Source: SEBI
Regaal Resources Limited, a leading maize-based specialty products manufacturer, is set to launch its Initial Public Offering (IPO) through a bookbuilding process, aiming to raise ₹306 crores. The IPO comprises a fresh issue of approximately 2.06 crore shares worth ₹210 crores and an offer for sale of about 0.94 crore shares valued at ₹96 crores.
The subscription window for the Regaal Resources IPO will open on August 12, 2025, and close on August 14, 2025. The basis of allotment is expected to be finalized by Monday, August 18, 2025, followed by share credit and listing on BSE and NSE tentatively on Wednesday, August 20, 2025.
IPO Details at a Glance
| Parameter | Details |
|---|---|
| IPO Open Date | August 12, 2025 |
| IPO Close Date | August 14, 2025 |
| Allotment Finalization Date | August 18, 2025 |
| Refund Initiation Date | August 19, 2025 |
| Share Credit Date | August 19, 2025 |
| Listing Date | August 20, 2025 (Tentative) |
| Issue Size | ₹306 crores |
| Fresh Issue Shares | 2.06 crore (₹210 crores) |
| Offer for Sale Shares | 0.94 crore (₹96 crores) |
| Face Value | ₹5 per share |
| Listing Exchanges | BSE, NSE |
| Issue Type | Bookbuilding IPO |
IPO Reservation & Allocation
The IPO follows the bookbuilding process as per SEBI regulations. The issue is divided among different investor categories:
- Qualified Institutional Buyers (QIBs): Up to 50% of the offer, with up to 60% of this portion reserved for Anchor Investors. One-third of Anchor Investor allocation is reserved for domestic mutual funds.
- Mutual Funds: At least 5% of the net QIB portion reserved for mutual funds; any undersubscription in this category will be added back to QIB allocation.
- Non-Institutional Investors (NIIs): Minimum 15% allocation, divided into two sub-categories:
- Applicants investing between ₹2 lakh and ₹10 lakh (one-third allocation)
- Applicants investing above ₹10 lakh (two-thirds allocation)
- Applicants investing between ₹2 lakh and ₹10 lakh (one-third allocation)
- Retail Individual Investors (RIIs): At least 35% of the offer is reserved for retail investors.
All investors except Anchor Investors must apply via the Application Supported by Blocked Amount (ASBA) method, providing details of their bank accounts or UPI IDs to block funds during bidding.
About Regaal Resources
Regaal Resources Ltd. operates from Kolkata with its manufacturing plant located in Kishanganj, Bihar. It is one of India’s largest maize-based specialty products manufacturers with a crushing capacity of 750 tonnes per day. Their product portfolio includes:
- Native and Modified Maize Starch — natural plant-based starch
- Co-products — gluten, germ, enriched fiber, and fiber
- Value-added Products — maize flour, icing sugar, custard powder, baking powder
The manufacturing facility is a zero liquid discharge plant spread over 54.03 acres, serving domestic and international customers across industries such as food, paper, animal feed, and adhesives. The company caters to three main customer segments: end product manufacturers, intermediate product manufacturers, and distributors/wholesalers.
Financial Highlights (₹ in Crores)
| Financial Metric | March 31, 2025 | March 31, 2024 | March 31, 2023 |
|---|---|---|---|
| Assets | 860.27 | 585.97 | 371.52 |
| Total Income | 917.58 | 601.08 | 488.67 |
| Profit After Tax (PAT) | 47.67 | 22.14 | 16.76 |
| EBITDA | 112.79 | 56.37 | 40.67 |
| Net Worth | 235.41 | 126.61 | 104.41 |
| Reserves & Surplus | 202.44 | 125.12 | 102.92 |
| Total Borrowings | 507.05 | 357.21 | 188.93 |
Use of IPO Proceeds
The company plans to use the fresh issue proceeds mainly for:
| Purpose | Estimated Amount (₹ Million) |
|---|---|
| Repayment/pre-payment of borrowings | 1,590.00 |
| General Corporate Purposes | To be finalized (≤ 25% of gross proceeds) |
The exact amount for general corporate purposes will be finalized after the issue price determination and updated in the prospectus.
Key Strengths of Regaal Resources
- Strong financial performance and consistent growth track record
- Strategically located manufacturing facility close to raw material sources and markets
- Efficient multi-source raw material procurement strategy
- Sustainability-driven zero liquid discharge plant with high utilization
- Diverse product portfolio catering to multiple industries
- Established and widespread sales and distribution network
- Experienced promoters and management team
