ResGen Limited IPO : Company Highlights

ResGen Limited IPO is set to launch on 24 Feb, 2023. The company initiated its business operations in the year 2018. It has been making pyrolysis oil which is a substitute for furnace oil. The speciality of it is that it is made from waste plastics. It aims to make environmentally friendly products commercially viable and scalable. The innovation introduced by the company is called PlasEco. The by-products generated during the process can also be used in place of coal, and Gas and these are substitutes for LPG gas.

ResGen Limited IPO DETAILS

ResGen Limited IPO is set to launch on 28 Feb., 2023. The subscription timeline extends till 2 March, 2023. The size for the IPO is 28.20 Crore Rs. Shares issued through fresh issue mode are worth 28.20 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 3000 shares and the price is 45 to 47 Rs per share. The company is going to get listed at BSE SME. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Bigshare Services Private Limited.

Tabular Description of ResGen Limited IPO 

ResGen Limited IPO : IMPORTANT DATES

ResGen Limited IPO begins for subscription from 28 Feb., 2023. The IPO subscription would continue till 2 March, 2023. The allotment status for the shareholders who applied would come on 8 March, 2023. The refunds for the ones who did not get allotment would be initiated on 9 March, 2023. The DEMAT accounts of shareholders would be credited on 10 March, 2023. The listing of the company would be accompanied on 13, March 2023.

ResGen Limited IPO : Lead Managers

The lead managers are :

• First Overseas Capital Limited

The minimum lot size for the company is decided at  3000 shares. This holding accounts to  141000 Rs.. The maximum lot size is decided at 6000 shares (HNI). This amounts to 282000 Rs.. Hence the company’s final holdings would be set as :

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The money raised will be also utilised for the working capital requirements.
• The IPO money will also be used for further expansion of [lans. The company wants to purchase new land near the manufacturing facility for the same purposes. 

COMPANY FINANCIALS

ResGen Limited had an asset base of 162 Lakh Rs in 2020 which increased to 1100 Lakh Rs in 2021 and 1372 Lakh Rs in 2022. The company is also planning expansion by purchase of new land. The revenue for the company was 2 Lakh Rs in 2021 which increased to 480 Lakh Rs in 2022 and is recorded at 1265 Lakh Rs in 2022 December. The company was making a loss of 15 Lakh in 2020 which turned around towards profit in 2021 at 63000 Rs. However the profit jumped to 73 Lakh Rs in 2022 and is recorded at 246 Lakh Rs in 2022 December.

PROS

• ResGen Limited has a very unique product and a manufacturing process for doing it. It has been making pyrolysis oil which is a substitute for furnace oil. The speciality of it is that it is made from waste plastics.
• The company has a strong fundamental belief for saving the environment and has been profitable in doing the same through repurposing of waste plastics. 
•  The by-products generated during the process can also be used in place of coal, and Gas and these are substitutes for LPG gas.

CONS

• The company works in a highly competitive segment. 

ResGen Limited IPO APPLICATION PROCESS WITH ZERODHA

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform.
2. Clicking the IPO link present in the Portfolio section.
3. Click the ResGen Limited IPO button and press the BID button.
4. Entering the details asked for like UPI ID, Quantity and price.
5. Submit the application form for the IPO.
6. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.