Organic Recycling Systems IPO is a fixed price issue of Rs 50.00 crores. The issue is entirely a fresh issue of 25 lakh shares.
Organic Recycling Systems IPO bidding opened for subscription on September 21, 2023 and will close on September 26, 2023. The allotment for the Organic Recycling Systems IPO is expected to be finalized on Friday, September 29, 2023. Organic Recycling Systems IPO will list on BSE SME with tentative listing date fixed as Thursday, October 5, 2023.
Organic Recycling Systems IPO price is ₹200 per share. The minimum lot size for an application is 600 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (1,200 shares) amounting to ₹240,000.
Arihant Capital Markets Ltd is the book running lead manager of the Organic Recycling Systems IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Organic Recycling Systems IPO is Arihant Capital Markets.
Refer to Organic Recycling Systems IPO RHP for detailed information.
Organic Recycling Systems IPO Details
| IPO Date | September 21, 2023 to September 26, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹200 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 2,500,200 shares (aggregating up to ₹50.00 Cr) |
| Fresh Issue | 2,500,200 shares (aggregating up to ₹50.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 5,199,075 |
| Share holding post issue | 7,699,275 |
| Market Maker portion | 130,200 shares Arihant Capital Markets |
Organic Recycling Systems IPO Reservation
Organic Recycling Systems IPO a total of 2,500,200 shares are offered. RII: 1,185,000 (47.40%), NII: 1,185,000 (47.40%).
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 130,200 (5.21%) |
| Other Shares Offered | 1,185,000 (47.40%) |
| Retail Shares Offered | 1,185,000 (47.40%) |
| Total Shares Offered | 2,500,200 (100%) |
Organic Recycling Systems IPO Timeline (Tentative Schedule)
Organic Recycling Systems IPO opens on September 21, 2023, and closes on September 26, 2023.
| IPO Open Date | Thursday, September 21, 2023 |
| IPO Close Date | Tuesday, September 26, 2023 |
| Basis of Allotment | Friday, September 29, 2023 |
| Initiation of Refunds | Tuesday, October 3, 2023 |
| Credit of Shares to Demat | Wednesday, October 4, 2023 |
| Listing Date | Thursday, October 5, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 26, 2023 |
Organic Recycling Systems IPO Lot Size
Investors can bid for a minimum of 600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹120,000 |
| Retail (Max) | 1 | 600 | ₹120,000 |
| HNI (Min) | 2 | 1,200 | ₹240,000 |
| Lot Size Calculator |
Organic Recycling Systems IPO Promoter Holding
Mr. Sarang Bhand is the promoter of the company.
| Share Holding Pre Issue | 30.14% |
| Share Holding Post Issue | 20.35% |
About Organic Recycling Systems Limited
Incorporated in 2008, Organic Recycling Systems Limited is an engineering company offering sustainable waste management solutions.
Organic Recycling Systems’s business verticals include the Build Own Operate Transfer (BOOT) model, the Engineering Procurement and Commissioning (EPC) model and the Supply of Key Equipment. The company offers services such as EPC (Engineering, Procurement, and Construction) services in waste management, commissioning services, consulting and advisory services in the waste management sector, planning, building, and managing waste management projects, laboratory services and more.
Organic Recycling Systems (ORS) also set up an MSW processing and disposal plant in Solapur, Maharashtra to convert Municipal Solid Waste (MSW) into electricity and compost.
ORS has developed a patented DRY ANAEROBIC DIGESTION (DRYAD) technology which is capable of treating several kinds of waste and the same is also proven through its use in the Solapur plant.
Competitive Strength:
Proven Technology and capability.
Penetration into Multiple Business Verticals.
Lucrative Prospects of the Market.
UN Sustainability Development Goals.
Experience of the Promoters and Management personnel.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 10,272.69 | 10,669.35 | 11,931.10 |
| Revenue | 1,578.18 | 1,756.67 | 2,534.10 |
| Profit After Tax | -449.37 | -535.03 | 365.38 |
| Net Worth | 1,343.88 | 808.86 | 2,550.07 |
| Reserves and Surplus | 1,298.11 | 763.08 | 2,014.40 |
| Total Borrowing | 5,449.89 | 5,418.38 | 6,981.41 |
Amount in ₹ Lakhs
Key Performance Indicator
Organic Recycling Systems IPO Market Cap is Rs 153.99 Cr and P/E (x) is 25.54.
| KPI | Values |
|---|---|
| P/E (x) | 25.54 |
| Post P/E (x) | 42.11 |
| Market Cap (₹ Cr.) | 153.99 |
| ROE | 21.76% |
| ROCE | 13.06% |
| Debt/Equity | 2.7 |
| EPS (Rs) | 7.83 |
| RoNW | 14.33% |
Check Organic Recycling Systems IPO Peer Comparison here.
Objects of the Issue (Organic Recycling Systems IPO Objectives)
The company intends to utilize the Net Issue Proceeds for the following Objects:
1. Reduction of the aggregate outstanding borrowings of the Company.
2. Towards general corporate purposes.
Organic Recycling Systems IPO Review (May apply)
[Dilip Davda] The company is engaged in waste management with more technological aspects to bring a win-win situation for all. The company suffered setbacks for FY21 and FY22 following the Pandemic impact. FY23 performance indicates the prospects ahead for the specialized services and solutions segment in the MSW projects. The issue appears aggressively priced. However, well-informed/cash surplus investors may park funds for the medium to long-term rewards. Read detail review…
Organic Recycling Systems IPO Subscription Status (Bidding Detail)
The Organic Recycling Systems IPO is subscribed 0.99 times on Sep 22, 2023 7:02:00 PM. The public issue subscribed 0.38 times in the retail category, times in the QIB category, and 1.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 1.59 |
| Retail | 0.38 |
| Total | 0.99 |
Total Application : 754 (0.38 times)
Organic Recycling Systems IPO Prospectus
Organic Recycling Systems IPO Contact Details
Organic Recycling Systems Limited
Office No. 1003, 10th Floor,
The Affaires Plot No. 9, Sector-17,
Sanpada, Navi Mumbai- 400705
Phone: 022-41702222
Email: cs@organicrecycling.co.in
Website: https://organicrecycling.co.in/
Organic Recycling Systems IPO Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues