March 13, 2023
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Resgen IPO Analysis at Chanakyanipothi.com,
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Resgen IPO Guidance:
The company is engaged in the process of manufacturing Pyrolysis Oil (a substitute for furnace oil) from all kinds of waste plastics. IPO size is relatively large. Only the year, just prior to the IPO, the company has shown some good turnover and profits. So difficult to evaluate only based on one year performance.
Resgen IPO Grey Market updates
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Resgen IPO Subscription Status
On 2 March 2023 @ 5.00 pm (Closed)
QIB: 2850000 Shares, 1.09T
NII: 855000 Shares, 3.87T
RII: 1995000 Shares, 3.87T
Total: 5700000 Shares 2.50T
Resgen: Company Details
ResGen Limited was established in 2018 and is headquartered in Mumbai. ResGen was envisioned to make environment saving projects commercially viable and highly scalable.
The company is engaged in the process of manufacturing Pyrolysis Oil (a substitute for furnace oil) from all kinds of waste plastics. It calls this: PlasEco. During the manufacturing of PlasEco, it is able to repurpose the by-products generated, such as Carbon, which substitutes for coal; and Gas, which substitutes for LPG.
The company has set up a Chemical Recycling Plant in Vikramgad (Palghar), Maharashtra, considering it’s proximity to the Municipal Corporations of Mumbai, Thane, Kalyan & Dombivli. The company at ResGen, have come up with an ingenious method, which is not only ecofriendly but also gives by-products which are very essential to one and all. The major by-product being combustible liquid and gaseous fuel, it can replace the diesel or furnace oils, which will directly reduce the need and impact of its combustible fuel resources. It uses a patented catalytic process to improve the efficiency, safety and scalability of the pyrolysis process.
For more information about the company, Click www.resgen.in
| Resgen IPO Details | |
| IPO opens on Tentative | 28 February 2023 |
| IPO closes on | 2 March 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 6000000 Sh /Rs 28.20 Cr |
| * Fresh Issue | 6000000 Sh /Rs 28.20 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs.45-47 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 3000 Shares |
| Listing will at | BSE Sme |
| Shares offered to | ||
| Shares | Rs. (Cr) | |
| QIB (0 %) | 2850000 | 13.40 |
| NII (50 %) | 855000 | 4.02 |
| RII (50 %) | 1995000 | 9.39 |
| Total Shares | 5700000 | 26.79 |
| Retail portion will be oversubscribed by | 665 | |
| Forms | ||
| How much Shares to Apply? | ||
| Min Retail Application | 6000 Sh | Rs. 150000 |
| Max Retail Application | 12000 Sh | Rs. 300000 |
Promoters of the IPO
KARAN ATUL BORA AND KUNAL ATUL BORA
Objects of the IPO:
The Company proposes to utilize the Net Proceeds from the Issue towards
a) Working Capital Requirements
b) Purchase of the land where its Manufacturing facility is currently situated
| Resgen IPO Tentative timetable | |
| IPO opens on | 28 February 2023 |
| IPO Closes on | 2 March 2023 |
| IPO Allotment on | 8 March 2023 |
| Unblocking of ASBA | 9 March 2023 |
| Credit of Shares | 10 March 2023 |
| Listing on | 13 March 2023 |
| Registered Office of the company |
| 919, Floor 9th, Plot-221, Maker Chamber V Jamnalal Bajaj Marg, Nariman Point Mumbai-400021, Maharashtra, India. |
| IPO Lead Managers |
| GRETEX CORPORATE SERVICES Ltd |
| Registrar to the IPO |
| BIGSHARE SERVICES Pvt. Ltd. |
| Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2019-20 | 0.00 | (0.15) | (0.1) | (0.11) |
| 2020-21 | 0.02 | 0.01 | 0.01 | 0.46 |
| 2021-22 | 4.81 | 0.74 | 0.59 | 20.00 |
| Book Value of the Share on | 31.03.2022 | Rs.2.93 | ||
| Book Value of the Share | after the IPO | Rs. | ||
| Offer Price | Rs. 47 | |||
| Ratio Analysis | |
| Upper Price/last EPS | 80 |
| Upper price/BV Ratio | 16 |
| Upper price/BV after IPO | |
Peer Comparison:
The Company does not have any listed peer group operating in the same line of business.
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