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ResGen IPO is a book build issue of ₹28.20 crores. The issue is entirely a fresh issue of 0.60 crore shares of ₹28.20 crore.
ResGen IPO bidding started from Feb 28, 2023 and ended on Mar 2, 2023. The allotment for ResGen IPO was finalized on Mar 8, 2023. The shares got listed on BSE SME on Mar 13, 2023.
ResGen IPO price band is set at ₹47.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,35,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,82,000.
Gretex Corporate Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Gretex Share Broking Pvt.Ltd..
Refer to ResGen IPO RHP for detailed Information.
| IPO Date | February 28, 2023 to March 2, 2023 |
| Listing Date | March 13, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹45 to ₹47 per share |
| Issue Price Final | ₹47 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 60,00,000 shares (aggregating up to ₹28.20 Cr) |
| Reserved for Market Maker | 3,00,000 shares Gretex Share Broking Pvt.Ltd. (aggregating up to ₹1.41 Cr) |
| Net Offered to Public | 57,00,000 shares (aggregating up to ₹26.79 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,49,75,000 shares |
| Share Holding Post Issue | 2,09,75,000 shares |
ResGen IPO offers total 60,00,000 shares. Out of which 28,20,000 (47.00%) allocated to QIB, 11,28,000 (18.80%) allocated to QIB, 8,82,000 (14.70%) allocated to NII, 19,98,000 (33.30%) allocated to RII and 16,92,000 (28.20%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,00,000 (5.00%) |
| QIB Shares Offered | 28,20,000 (47.00%) |
| − Anchor Investor Shares Offered | 16,92,000 (28.20%) |
| − QIB (Ex. Anchor) Shares Offered | 11,28,000 (18.80%) |
| NII (HNI) Shares Offered | 8,82,000 (14.70%) |
| Retail Shares Offered | 19,98,000 (33.30%) |
| Total Shares Offered | 60,00,000 (100.00%) |
ResGen IPO raises ₹7.95 crore from anchor investors. ResGen IPO Anchor bid date is February 27, 2023.
| Bid Date | February 27, 2023 |
| Shares Offered | 16,92,000 |
| Anchor Portion Size (In Cr.) | 7.95 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 7, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 6, 2023 |
ResGen IPO opens on February 28, 2023, and closes on March 2, 2023.
| IPO Open Date | Tue, Feb 28, 2023 |
| IPO Close Date | Thu, Mar 2, 2023 |
| Tentative Allotment | Wed, Mar 8, 2023 |
| Initiation of Refunds | Thu, Mar 9, 2023 |
| Credit of Shares to Demat | Fri, Mar 10, 2023 |
| Tentative Listing Date | Mon, Mar 13, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Mar 2, 2023 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,41,000 |
| Retail (Max) | 1 | 3,000 | ₹1,41,000 |
| HNI (Min) | 2 | 6,000 | ₹2,82,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 161.78 | -15.15 | 136.13 | -18.37 | 24.05 | |
| 31-Mar-21 | 1,110.01 | 2.00 | 0.63 | 136.76 | -17.74 | 961.33 |
| 31-Mar-22 | 1,371.31 | 480.81 | 73.50 | 367.46 | 147.46 | 932.92 |
| 05-Dec-22 | 3,917.97 | 1,265.34 | 246.44 | 1,510.30 | 1,091.10 | 1,486.06 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of ResGen IPO is ₹98.58 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 27.33 |
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
[Dilip Davda] The company started its commercial production from 2021-22 only and results for the sub-period of FY23 raise eyebrows. The sustainability of margins reported is a major concern and it is operating in a high-risk segment that also has the impact of government policies. The segment is highly competitive with many private local players around. The large equity base in the context of its current working too poses concern. Considering its aggressive pricing and the likely challenges for future prospects, well-informed/cash surplus investors may consider investing for the long-term, while others may skip. Read detail review...
| Listing Date | March 13, 2023 |
| BSE Script Code | 543805 |
| NSE Symbol | |
| ISIN | INE0NYN01016 |
| Final Issue Price | ₹47 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹47.00 |
| Open | ₹49.00 |
| Low | ₹46.55 |
| High | ₹49.00 |
| Last Trade | ₹46.57 |
ResGen Ltd.
919, Floor 9th, Plot-221, Maker Chamber.
V. Jamnalal Bajaj Marg, Nariman Point,
Mumbai- 400021
Mumbai, Maharashtra
Phone: 022-22810181
Email: info@resgen.in
Website: http://www.resgen.in/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
ResGen IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹28.20 Crores. The issue is priced at ₹47 per share. The minimum order quantity is 3000.
The IPO opens on February 28, 2023, and closes on March 2, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in ResGen IPO using UPI as a payment gateway. Zerodha customers can apply in ResGen IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ResGen IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The ResGen IPO opens on February 28, 2023 and closes on March 2, 2023.
ResGen IPO lot size is 3000, and the minimum amount required for application is ₹1,41,000.
You can apply in ResGen 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 ResGen IPO will be done on Wednesday, March 8, 2023, and the allotted shares will be credited to your demat account by Friday, March 10, 2023. Check the ResGen IPO allotment status.
The ResGen IPO listing date is on Monday, March 13, 2023.
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