Regaal Resources Limited (RRL) is a leading agro-processing company based out of India engaged in the manufacturing of best quality maize starch, specialty starches, food grade starches and starch derivative products.
Regaal Resources, an Book Built Issue, amounting to ₹ 306.00 Crores, consisting an Fresh Issue of 2.05 Crore Shares worth ₹ 210.00 Crores and an Offer for Sale of 0.94 Crore Shares totaling to ₹ 96.00 Crores. The subscription period for the Regaal Resources IPO opens on August 12, 2025, and closes on August 14, 2025. The allotment is expected to be finalized on or about Monday, August 18, 2025, and the shares will be listed on the BSE & NSE with a tentative listing date set on or about Wednesday, August 20, 2025.
The Share Price Band of Regaal Resources IPO is set at ₹ 96 to ₹ 102 per equity share. The Market Capitalisation of the Regaal Resources at IPO price of ₹ 102 per equity share will be ₹ 1,047.79 Crores. The lot size of the IPO is 144 shares. Retail investors are required to invest a minimum of ₹ 14,699 (144 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is 14 lots (2,016 shares), amounting to ₹ 2,05,632.
Pantomath Capital Advisors Private Limited and Sumedha Fiscal Services Limited are the book running lead manager of the Regaal Resources, while MUFG Intime India Private Limited is the registrar for the issue.
Regaal Resources Limited IPO GMP Today
The Grey Market Premium of Regaal Resources IPO is expected to be ₹ 14 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
Regaal Resources Limited IPO Live Subscription Status Today: Real-Time Update
As of 07:00 PM on 14 August, 2025, the Regaal Resources Limited IPO live subscription status shows that the IPO subscribed 48.44 times on its Final Day of subscription period. Check the Regaal Resources IPO Live Subscription Status Today at BSE.
Regaal Resources IPO Anchor Investors Report
Regaal Resources has raised ₹ 693.29 Crores from Anchor Investors at a price of ₹ 102 per shares in consultation of the Book Running Lead Managers. The company allocated 89,99,856 equity shares to the Anchor Investors. Check Full List of Regaal Resources Anchor Investor List.
Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion.
Regaal Resources Day Wise IPO GMP Trend
Date |
IPO Price |
Expected Listing Price |
GMP |
Last Updated |
07 August 2025 | ₹ 102 | ₹ 116 | ₹ 14 (13.73%) | 06:00 PM; 07 August 2025 |
Regaal Resources Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Regaal Resources IPO allotment date is 18 August, 2025, Monday. Regaal Resources IPO Allotment will be out on 18th August, 2025 and will be live on Registrar Website from the allotment date. Check Regaal Resources IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Regaal Resources Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of Regaal Resources Limited IPO
Regaal Resources to utilise the Net Proceeds towards the following objects:
1. ₹ 1,590.00 Million is required for Repayment and/ or pre-payment, in full or in part, of our certain outstanding borrowings availed by the Company; and
2. General Corporate Purposes.
Refer to Regaal Resources Limited RHP for more details about the Company.
Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.
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Regaal Resources IPO Details |
|||||||||||
IPO Date | August 12, 2025 to August 14, 2025 | ||||||||||
Listing Date | August 20, 2025 | ||||||||||
Face Value | ₹ 5 | ||||||||||
Price | ₹ 96 to ₹ 102 per share | ||||||||||
Lot Size | 144 Equity Shares | ||||||||||
Total Issue Size | 3,00,00,235 Equity Shares (aggregating to ₹ 306.00 Cr) | ||||||||||
Fresh Issue | 2,05,88,235 Equity Shares (aggregating to ₹ 210.00 Cr) | ||||||||||
Offer for Sale | 94,12,000 Equity Shares (aggregating to ₹ 96.00 Cr) | ||||||||||
Issue Type | Book Built Issue | ||||||||||
Listing At | BSE & NSE | ||||||||||
Share holding pre issue | 8,21,35,940 | ||||||||||
Share holding post issue | 10,27,24,175 |
Regaal Resources IPO Lot Size |
|||||||||||
Application | Lots | Shares | Amount | ||||||||
Retail (Min) | 1 | 144 | ₹14,688 | ||||||||
Retail (Max) | 13 | 1,872 | ₹1,90,944 | ||||||||
S-HNI (Min) | 14 | 2,016 | ₹2,05,632 | ||||||||
S-HNI (Max) | 68 | 9,792 | ₹9,98,784 | ||||||||
B-HNI (Min) | 69 | 9,936 | ₹10,13,472 |
Regaal Resources IPO Timeline (Tentative Schedule) |
|||||||||||
IPO Open Date | Tuesday, August 12, 2025 | ||||||||||
IPO Close Date | Thursday, August 14, 2025 | ||||||||||
Basis of Allotment | Monday, August 18, 2025 | ||||||||||
Initiation of Refunds | Tuesday, August 19, 2025 | ||||||||||
Credit of Shares to Demat | Tuesday, August 19, 2025 | ||||||||||
Listing Date | Wednesday, August 20, 2025 | ||||||||||
Cut-off time for UPI mandate confirmation | 5 PM on August 14, 2025 |
Regaal Resources IPO Reservation |
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Investor Category | Shares Offered | Reservation % | |||||||||
QIB Portion | 60,00,262 | Not More than 50% of the Net Issue | |||||||||
Non-Institutional Investor Portion | 45,00,035 | Not Less than 15% of the Net Issue | |||||||||
Retail Shares Offered | 1,05,00,082 | Not Less than 35% of the Net Issue | |||||||||
Anchor Investor Portion | 89,99,856 | Allotted from QIB Portion |
Regaal Resources IPO Promoter Holding |
|||||||||||
Share Holding Pre Issue | 99.56 % | ||||||||||
Share Holding Post Issue | 70.44 % |
Regaal Resources IPO Subscription Status |
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Investor Category | Shares Offered | Shares Bid For | No oF Times Subscribed | ||||||||
Qualified Institutional Buyers (QIB) | 59,99,904 | 20,07,24,624 | 33.45 | ||||||||
Non Institutional Investors(NIIS) | 44,99,928 | 58,11,42,528 | 129.14 | ||||||||
Retail Individual Investors (RIIs) | 1,04,99,832 | 23,53,75,344 | 22.42 | ||||||||
Total | 2,09,99,664 | 1,01,72,42,496 | 48.44 |
BUSINESS OVERVIEW
According to the F&S Report, Regaal Resources is among the largest manufacturers of maize-based specialty products in India, based on an installed crushing capacity of 750 tonnes per day (TPD). The product portfolio includes:
Native and modified maize starch
Co-products such as gluten, germ, enriched fiber, and fiber
Value-added products like maize flour, icing sugar, custard powder, and baking powder
The company is headquartered in Kolkata, with a Zero Liquid Discharge (ZLD) manufacturing facility located on 54.03 acres in Kishanganj, Bihar. The plant is strategically located in a key maize cultivation belt, which experienced a sharp increase in maize production from 91,680 MT in FY23 to 417,511 MT in FY24. This location also provides logistical proximity to East and North India and key export markets such as Nepal (24 km) and Bangladesh (235 km).
Operations serve a wide base of domestic and international customers across industries including food products, paper, animal feed, and adhesives. The customer base spans manufacturers of end products, intermediate goods, and wholesale distributors. Notable clients include Emami Paper Mills, Century Pulp & Paper, Kush Proteins, Krishna Tissues, and others.
Regaal Resources began operations in 2018 with a capacity of 180 TPD, which has grown significantly over time through multiple expansions, including the installation of a starch dryer in FY25. As of May 31, 2025, the total installed capacity stood at 750 TPD.
The facility also includes large warehouses and four humidity-controlled silos, each with a capacity of 10,000 MT, supporting an aggregate maize storage of 65,000 tonnes. It is one of the few maize wet milling units in India with ZLD capability, as per F&S Report.
Maize is sourced directly from cultivators, through aggregators, and from traders in Bihar and West Bengal. This diversified procurement strategy ensures cost efficiency, quality assurance, and supply chain resilience. Regaal Resources is also noted as the only maize milling plant in Bihar, offering a distinct competitive edge.
Native maize starch forms the base for various specialty ingredient solutions used in:
Food (as thickeners, stabilizers, sweeteners, emulsifiers, etc.)
Animal nutrition (as nutritional ingredients)
Paper manufacturing (to improve bonding strength)
Industrial products (as excipients, disintegrants, binders, finishing agents, etc.)
Products are marketed across multiple Indian states, both directly and via distributors, and are exported to Bangladesh, Nepal, and Malaysia. The company also holds an FSSAI license for its food-grade products.
As of May 31, 2025, the company had 491 permanent employees. The Bankers to the company are Bandhan Bank Limited, ICICI Bank Limited, IndusInd Bank Limited, SBM Bank India Limited, Kotak Mahindra Bank, Axis Bank Limited, Punjab National Bank, HDFC Bank Limited and IDFC First Bank Limited.
INDUSTRY ANALYSIS
Overview of Agriculture Statistics and Performance
India's agricultural and allied sectors have demonstrated a resilient performance over the years. As per the "Statistical Report on Value of Output from Agriculture and Allied Sectors 2011-12 to 2023-24," FY2023 witnessed a 9.1% increase in total crop production at current prices, rising from INR 30.8 lakh crore to INR 33.6 lakh crore. However, at constant 2011-12 prices, the growth was 1.3%, moving from INR 15.7 lakh crore to INR 15.9 lakh crore. FY2024 saw a 1.1% increase in maize production value at current prices, despite unfavorable monsoon conditions.
In FY2023, agricultural production surged due to robust supply and demand drivers including good climatic conditions, infrastructure support, export growth, and government schemes like Krishi Nivesh, PMGSY, PKVY, and Krishi Udaan. Poor rainfall during FY2024 caused a dip in maize output, while FY2025 recorded a 12.2% growth in maize production, driven by better seed availability, infrastructure, and farmer preference shifts.
Maize Production and Global Standing
Maize employs over 650 million farmers and is a key crop for India. India ranks as the 6th largest maize producer globally. Between FY2020 and FY2025, maize production grew at a CAGR of 7.3%, increasing from 28.8 million tonnes to 42.3 million tonnes. The crop saw a decline in FY2024 to 37.7 million tonnes due to El Nino effects, but rebounded in FY2025.
India's global maize production share rose from 2.6% in FY2020 to 3.5% in FY2025, before slightly falling to 3.0% in FY2024. There's potential to reach 50 million tonnes by 2030 through better yields (target: 5 tons/ha), infrastructure, and value chain investments.
Maize Starch and Its Applications
Starch is a natural polymer composed of amylose and amylopectin, extracted mainly from maize, wheat, rice, potato, and tapioca. It is classified as:
Native starch (unmodified)
Modified starch (chemically or physically altered)
Derivatives (e.g., glucose syrup)
Applications include:
Food & Beverage: Thickeners in gravies, sauces
Paper: Adhesives, dry strength enhancers
Textile: Fabric stiffeners
Pharmaceuticals: Tablet disintegrants
Bioplastics: Source for biodegradable PLA
Industrial chemicals: Feedstock for ethanol
Maize Consumption Trends in India
Driven by rising demand from feed and silage industries, maize consumption is expected to grow steadily. According to OECD 2023-32, feed usage will rise from 54% (2023-24) to 58% (2032-33). Climate change, reduced arable land, and rising demand necessitate mechanization and adoption of single cross hybrids to enhance productivity.
Maize Cultivation in India
Maize is grown in both Kharif (80-83%) and Rabi (17-20%) seasons. It's the third most important cereal crop in India. Used for food, animal feed, and industrial raw materials, maize has seen expanding cultivation in both traditional and non-traditional regions.
Price Trends of Maize in India
Maize prices have risen from below INR 2,000/quintal (2022-23) to INR 2,400/quintal in 2025-26. Bihar has become a maize hub, especially in Seemanchal and Koshi regions. In Indore, new maize from Bihar fetched INR 2,300 - 2,400/quintal in 2025. Wholesale prices peaked at INR 2,333/quintal in January 2025.
State-wise Maize Production and Yield (2024-25)
Top states by production:
Madhya Pradesh (15.87%)
Karnataka (14.57%)
Bihar (11.58%)
Maharashtra (11.52%)
Others: Telangana, West Bengal, Rajasthan, Tamil Nadu
Madhya Pradesh leads in area (2.31 Mn ha) but lags in yield (2.9 t/ha) compared to Tamil Nadu (5.48 t/ha) and West Bengal (6.94 t/ha). Bihar’s Rabi maize offers an exclusive availability window, aiding supply chain continuity.
Maize Starch Manufacturing Geography
Maize starch mills are concentrated in:
West Zone: Gujarat (7), Maharashtra (5), MP (3)
South Zone: Karnataka (5), AP (4), Telangana (3), TN (1-2)
North Zone: UP (2), Uttarakhand (2), Haryana, Punjab, HP
East Zone: West Bengal (3), Bihar (1), Chhattisgarh (1)
These plants support local employment and reduce logistics inefficiencies.
Indian Native Maize Starch Market
Valued at USD 1,991 million (2024), the native maize starch market grew at a CAGR of 3.6% (2019–2024). India holds 17.4% of the global native starch export market. Major clients include Mondelez, Nestle, Britannia, ITC, Dabur, and JK Paper.
End-use sectors:
Food & Beverage (30%)
Paper
Textile
Pharma
Maize Co-Products Market
Valued at USD 570 million in 2024, expected to reach 1.65 million tons by 2029 (CAGR 4.72%).
Key Co-Products:
Maize Gluten: High protein feed, used by Godrej Agrovet, Venky’s, Avanti Foods
Maize Fiber: Improves milk yield, ethanol feedstock
Maize Steep Liquor: Used in animal feed and pharma
Maize Oil: Strong antioxidant, healthy fat source
Key Players in Maize Processing
Large Players: GAEL, Roquette, Sukhjit Starch, Bluecraft Agro
Medium Players: Sayaji Maize, Gulshan Polyols, Sahyadri Starch
Industry utilization is 85-90%. Credit terms have extended post-COVID to 45-90 days.
Modified Maize Starch Market
Valued at USD 1,310 million (2024), with CAGR of 5.87% (2024–2029). Main sectors:
Paper (55.8%)
Food & Beverage (10.1%)
Textile and Pharma
Used in sauces, snacks, dairy, RTE foods, and pharmaceuticals (disintegrants and binders).
Indian Starch Derivatives Market
Liquid Glucose
Market Size: USD 195.2 million (2024)
CAGR: 3.9% till 2029
Applications: Confectionery, pharma, canned fruits, shoe polish, tanning
Maltodextrin
Market Size: USD 151.5 million (2024), growing at 6.84% CAGR
Applications: Nutraceuticals, infant formula, snacks, dairy, oil drilling fluids
Key Players: Bluecraft Agro, Cargill, Roquette, GAEL, Gulshan Polyols
Dextrose
Monohydrate Market: USD 103.78 million (2024), CAGR 5.74%
Anhydrous Market: USD 78 million (2024), CAGR 3.64%
Applications: Bakery, confectionery, canned food, industrial adhesives, alcoholic beverages
Key Players: GAEL, Sayaji, Roquette, Sukhjit
This comprehensive overview highlights India's robust maize and starch ecosystem, its future growth prospects, and the evolving demand-supply dynamics across multiple industrial sectors.
BUSINESS STRENGTHS
1. Strategic Location Near Raw Material and Consumption Markets
The manufacturing facility is located in Kishanganj, Bihar, one of India's largest maize cultivation hubs. It is situated 21 km from the West Bengal border and 209 km from the Assam border, offering close proximity to major maize-growing regions. As per the F&S Report (2024–2025), Bihar and West Bengal are traditional maize-producing states, with the Seemanchal and Koshi regions emerging as key maize farming zones. The location provides direct access to both raw material and high-demand markets across eastern and northern India.
2. Diversified and Efficient Raw Material Procurement Strategy
Maize is sourced through a well-established procurement network comprising:
Direct procurement from farmers via aggregators
Local traders in Bihar and West Bengal
Established agri-distribution companies
This multi-channel approach ensures consistent supply and cost efficiency.
3. Sustainability-Focused Manufacturing with High Capacity Utilization
The wet milling facility has undergone continuous upgrades to improve sustainability and process efficiency. The focus on technology and process optimization is reflected in consistently high levels of capacity utilization.
4. Established Sales and Distribution Network
Products are marketed across pan-India and exported to multiple countries including Bangladesh, Nepal, and Malaysia, supported by a strong distribution infrastructure.
5. Experienced Promoters and Management Team
Led by Anil Kishorepuria (Chairman and Managing Director) and Karan Kishorepuria (Executive Director), the leadership team brings deep industry experience. The board includes seasoned independent directors, supported by a skilled senior management team including Saikat Chatterjee (CFO), Harish Kumar Singh (DGM – Plant Operations), Vivek Lilha (DGM – Procurement), and Rohan Kishorepuria (VP – Sales and Services).
6. Strong Financial Growth Track Record
Revenue from operations grew at a CAGR of 36.95%, rising from ₹4,879.55 million in FY 2023 to ₹9,151.61 million in FY 2025. EBITDA increased at a CAGR of 66.53%, from ₹406.73 million to ₹1,127.90 million over the same period, indicating robust operational and financial performance.
BUSINESS STRATEGIES
1. Capacity Expansion through Brownfield Development
An application has been submitted to the Bihar State Pollution Control Board to enhance the installed crushing capacity from 750 TPD to 1,650 TPD. The existing 54.03-acre facility in Kishanganj, Bihar, has ample unused land to support this expansion, aimed at meeting anticipated demand from end-user industries.
2. Balance Sheet Deleveraging
A strategic focus is placed on reducing outstanding borrowings, which stood at ₹5,611.53 million as of June 30, 2025. This initiative targets improved financial health by lowering finance costs incurred over recent fiscals.
3. Product Diversification with Derivatives and Modified Starches
The product portfolio has grown to 14 offerings as of May 31, 2025, including native maize starch, dextrins, oxidized and edible starches, and other value-added derivatives, marking significant progress within six years.
4. Expanding Geographic Footprint
Efforts are underway to strengthen market presence in domestic regions, including South Indian states like Andhra Pradesh and Telangana, along with furthering exports.
5. Growth in White Labelling Segment
White labelling operations commenced in Fiscal 2025 with products such as maize flour and baking ingredients, manufactured to client specifications. Expansion plans and focus on process standardization are expected to scale up this business vertical.
BUSINESS RISK FACTORS & CONCERNS
1. High Dependency on Select Vendors for Maize Procurement
Over 83% of maize purchases are sourced from the top 10 vendors, without long-term contracts. This heavy reliance on a few vendors or aggregators, including direct cultivator sourcing, poses supply chain and pricing risks.
2. Single Manufacturing Facility Risk
Operations are concentrated in a single zero liquid discharge (ZLD) plant in Kishanganj, Bihar. Any operational disruption due to equipment failure, power issues, labour unrest, natural disasters, or accidents could significantly affect financial and operational performance.
3. Seasonal Nature and Price Volatility of Maize
Maize, the key raw material, is seasonal and largely grown during the kharif season. Supply interruptions or price volatility may impact product pricing, operational stability, and cash flows.
4. Geographic Concentration of Sales
Sales are heavily concentrated in select Indian states and neighboring countries like Bangladesh, Nepal, and Malaysia. Any disruption or underperformance in these regions could adversely impact revenues and growth prospects.
5. Exposure to Export Duties and Restrictions
Although the majority of revenue is domestic, exports to international markets may face high import duties or trade restrictions, potentially affecting international sales margins and competitiveness.
Summary :
Regaal Resources faces key operational risks due to reliance on a few maize suppliers, a single manufacturing unit, and seasonal raw material availability. Additionally, geographic sales concentration and potential export barriers could pose challenges to revenue stability and business continuity.
Period Ended | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
---|---|---|---|
Reserve of Surplus | 2,024.40 | 1,251.22 | 1,029.24 |
Total Assets | 8,602.65 | 5,859.71 | 3,715.20 |
Total Borrowings | 5,070.48 | 3,572.13 | 1,889.32 |
Fixed Assets | 3,714.03 | 3,004.23 | 1,752.74 |
Cash | 528.95 | 197.76 | 0.92 |
Net Borrowing | 4,541.53 | 3,374.37 | 1,888.40 |
Revenue | 9,175.76 | 6,010.77 | 4,886.74 |
EBITDA | 9,051.83 | 6,002.42 | 4,848.78 |
PAT | 476.68 | 221.42 | 167.58 |
EPS | 6.05 | 2.89 | 2.2 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue, given in FINANCIAL EXPRESS.
Key Performance Indicator |
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KPI | Values | ||||||||||
EPS Pre IPO (Rs.) | ₹ 6.05 | ||||||||||
EPS Post IPO (Rs.) | ₹ 4.64 | ||||||||||
P/E Pre IPO | 16.85 | ||||||||||
P/E Post IPO | 21.98 | ||||||||||
ROE | 20.25 % | ||||||||||
ROCE | 14.17 % | ||||||||||
P/BV | 2.35 | ||||||||||
Debt/Equity | 2.08 | ||||||||||
RoNW | 20.25 % |
Regaal Resources Limited IPO Peer Comparison |
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Company Name | EPS | ROCE | ROE | P/E (x) | P/Bv | Debt/Equity | RoNW (%) | ||||
Regaal Resources Limited | ₹ 4.64 | 14.17 % | 20.25 % | 21.98 | 2.35 | 2.08 | 20.25 % | ||||
Sanstar Limited | ₹ 2.40 | 11.7 % | 9.60 % | 35.4 | 2.35 | 0.04 | 9.60 % | ||||
Gujarat Ambuja Exports Limited | ₹ 5.18 | 11.5 % | 8.64 % | 20.2 | 1.60 | 0.08 | 8.64 % | ||||
Gulshan Polyols Limited | ₹ 3.97 | 6.47 % | 4.12 % | 43.4 | 1.75 | 0.64 | 4.12 % | ||||
Sukhjit Starch and Chemicals Limited | ₹ 12.8 | 9.43 % | 6.98 % | 15.0 | 1.00 | 0.55 | 6.98 % |
REGAAL RESOURCES LIMITED
6th Floor, D2/2, Block-EP & GP, Sector-V, Kolkata, West Bengal, India, 700091
Contact Person : Tinku Kumar Gupta
Telephone : 033 3522 2405
Email : cs@regaal.in
Website : https://regaalresources.com/
Registrar : MUFG Intime India Private Limited (Formerly Link Intime India Private Limited)
Contact Person : Shanti Gopalkrishnan
Telephone : +91 810 811 4949
Email : regaalresources.ipo@in.mpms.mufg.com
Website : https://in.mpms.mufg.com/
Lead Manager :
Pantomath Capital Advisors Private Limited
Telephone : 1800 889 8711
Sumedha Fiscal Services Limited
Telephone : +91 332 229 8936 / 6813 5900
Regaal Resources Limited (RRL) is a leading agro-processing company based out of India engaged in the manufacturing of best quality maize starch, specialty starches, food grade starches and starch derivative products.
Regaal Resources Limited’s promoters, Mr Anil Kishorepuria and Mr Karan Kishorepuria combined have close to three decades of experience in the manufacturing, retail, real estate, and trading industry giving them the understanding of market dynamics. Also, this has helped them to establish working relationships with suppliers and customers. Managing Director, Mr Anil Kishorepuria has 25+ years of experience in manufacturing, real estate, retail and trading industry and has been instrumental in setting up the first & only maize milling unit in Bihar.
The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 9,175.76 Million, ₹ 6,010.77 Million and ₹ 4,886.74 Million. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 9,051.83 Million, ₹ 6,002.42 Million and ₹ 4,848.78 Million. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 476.68 Million, ₹ 221.42 Million and ₹ 167.58 Million respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹ 6.05 and post-issue EPS of ₹ 4.64 for FY24. The pre-issue P/E ratio is 16.85x, while the post-issue P/E ratio is 21.98x against the Industry P/E ratio is 29x. The company's ROCE for FY24 is 14.17%, ROE for FY24 is 20.25% and RoNW is 2.25%. These metrics suggest that the IPO is fairly priced.
The Grey Market Premium (GMP) of Regaal Resources showing listing gains of 13.73 %.Given the company's financial performance and the valuation of the IPO, we recommend Risky Investors to Apply to the Regaal Resources Limited IPO for Listing gain.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.
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