Regaal Resources IPO: Check IPO Date, Live Subscription and Key Details
Regaal Resources Ltd is one of India's largest manufacturers of maize-based specialty products, primarily producing native maize starch and modified starch. It also manufactures co-products like gluten, germ, enriched fiber, and fiber, as well as value-added food-grade products such as maize flour, icing sugar, custard powder, and baking powder. The company's manufacturing plant is located in Kishanganj, Bihar, a region known for high maize yields, which provides a strategic advantage in raw material sourcing. Regaal Resources operates a zero-liquid discharge (ZLD) maize milling plant and a 7.1 MW captive co-gen power plant, demonstrating its focus on sustainability and energy efficiency.
Price Range
₹96.00-102.00
Issue Size
306
Lot Size
144 shares
IPO Type
Mainboard
GMP
₹31(+30.39%)
Est. Listing Price
₹133
Invisible
-
Invisible
-
Key Metrics
Check Live GMP
Face Value
₹5
EPS
4.64
P/E Ratio
21.98
RoNW
20.25%
ROE
20.25%
Debt to Equity
2.08
Timeline
IPO Opens
12 Aug
IPO Closes
14 Aug
Allotment
18 Aug
Listing
20 Aug
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 12 August 2025 | Subscription starts |
| IPO Close Date | 14 August 2025 | Subscription ends |
| Allotment Date | 18 August 2025 | Allotment |
| Listing Date | 20 August 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,688 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,90,944 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,05,632 |
SHNI (Max)Below ₹10,00,000 | 68 | ₹9,98,784 |
BHNIAbove ₹10,00,000 | 69 | ₹10,13,472 |
IPO Objectives
- Repayment and/ or pre-payment, in full or in part, of the certain outstanding borrowings availed by the Company.
- General Corporate Purposes.
Strengths
- They have a strategic location in a major maize-producing area in Bihar, which helps them secure a consistent supply of raw materials at lower costs.
- The company is focused on sustainability with a Zero Liquid Discharge plant and its own power plant, which helps reduce environmental impact and operational costs.
- They have a diversified product range from native starch to value-added food products, serving various industries like food, paper, and animal feed.
- They've shown strong financial growth, with revenue up 53% and profit up 115% between FY24 and FY25, and a high return on net worth.
- They have an experienced management team and an established sales network across India, with a growing presence in nearby export markets like Nepal and Bangladesh.
Weaknesses
- The company carries a high debt load with a Debt-to-Equity ratio of 2.15 in FY25, which is higher than competitors and could impact their profits due to interest costs.
- There's a high reliance on their top 10 customers for about 50% of their revenue, making them vulnerable if they lose any of those key clients.
- They are heavily dependent on a single raw material, maize, making the business risky due to price volatility and potential supply chain disruptions, especially since they rely on a few main suppliers.
- Most of their revenue comes from native starch, which is a commodity with thin profit margins, making them susceptible to competitive pricing.
- A significant portion of the IPO funds will be used to pay off debt, not for new growth projects, and their business is exposed to regional risks due to a geographic concentration in East and North India.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 860.27 | 585.97 | 371.52 |
| Revenue (₹ Cr.) | 917.58 | 601.08 | 488.67 |
| PAT (₹ Cr.) | 47.67 | 22.14 | 16.76 |
| Net Worth (₹ Cr.) | 235.41 | 126.61 | 104.41 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Regaal Resources | 6.18 | 21.98 | 20.25% | 235.41 |
| Sanstar Limited | 2.55 | 23.5 | 26.31% | 254 |
| Gujarat Ambuja Exports Limited | 1.57 | 19.83 | 8.3% | 3,002 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 2.94x | 3.36x | 190.96x |
| NII | 10.77x | 67.77x | 356.57x |
| S-HNI | 11.99x | 73.6x | 294.29x |
| B-HNI | 10.16x | 64.85x | 387.71x |
| RII | 5.59x | 21.86x | 57.46x |
| Total | 5.94x | 26.41x | 159.7x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 60,00,262 | 1,14,57,89,712 | 11,687.06 |
| NII | 45,00,035 | 1,60,45,79,040 | 16,366.71 |
| Small NII | 15,00,012 | 44,14,38,624 | 4,502.67 |
| Big NII | 30,00,024 | 1,16,31,40,416 | 11,864.03 |
| RII | 1,05,00,082 | 60,33,72,528 | 6,154.4 |
| Total | 2,10,00,379 | 3,35,37,41,280 | 34,208.16 |
Company Details
- Regaal Resources Ltd.
- 6th Floor, D2/2, Block-EP & GP, Sector-V, Kolkata, West Bengal-700091
- 033 3522 2405
- cs@regaal.in
- https://regaalresources.com/
Registrar Details
- MUFG Intime India Private Limited (Link Intime)
- +91-22-4918 6270
- regaalresources.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html