ResGen Limited IPO Detail
Incorporated in 2018, ResGen Limited is engaged in the process of manufacturing Pyrolysis Oil (a substitute for furnace oil) from all kinds of waste plastics. The company's headquarter is situated in Mumbai. The company was envisioned to make environment-saving projects commercially viable and highly scalable.
The products of the company revolve around PYROLYSIS OIL.
The heavy usage of Plastic in various and diverse segments is creating hazardous issues for the environment and ResGen Limited with its sustainable solution strives at addressing these problems.
ResGen was founded on the idea of using plastic waste and converting it into a substitute for fuel. The company 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 add an additional solution for fuel.
ResGen call 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.
Company Promoters
Mr. Karan Atul Bora and Mr. Kunal Atul Bora are the promoters of the company.IPO Details
| IPO Opening Date | Feb 28, 2023 |
| IPO Closing Date | Mar 02, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹45 - 47 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹28.20 Cr |
| Fresh Issue | 6,000,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.38x | - | - | 0.63x | 0.80x | 0.56x |
| Day 2 | 0.75x | - | - | 0.97x | 1.44x | 1.03x |
| Day 3 | 1.09x | - | - | 3.87x | 3.88x | 2.50x |
IPO Tentative Timetable
The ResGen Limited IPO open date is Feb 28, 2023, and the close date is Mar 02, 2023. The issue may list on Mar 13, 2023.
| IPO Open Date | Feb 28, 2023 |
| IPO Close Date | Mar 02, 2023 |
| Basis of Allotment Date | Mar 08, 2023 |
| Initiation of Refunds | Mar 09, 2023 |
| Credit of Shares to Demat Account | Mar 10, 2023 |
| IPO Listing Date | Mar 13, 2023 |
IPO Lot Size
The ResGen Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹141000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹141000 |
| Maximum | 1 | 3000 | ₹141000 |
IPO Promoter Holding
| Pre Issue Share Holding | 94.15% |
| Post Issue Share Holding | 67.22% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 1110.01 | 2.00 | 0.63 |
| 31-Mar-22 | 1371.31 | 480.81 | 73.50 |
| 31-Dec-22 | 3917.97 | 1265.34 | 246.44 |
Objects of the Issue:
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
- Working Capital Requirements
- Purchase of the land where our Manufacturing facility is currently situated
- General Corporate Purposes.
ResGen Limited IPO Registrar:
Bigshare Services Pvt Ltd
ResGen Limited IPO Lead Manager(s):
Gretex Corporate Services Pvt Ltd
Company Contact Information:
ResGen Limited
919, Floor 9th, Plot-221, Maker Chamber. V. Jamnalal Bajaj Marg, Nariman Point
Mumbai
Mumbai
