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Rajgor Castor Derivatives IPO Detail 2023

Rajgor Castor Derivatives IPO Detail 2023

Introduction

The Rajgor Castor Derivatives IPO will open on October 17 and close on October 20, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 47.81 crore through this public offering, consisting of 95.61 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 47 to ₹ 50 per share.

Rajgor Castor Derivatives Limited (“the Company”)

Rajgore Castor Derivatives Limited was incorporated in 2018. Rajgor Castor Derivatives Limited has commenced manufacturing of Refined Castor Oil First Stage Grade (F.S.G.), Castor De-Oiled Cake, and High Protein Castor De-Oiled Cake for the domestic market. 

Castor oil is a yellow, viscous liquid free from suspended matter and insoluble in water. It is produced by refining commercial-grade castor oil after undertaking the bleaching and filtering processes. Castor oil has multiple industrial applications and is extensively demanded in lubricants, paints, pharmaceuticals, cable insulators, sealants, inks, rubber, textiles, etc. It is also used to treat constipation, grow eyelashes, grow hair, moisturize the skin, and boost immunity. It is also used for applying to food grains to protect them from insects and fungi. Castor De-Oil Cake is a fertilizer consisting of a high content of nitrogen, phosphoric acid, potassium, and moisture retention. It is also an organic fertilizer that can be used as an alternative to chemical fertilizer. It is simple manure that acts progressively and encourages soil microbial activity. High Protein Castor De-Oiled Cake is an organic manure that enhances the fertility of the soil without causing any damage or decay.

Company Key Metrics

Earning Per Share (EPS)₹ 30.06 per Equity Share
Debt to Equity Ratio1.88
ROE43.19%
ROCE22.97%
Return on Net Worth (RoNW)23.44%

Objects of the Issue,

  1. Funding Capital Expenditure of the Company
  1. General Corporate Purpose
  2. To meet Public Issue Expenses

Financial Highlights (Restated)

ParticularsPeriod ended on 30th June 2023FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Net Worth2,558.242,365.55201.90149.71
Total Assets9,847.957,782.643,753.422,578.482,645.34
Reserve & Surplus2,343.542,150.97190.12137.93318.12
Total Borrowings5,178.964,450.931,809.512,286.28
Total Revenue11,276.1042,887.354,091.301,100.691,497.33
Profit After Tax192.57554.4752.19(180.18)(97.02)
(Amount in ₹ Lakhs)

Rajgor Castor Derivatives IPO details

As per the DRHP filed with SEBI, 88.95 lakhs shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 5.01 lakh shares of the offering. While Beeline Capital Advisors Pvt Ltd will be the lead manager for the IPO, Link Intime India Private Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.

Issue TypeBook Built Issue IPO
IPO Price₹ 47 to ₹ 50 per share
Face Value₹ 10 per share
Market Lot3,000 Shares
Issue Size9,561,000 shares (aggregating up to ₹ 47.81 crores)
Fresh Issue8,895,000 shares (aggregating up to ₹ 44.48 crores)
Offer for Sale666,000 shares (aggregating up to ₹ 3.33 crores)
Listing AtNSE SME

Market Maker detail

Market makerSpread X Securities
Market maker portion501,000 shares

Shareholding Pattern

Shareholding pre-issue15,020,852
Shareholding post issue23,915,852

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot less than 35% of the offer

Rajgor Castor Derivatives IPO GMP

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.

Rajgor Castor Derivatives IPO Tentative Dates

The issue opens for subscription on October 17, 2023, and closes for subscription on October 20, 2023 (both days inclusive). The basis of allotment will be finalised on October 26, 2023, and the refunds will be initiated on October 27, 2023. In addition, the demat credits are expected to happen on October 30, 2023, and the stock will be listed on the NSE SME  on October 31, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateOctober 17, 2023
Closing DateOctober 20, 2023
Basis of AllotmentOctober 26, 2023
Initiation of RefundsOctober 27, 2023
A credit of shares to Demat A/cOctober 30, 2023
Listing DateOctober 31, 2023

Lot Size of Rajgor Castor Derivatives IPO

The lot size of the Rajgor Castor Derivatives IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 3,000 shares of ₹ 150,000.

ApplicationsLotsSharesAmount 
Retail (Minimum)13,000₹ 150,000
Retail (Maximum)13,000₹ 150,000
HNI (Minimum)26,000₹ 300,000

Promoters Holdings 

Mr. Brijeshkumar Vasantlal Rajgor, Mr. Vasantkumar Shankarlal Rajgor, and Mr. Maheshkumar Shankarlal Rajgor are the promoters of the company.

Pre-issue Shares Holdings100%
Post-issue Shares Holdings

SWOT Analysis of Rajgor Castor Derivatives Ltd.

STRENGTHSWEAKNESSES
● Experienced Management
● Diversified Business
● Locational Advantage
● Working Capital Intensive Business
● Timely Availability of Raw Materials
● Labour Intensive business
OPPORTUNITIESTHREATS
● Enhancing operational efficiency
● Exploring Export Market
● Achieving Scale of Business Operations
● Increasing Competition
● Changes in Government Policies

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationRajgor Castor Derivatives Limited
807, Titanium One, Nr. Pakwan Cross Road, Nr. Shabri Water Works,
S.G. Highway Bodakdev, Ahmedabad-380054
Phone: +91 9898926368
Email: [email protected]
Website: https://www.rajgorcastor.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/mipo/ipoallotment.html
IPO Lead Manager(s)Beeline Capital Advisors Pvt Ltd

FAQs

The Rajgor Castor Derivatives IPO price is ₹ 47 to ₹ 50 per share.

The minimum investment size is one lot for retail investors. One lot of the Rajgor Castor Derivatives IPO contains 3,000 shares of ₹ 150,000.

The finalisation of the basis of allotment for the Rajgor Castor Derivatives IPO will be done on October 26, 2023, and the allotted shares will be credited to your demat account by October 30, 2023. Check the Rajgor Castor Derivatives IPO allotment status.

The Rajgor Castor Derivatives IPO shares listing date is October 31, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

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