Organic Recycling Systems Limited IPO Detail
Incorporated in 2008, Organic Recycling Systems Limited is an engineering company offering sustainable waste management solutions.
Organic Recycling Systems's business verticals include the Build Own Operate Transfer (BOOT) model, the Engineering Procurement and Commissioning (EPC) model and the Supply of Key Equipment. The company offers services such as EPC (Engineering, Procurement, and Construction) services in waste management, commissioning services, consulting and advisory services in the waste management sector, planning, building, and managing waste management projects, laboratory services and more.
Organic Recycling Systems (ORS) also set up an MSW processing and disposal plant in Solapur, Maharashtra to convert Municipal Solid Waste (MSW) into electricity and compost.
ORS has developed a patented DRY ANAEROBIC DIGESTION (DRYAD) technology which is capable of treating several kinds of waste and the same is also proven through its use in the Solapur plant.
Competitive Strength:
Proven Technology and capability.
Penetration into Multiple Business Verticals.
Lucrative Prospects of the Market.
UN Sustainability Development Goals.
Experience of the Promoters and Management personnel.
Company Promoters
Mr. Sarang BhandIPO Details
| IPO Opening Date | Sep 21, 2023 |
| IPO Closing Date | Sep 26, 2023 |
| Issue Type | Fixed Price Issue FPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹200 per equity share |
| Market Lot | 600 Shares |
| Min Order Quantity | 600 Shares |
| Listing At | BSE SME |
| Issue Size | ₹50.00 Cr |
| Fresh Issue | ₹50.00 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.85x | 0.17x | 0.51x | |
| Day 2 | - | - | 1.59x | 0.38x | 0.99x | |
| Day 3 | - | - | 1.97x | 1.09x | 1.53x | |
| Day 4 | - | - | 4.28x | 2.21x | 3.24x |
IPO Tentative Timetable
The Organic Recycling Systems Limited IPO open date is Sep 21, 2023, and the close date is Sep 26, 2023. The issue may list on Oct 06, 2023.
| IPO Open Date | Sep 21, 2023 |
| IPO Close Date | Sep 26, 2023 |
| Basis of Allotment Date | Sep 29, 2023 |
| Initiation of Refunds | Oct 03, 2023 |
| Credit of Shares to Demat Account | Oct 04, 2023 |
| IPO Listing Date | Oct 06, 2023 |
IPO Lot Size
The Organic Recycling Systems Limited IPO market lot size is 600 shares. A retail-individual investor can apply for up to 1 lots (600 shares or ₹120000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 600 | ₹120000 |
| Maximum | 1 | 600 | ₹120000 |
IPO Promoter Holding
| Pre Issue Share Holding | 30.14% |
| Post Issue Share Holding | 20.35% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 10272.69 | 1578.18 | -449.37 |
| 31-Mar-22 | 10669.35 | 1756.67 | -535.03 |
| 31-Mar-23 | 11931.10 | 2534.10 | 365.38 |
Objects of the Issue:
The company intends to utilize the Net Issue Proceeds for the following Objects:
1. Reduction of the aggregate outstanding borrowings of the Company.
2. Towards general corporate purposes.
Organic Recycling Systems Limited IPO Registrar:
Maashitla Securities Pvt. Limited
Organic Recycling Systems Limited IPO Lead Manager(s):
Arihant Capital Markets Ltd
Company Contact Information:
Organic Recycling Systems Limited
Office No. 1003, 10th Floor,
The Affaires Plot No. 9, Sector-17,
Sanpada, Navi Mumbai- 400705
