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 Ratio | 1.88 |
| ROE | 43.19% |
| ROCE | 22.97% |
| Return on Net Worth (RoNW) | 23.44% |
Objects of the Issue,
- Funding Capital Expenditure of the Company
- General Corporate Purpose
- To meet Public Issue Expenses
Financial Highlights (Restated)
| Particulars | Period ended on 30th June 2023 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Net Worth | 2,558.24 | 2,365.55 | 201.90 | 149.71 | |
| Total Assets | 9,847.95 | 7,782.64 | 3,753.42 | 2,578.48 | 2,645.34 |
| Reserve & Surplus | 2,343.54 | 2,150.97 | 190.12 | 137.93 | 318.12 |
| Total Borrowings | 5,178.96 | 4,450.93 | 1,809.51 | 2,286.28 | |
| Total Revenue | 11,276.10 | 42,887.35 | 4,091.30 | 1,100.69 | 1,497.33 |
| Profit After Tax | 192.57 | 554.47 | 52.19 | (180.18) | (97.02) |
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 Type | Book Built Issue IPO |
| IPO Price | ₹ 47 to ₹ 50 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 3,000 Shares |
| Issue Size | 9,561,000 shares (aggregating up to ₹ 47.81 crores) |
| Fresh Issue | 8,895,000 shares (aggregating up to ₹ 44.48 crores) |
| Offer for Sale | 666,000 shares (aggregating up to ₹ 3.33 crores) |
| Listing At | NSE SME |
Market Maker detail
| Market maker | Spread X Securities |
| Market maker portion | 501,000 shares |
Shareholding Pattern
| Shareholding pre-issue | 15,020,852 |
| Shareholding post issue | 23,915,852 |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net offer |
| NII (HNI) shares offered | Not less than 15% of the offer |
| Retail shares offered | Not 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 Date | October 17, 2023 |
| Closing Date | October 20, 2023 |
| Basis of Allotment | October 26, 2023 |
| Initiation of Refunds | October 27, 2023 |
| A credit of shares to Demat A/c | October 30, 2023 |
| Listing Date | October 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.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹ 150,000 |
| Retail (Maximum) | 1 | 3,000 | ₹ 150,000 |
| HNI (Minimum) | 2 | 6,000 | ₹ 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 Holdings | 100% |
| Post-issue Shares Holdings | – |
SWOT Analysis of Rajgor Castor Derivatives Ltd.
| STRENGTHS | WEAKNESSES |
|---|---|
| ● Experienced Management ● Diversified Business ● Locational Advantage | ● Working Capital Intensive Business ● Timely Availability of Raw Materials ● Labour Intensive business |
| OPPORTUNITIES | THREATS |
| ● 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 Information | Rajgor Castor Derivatives Limited 807, Titanium One, Nr. Pakwan Cross Road, Nr. Shabri Water Works, S.G. Highway Bodakdev, Ahmedabad-380054 Phone: +91 9898926368 Email: cs@rajgorcastor.com Website: https://www.rajgorcastor.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: rajgorcastorderivatives.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
| IPO Lead Manager(s) | Beeline Capital Advisors Pvt Ltd |
FAQs
What is Rajgor Castor Derivatives’s IPO price?
The Rajgor Castor Derivatives IPO price is ₹ 47 to ₹ 50 per share.
What minimum lot size can retail investors subscribe to?
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.
When will the Rajgor Castor Derivatives IPO allotment be available?
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.
When will the Rajgor Castor Derivatives IPO be listed on exchanges?
The Rajgor Castor Derivatives IPO shares listing date is October 31, 2023.
How many Rajgor Castor Derivatives IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.
