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ResGen IPO is a book built issue of Rs 28.20 crores. The issue is entirely a fresh issue of 60 lakh shares.
ResGen IPO bidding started from February 28, 2023 and ended on March 2, 2023. The allotment for ResGen IPO was finalized on Wednesday, March 8, 2023. The shares got listed on BSE SME on March 13, 2023.
ResGen IPO price band is set at ₹45 to ₹47 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹141,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹282,000.
Gretex Corporate Services Limited is the book running lead manager of the ResGen IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for ResGen IPO is Gretex Share Broking.
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 |
| Price Band | ₹45 to ₹47 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 6,000,000 shares (aggregating up to ₹28.20 Cr) |
| Fresh Issue | 6,000,000 shares (aggregating up to ₹28.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 14,975,000 |
| Share holding post issue | 20,975,000 |
| Market Maker portion | 300,000 shares Gretex Share Broking |
ResGen IPO offers 6,000,000 shares. 2,820,000 (47.00%) to QIB, 882,000 (14.70%) to NII, 1,998,000 (33.30%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 300,000 (5.00%) |
| QIB Shares Offered | 2,820,000 (47.00%) |
| NII (HNI) Shares Offered | 882,000 (14.70%) |
| Retail Shares Offered | 1,998,000 (33.30%) |
| Total Shares Offered | 6,000,000 (100%) |
ResGen IPO opens on February 28, 2023, and closes on March 2, 2023.
| IPO Open Date | Tuesday, February 28, 2023 |
| IPO Close Date | Thursday, March 2, 2023 |
| Basis of Allotment | Wednesday, March 8, 2023 |
| Initiation of Refunds | Thursday, March 9, 2023 |
| Credit of Shares to Demat | Friday, March 10, 2023 |
| Listing Date | Monday, March 13, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 2, 2023 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹141,000 |
| Retail (Max) | 1 | 3000 | ₹141,000 |
| HNI (Min) | 2 | 6,000 | ₹282,000 |
| Lot Size Calculator | |||
Mr. Karan Atul Bora and Mr. Kunal Atul Bora are the promoters of the company.
| Share Holding Pre Issue | 94.15% |
| Share Holding Post Issue | 67.22% |
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 Rs 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...
The ResGen IPO is subscribed 2.50 times on March 2, 2023 6:58:00 PM. 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) |
|---|---|
| QIB | 1.09 |
| NII | 3.87 |
| Retail | 3.88 |
| Total | 2.50 |
| Listing Date | March 13, 2023 |
| BSE Script Code | 543805 |
| NSE Symbol | |
| ISIN | INE0NYN01016 |
| Final Issue Price | ₹47 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹47.00 |
| ₹49.00 |
| ₹46.55 |
| ₹49.00 |
| ₹46.57 |
ResGen Limited
919, Floor 9th, Plot-221, Maker Chamber.
V. Jamnalal Bajaj Marg, Nariman Point,
Mumbai- 400021
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
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ResGen IPO is a SME IPO of 6,000,000 equity shares of the face value of ₹10 aggregating up to ₹28.20 Crores. The issue is priced at ₹45 to ₹47 per share. The minimum order quantity is 3000 Shares.
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 Shares, and the minimum amount required is ₹141,000.
You can apply in ResGen IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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