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Organic Recycling Systems IPO Detail 2023

Organic Recycling Systems IPO Detail 2023

Introduction

The Organic Recycling Systems IPO will open on September 21 and close on September 26, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 50 crore through this public offering, consisting of 25 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 200 per share.

Organic Recycling Systems Limited (“the Company”)

Organic Recycling Systems Ltd. was incorporated in 2008. It is an engineering company focused on environmental solutions that provide waste management solutions across waste types and across the value chain.

Incorporated by technocrats, its focus has primarily been on developing robust, cost-effective, and environment-friendly technologies that are simple to operate. They have proven technology and the capability of successfully running one of India’s first waste-to-energy (WTE) plants developed on anaerobic biomethanation technology.

The anaerobic biomethanation technique has been recognized as a promising technology as per the National Master Plan issued by the Government of India. They have also set up an MSW processing and disposal plant in Solapur, Maharashtra, to convert municipal solid waste (MSW) into electricity and compost. The plant has been operational since 2013, with the plant being recognized as one of the case studies for best practices for MSWM under the Swachh Bharat Mission and various other reports.

Their business verticals include the Build Own Operate Transfer (BOOT) model, the Engineering Procurement and Commissioning (EPC) model, and the supply of key equipment.

Company Key Metrics

Earning Per Share (EPS)₹ 7.83 per Equity Share
Debt to Equity Ratio2.7
ROE21.76%
ROCE13.06%
P/E (x)25.54
Return on Net Worth (RoNW)14.33%

Objects of the Issue,

  1. Reduction of the aggregate outstanding borrowings of the Company.
  2. Towards general corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth2,550.07808.861,343.88
Total Assets11,931.1010,669.3510,272.69
Reserve & Surplus2,014.40763.081,298.11
Total Borrowings6,981.415,418.385,449.89
Total Revenue2,534.101,756.671,578.18
Profit After Tax365.38(535.03)(449.37)
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 25 lakh shares will be offered as a fresh issue in the BSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 1.30 lakh shares of the offering. While Arihant Capital Markets Ltd will be the lead manager for the IPO, Maashitla Securities Private Limited will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.

Issue TypeFixed Price Issue IPO
IPO Price₹ 200 per share
Face Value₹ 10 per share
Market Lot600 shares
Issue Size2,500,200 shares (aggregating up to ₹ 50 crores)
Fresh Issue2,500,200 shares (aggregating up to ₹ 50 crores)
Listing AtBSE SME

Market Maker detail

Market makerArihant Capital Markets
Market maker portion130,200 shares

Shareholding Pattern

Shareholding pre-issue5,199,075
Shareholding post issue7,699,275

IPO Reservation

CategoriesNo. of shares offered
Other shares offered50% of the net issue including qualified institutional buyers
Retail shares offered50% of the net offer

GMP: Organic Recycling Systems IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Organic Recycling Systems IPO

The issue opens for subscription on September 21, 2023, and closes for subscription on September 26, 2023 (both days inclusive). The basis of allotment will be finalised on September 29, 2023, and the refunds will be initiated on October 3, 2023. In addition, the demat credits are expected to happen on October 4, 2023, and the stock will be listed on the BSE SME on October 5, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateSeptember 21, 2023
Closing DateSeptember 26, 2023
Basis of AllotmentSeptember 29, 2023
Initiation of RefundsOctober 3, 2023
A credit of shares to Demat A/cOctober 4, 2023
Listing DateOctober 5, 2023

Lot Size

The lot size of the Organic Recycling Systems IPO is 600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 600 shares of ₹ 120,000.

ApplicationsLotsSharesAmount 
Retail (Minimum)1600₹ 120,000
Retail (Maximum)1600₹ 120,000
HNI (Minimum)21,200₹ 240,000

Promoters Holdings 

Mr. Sarang Bhand are the promoters of the company.

Pre-issue Shares Holdings30.14%
Post-issue Shares Holdings20.35%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationOrganic Recycling Systems Limited
Office No. 1003, 10th Floor, The Affaires Plot No. 9, Sector-17, Sanpada, Navi Mumbai- 400705
Phone:
022-41702222
Email:
[email protected]
Website: https://organicrecycling.co.in/
IPO RegistrarMaashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: [email protected]
Website: https://maashitla.com/allotment-status/public-issues
IPO Lead Manager(s)Arihant Capital Markets Ltd

FAQs

The Organic Recycling Systems IPO price is ₹ 200 per share.

The minimum investment size is one lot for retail investors. One lot of the Organic Recycling Systems IPO contains 600 shares of ₹ 120,000.

The finalisation of the basis of allotment for the Organic Recycling Systems IPO will be done on September 29, 2023, and the allotted shares will be credited to your demat account by October 4, 2023. Check the Organic Recycling Systems IPO allotment status.

The Organic Recycling Systems IPO shares listing date is October 5, 2023.

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