.9 | 105.7 | 116.9 | 25.1 | 59.6 | 32.6 | 59.6 |
| EMS Ltd. | 404.4 | 2245.7 | 24.8 | -0.5 | 3.1 | 8.6 | 6.8 | 745 | -24.1 | 90.5 | -50.7 | 16.3 | -50.8 |
| Antony Waste Handling Cell Ltd. | 415.8 | 1180 | 15.6 | -1.3 | 1.1 | 10.2 | 4.3 | 1084.1 | 13.1 | 75.4 | -11.6 | 26.6 | -11.6 |
| Eco Recycling Ltd. | 498.4 | 961.8 | 41.5 | 73.6 | 20 | 20.9 | 17.2 | 52.8 | 14.1 | 23.1 | -64.9 | 12 | 0.6 |
| Concord Enviro Systems Ltd. | 276 | 571.1 | 39.1 | -0.5 | 1 | 3.4 | 2.1 | 585.7 | -2.3 | 19.8 | -61.6 | 7 | -71.7 |
| Hi-Green Carbon Ltd. | 139 | 347.2 | 101.2 | 3.8 | 2 | 141.3 | 43 | 3.4 | -69.2 | 1.4 |
Organic Recycling INFORMATION ON IPO ISSUE
About Organic Recycling
Organic Recycling Systems was founded on August 29, 2008. The engineering firm specializes in environmental solutions, offering waste management services for various types of waste throughout the value chain.
Object of the Issue
- Reduction of the aggregate outstanding borrowings of the company
- Towards general corporate purposes
Organic Recycling - PROMOTERS
| Name |
|---|
| Sarang Bhand |
Organic Recycling Lead Manager of the Issue
Arihant Capital Markets Limited
mbd@arihantcapital.com
Organic Recycling Registrar to the issue
Maashitla Securities Private Limited
ipo@maashitla.com
Organic Recycling Strengths
Lucrative prospects
The estimated average per capita solid waste generation in Indian cities is approximately 0.39 kg per day. The total market opportunity in this sector is projected to be around $60 billion until 2025
Penetration into multiple business verticals
The company has diversified into multiple business verticals, including project development and technology licensing through its EPC (Engineering, Procurement, and Construction) division, as well as product and consulting divisions
Organic Recycling Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its subsidiaries, directors and promoter
Negative financials
The company has reported losses and negative cash flows in previous years, and there's a risk that this trend may continue in the future
IPO FAQs
The promoter of the company is Sarang Bhand.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 200.0 - 200.0.
The IPO application opens on Sep 21, 2023 and closes on Sep 26, 2023.
The minimum lot size for the IPO is 600. The maximum lot size for the IPO is 600.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Sep 29, 2023.
The refund will be credited to your account on Oct 03, 2023.
The allotted shares will be credited to your demat on Oct 04, 2023.
Organic Recycling Systems Ltd.’s shares listed on the stock exchanges on Oct 06, 2023.