Bookbuilding IPO | ₹28 Cr | Listed at BSE SME | Tue, Feb 28, 2023 - Thu, Mar 2, 2023
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 per share. The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,41,000 (3000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Feb 28, 2023
IPO Close
Thu, Mar 2, 2023
Issue Price
₹47 per share
Market Cap (Pre-IPO)
₹98.58 Cr
| IPO Date | 28 Feb to 2 Mar, 2023 |
| Listed on | Mon, Mar 13, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹45 to ₹47 |
| Issue Price | ₹47 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 60,00,000 shares (agg. up to ₹28 Cr) |
| Reserved for Market Maker | 3,00,000 shares Gretex Share Broking Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 57,00,000 shares (agg. up to ₹27 Cr) |
| Net Offered to Public | 57,00,000 shares (agg. up to ₹27 Cr) |
| Share Holding Pre Issue | 1,49,75,000 shares |
| Share Holding Post Issue | 2,09,75,000 shares |
| BSE Script Code | 543805 |
| ISIN | INE0NYN01016 |
ResGen IPO comprises a total issue size of 60,00,000 shares. The net offer to the public is 57,00,000 shares, after excluding 3,00,000 shares allotted on a firm basis. Of the Net offer 28,20,000 (49.47%) are allocated to QIB, 8,82,000 (15.47%) allocated to NII 19,98,000 (35.05%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 28,20,000 | 49.47% | 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 | 15.47% | 14.70% |
| Retail Shares Offered | 19,98,000 | 35.05% | 33.30% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,00,000 | 5.00% | |
| Total Shares Offered | 60,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| 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 |
ResGen IPO raises ₹7.95 crore from anchor investors. ResGen IPO Anchor bid date is February 27, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Feb 27, 2023 |
| Shares Offered | 16,92,000 |
| Anchor Portion (₹ Cr.) | 7.95 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Apr 7, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Jun 6, 2023 |
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 | 05 Dec 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 39.18 | 13.71 | 11.10 | 1.62 |
| Total Income | 12.65 | 4.81 | 0.02 | |
| Profit After Tax | 2.46 | 0.74 | 0.01 | -0.15 |
| NET Worth | 15.10 | 3.67 | 1.37 | 1.36 |
| Reserves and Surplus | 10.91 | 1.47 | -0.18 | -0.18 |
| Total Borrowing | 14.86 | 9.33 | 9.61 | 0.24 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements | 17.50 |
| 2 | Purchase of the land where our Manufacturing facility is currently situated | 1.76 |
| 3 | General Corporate Purposes | 5.74 |
| KPI | |
|---|---|
| ROE | 20 |
| ROCE | 14.57 |
| Debt/Equity | 2.54 |
| RoNW | 20 |
| PAT Margin | 15.29% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 17.90 | |
| P/E (x) | 27.33 | |
| Promoter Holding | 94.15% | 67.22% |
| Market Cap | ₹98.58 Cr. |
The ResGen IPO is subscribed 2.5 times on March 2, 2023 6:58:00 PM (Day 3). The public issue subscribed 3.88 times in the retail category, 1.09 times in the QIB category, and 3.87 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.09 | 28,20,000 | 30,81,000 |
| NII* | 3.87 | 8,82,000 | 34,14,000 |
| Retail | 3.88 | 19,98,000 | 77,55,000 |
| Total | 2.5 | 57,00,000 | 1,42,50,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the Book Running Lead Manager | 0.29 |
| 2 | Underwriting Fees | 1.00 |
| 3 | Market Making Fees | 0.04 |
| 4 | Fees payable to Registrar to Issue | 0.01 |
| 5 | Fees to Legal Advisor | 0.01 |
| 6 | Advertisement Expenses | 0.01 |
| 7 | Fees payable to Regulators including Stock Exchange | 0.02 |
| 8 | Printing & Distribution Expenses | 0.01 |
| 9 | Marketing & Selling Expenses | 1.81 |
| 10 | Payment to Sponsor Bank | 0.01 |
| 11 | Statutory & Other Reports | 0.01 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹47.00 |
| Open | ₹49.00 |
| Low | ₹46.55 |
| High | ₹49.00 |
| Last Trade | ₹46.57 |
Lead Manager Reports
ResGen IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹28 Crores. The issue is priced at ₹47 per share. The minimum order quantity is 3000.
The IPO opens on Tue, Feb 28, 2023, and closes on Thu, Mar 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 Tue, Feb 28, 2023 and closes on Thu, Mar 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 Fri, Mar 10, 2023. Check the ResGen IPO allotment status.
The ResGen IPO listing date is on Mon, Mar 13, 2023.
