Fixed Price IPO | ₹50 Cr | Listed at BSE SME | Thu, Sep 21, 2023 - Tue, Sep 26, 2023
Organic Recycling Systems IPO is a fixed price issue of ₹50.00 crores. The issue is entirely a fresh issue of 0.25 crore shares of ₹50.00 crore.
Organic Recycling Systems IPO bidding started from Sep 21, 2023 and ended on Sep 26, 2023. The allotment for Organic Recycling Systems IPO was finalized on Sep 29, 2023. The shares got listed on BSE SME on Oct 6, 2023.
Organic Recycling Systems IPO price is ₹200 per share. The lot size for an application is 600. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,200 shares), amounting to ₹2,40,000.
Arihant Capital Markets Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Arihant Capital Markets Ltd..
Refer to Organic Recycling Systems IPO RHP for detailed Information.
IPO Open
Thu, Sep 21, 2023
IPO Close
Tue, Sep 26, 2023
Issue Price
₹200 per share
Market Cap (Pre-IPO)
₹153.99 Cr
| IPO Date | 21 to 26 Sep, 2023 |
| Listed on | Fri, Oct 6, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹200 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 25,00,200 shares (agg. up to ₹50 Cr) |
| Reserved for Market Maker | 1,30,200 shares Arihant Capital Markets Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 23,70,000 shares (agg. up to ₹47 Cr) |
| Net Offered to Public | 23,70,000 shares (agg. up to ₹47 Cr) |
| Share Holding Pre Issue | 51,99,075 shares |
| Share Holding Post Issue | 76,99,275 shares |
| BSE Script Code | 543997 |
| ISIN | INE0MIO01019 |
Organic Recycling Systems IPO comprises a total issue size of 25,00,200 shares. The net offer to the public is 23,70,000 shares, after excluding 1,30,200 shares allotted on a firm basis. Of the Net offer 11,85,000 (50.00%) allocated to NII 11,85,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 11,85,000 | 50.00% | 47.40% |
| Retail Shares Offered | 11,85,000 | 50.00% | 47.40% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,30,200 | 5.21% | |
| Total Shares Offered | 25,00,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹1,20,000 |
| Retail (Max) | 1 | 600 | ₹1,20,000 |
| HNI (Min) | 2 | 1,200 | ₹2,40,000 |
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.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 119.31 | 106.69 | 102.73 |
| Total Income | 25.34 | 17.57 | 15.78 |
| Profit After Tax | 3.65 | -5.35 | -4.49 |
| NET Worth | 25.50 | 8.09 | 13.44 |
| Reserves and Surplus | 20.14 | 7.63 | 12.98 |
| Total Borrowing | 69.81 | 54.18 | 54.50 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Reduction of the aggregate outstanding borrowings of the Company | 37.50 |
| 2 | Towards general corporate purposes | 10.48 |
| KPI | |
|---|---|
| ROE | 21.76% |
| ROCE | 13.06% |
| Debt/Equity | 2.70 |
| RoNW | 14.33% |
| PAT Margin | 14.78% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.83 | |
| P/E (x) | 25.54 | 42.11 |
| Promoter Holding | 30.14% | 20.35% |
| Market Cap | ₹153.99 Cr. |
The Organic Recycling Systems IPO is subscribed 3.24 times on September 26, 2023 7:02:00 PM (Day 4). The public issue subscribed 2.21 times in the retail category, [.] times in the QIB category, and 4.28 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 4.28 | 11,85,000 | 50,70,600 |
| Retail | 2.21 | 11,85,000 | 26,16,600 |
| Total | 3.24 | 23,70,000 | 76,87,200 |
Total Application : 4,968
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the Lead Manager (including underwriting fees | 0.40 |
| 2 | Marketing expenses including selling commission and brokerage | 1.13 |
| 3 | Fees payable to Registrar to the Issue | 0.01 |
| 4 | Fees to the legal advisor | 0.04 |
| 5 | Advertising expenses | 0.06 |
| 6 | Fees payable to regulators including stock exchanges | 0.10 |
| 7 | Printing and distribution expenses | 0.03 |
| 8 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Issue and bidding/uploading charges for Members of the Syndicate, Registered Brokers, RTAs and CDP | 0.02 |
| 9 | Miscellaneous (including fees payable to auditors, consultants, market research firms and other professional agencies | 0.25 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹200.00 |
| Open | ₹215.00 |
| Low | ₹214.00 |
| High | ₹225.75 |
| Last Trade | ₹225.75 |
Lead Manager Reports
Organic Recycling Systems IPO is a SME IPO of 25,00,200 equity shares of the face value of ₹10 aggregating up to ₹50 Crores. The issue is priced at ₹200 per share. The minimum order quantity is 600.
The IPO opens on Thu, Sep 21, 2023, and closes on Tue, Sep 26, 2023.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Organic Recycling Systems IPO using UPI as a payment gateway. Zerodha customers can apply in Organic Recycling Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Organic Recycling Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Organic Recycling Systems IPO opens on Thu, Sep 21, 2023 and closes on Tue, Sep 26, 2023.
Organic Recycling Systems IPO lot size is 600, and the minimum amount required for application is ₹1,20,000.
You can apply in Organic Recycling Systems IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Organic Recycling Systems IPO will be done on Friday, September 29, 2023, and the allotted shares will be credited to your demat account by Wed, Oct 4, 2023. Check the Organic Recycling Systems IPO allotment status.
The Organic Recycling Systems IPO listing date is on Fri, Oct 6, 2023.
