Regaal Resources IPO
ListedMainboardOpens 12 August 2025Closes 14 August 2025
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…
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.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
12 Aug
IPO Closes
14 Aug
Allotment
18 Aug
Listing
20 Aug
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 12 August 2025 |
| IPO Close Date | 14 August 2025 |
| Allotment Date | 18 August 2025 |
| Listing Date | 20 August 2025 |
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
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Sources
We match Regaal Resources IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Private Limited (Link Intime)Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.