Rajgor Castor Derivatives IPO is a book built issue of Rs 47.81 crores. The issue is a combination of fresh issue of 88.95 lakh shares aggregating to Rs 44.48 crores and offer for sale of 6.66 lakh shares aggregating to Rs 3.33 crores.
Rajgor Castor Derivatives IPO opens for subscription on October 17, 2023 and closes on October 20, 2023. The allotment for the Rajgor Castor Derivatives IPO is expected to be finalized on Thursday, October 26, 2023. Rajgor Castor Derivatives IPO will list on NSE SME with tentative listing date fixed as Tuesday, October 31, 2023.
Rajgor Castor Derivatives IPO price band is set at ₹47 to ₹50 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹150,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹300,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Rajgor Castor Derivatives IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Rajgor Castor Derivatives IPO is Spread X Securities.
Refer to Rajgor Castor Derivatives IPO RHP for detailed information.
Rajgor Castor Derivatives IPO Details
| IPO Date | October 17, 2023 to October 20, 2023 |
| Listing Date | [31/10/2023] |
| Face Value | ₹10 per share |
| Price Band | ₹47 to ₹50 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 9,561,000 shares (aggregating up to ₹47.81 Cr) |
| Fresh Issue | 8,895,000 shares (aggregating up to ₹44.48 Cr) |
| Offer for Sale | 666,000 shares of ₹10 (aggregating up to ₹3.33 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 15,020,852 |
| Share holding post issue | 23,915,852 |
| Market Maker portion | 501,000 shares Spread X Securities |
Rajgor Castor Derivatives IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Rajgor Castor Derivatives IPO Anchor Investors Details
Rajgor Castor Derivatives IPO raises Rs 13.56 crore from anchor investors. Rajgor Castor Derivatives IPO Anchor bid date is October 16, 2023.
| Bid Date | October 16, 2023 |
| Shares Offered | 2,712,000 |
| Anchor Portion Size (In Cr.) | 13.56 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 11, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 5, 2024 |
Rajgor Castor Derivatives IPO Timeline (Tentative Schedule)
Rajgor Castor Derivatives IPO opens on October 17, 2023, and closes on October 20, 2023.
| IPO Open Date | Tuesday, October 17, 2023 |
| IPO Close Date | Friday, October 20, 2023 |
| Basis of Allotment | Thursday, October 26, 2023 |
| Initiation of Refunds | Friday, October 27, 2023 |
| Credit of Shares to Demat | Monday, October 30, 2023 |
| Listing Date | Tuesday, October 31, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 20, 2023 |
Rajgor Castor Derivatives IPO Lot Size
Investors can bid for a minimum of 3000 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 | 3000 | ₹150,000 |
| Retail (Max) | 1 | 3000 | ₹150,000 |
| HNI (Min) | 2 | 6,000 | ₹300,000 |
| Lot Size Calculator |
Rajgor Castor Derivatives IPO Promoter Holding
Mr. Brijeshkumar Vasantlal Rajgor, Mr. Vasantkumar Shankarlal Rajgor and Mr. Maheshkumar Shankarlal Rajgor are the company’s promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue |
About Rajgor Castor Derivatives Limited
Incorporated in 2018, Rajgor Castor Derivatives Limited manufactures castor oil-based products for the Indian market.
The company’s product list includes:
- Refined Castor Oil First Stage Grade (F.S.G.): F.S.G. Castor Oil is Castor Oil bleached to British Standard Specifications. It is used in Lubricants, Paints, Pharmaceuticals, Cable insulators, Sealants, Inks, Rubber and Textiles, etc. It is also used to relief Constipation, Eyelashes growth, Hair grow, Skin moisturiser ad to improve immunity function as well as for applying on food grains to protect from insects/fungi.
- Castor De-Oiled Cake: It is produced by crushing castor seeds in an expeller to extract oil from it at a controlled temperature with the help of steam. It is used as a fertilizer because of the high content of Nitrogen, Phosphoric Acid, Potash, and moisture retention.
- High Protein Castor De-Oiled Cake: It is an organic manure that enhances the fertility of the soil without causing any damage or decay.
The company’s manufacturing unit is located in Banaskantha. As of July 31, 2023, the company employs over 60 employees.
Rajgor Castor Derivatives’ clientele includes manufacturers of Lubricants, Paints, Pharmaceuticals, Cable insulators, Sealants, Inks, Rubber, and Textiles, farmers and manufacturers of organic fertilizers, poultry farms, and manufacturers of organic fertilizers.
Rajgor Castor Derivatives Limited Financial Information (Restated)
Rajgor Castor Derivatives Limited’s revenue increased by 948.26% and profit after tax (PAT) rose by 962.41% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
| Assets | 9,847.95 | 7,782.64 | 3,753.42 | 2,578.48 | 2,645.34 |
| 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 |
| Net Worth | 2,558.24 | 2,365.55 | 201.90 | 149.71 | |
| Reserves and Surplus | 2,343.54 | 2,150.97 | 190.12 | 137.93 | 318.12 |
| Total Borrowing | 5,178.96 | 4,450.93 | 1,809.51 | 2,286.28 | |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| Post P/E (x) | 15.48 |
| Market Cap (₹ Cr.) | 119.58 |
| ROE | 43.19% |
| ROCE | 22.97% |
| Debt/Equity | 1.88 |
| EPS (Rs) | 30.06 |
| RoNW | 23.44% |
Check Rajgor Castor Derivatives IPO Peer Comparison here.
Objects of the Issue (Rajgor Castor Derivatives IPO Objectives)
The Offer Proceeds from the Fresh Issue will be utilized towards the following objects:
- To Meet Working Capital Requirements.
- General Corporate Purpose.
- To meet Public Offer Expenses
Rajgor Castor Derivatives IPO Review (May apply)
[Dilip Davda] RCDL is in the business of castor oil related derivatives that has huge and growing demand. The company scaled up its operations post the pandemic and is poised for bright prospects ahead. Based on FY24 annualized earnings, the issue appears fully priced. Well-informed investors may park funds for long-term rewards. Read detail review…
Rajgor Castor Derivatives Limited Contact Details
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/
Rajgor Castor Derivatives 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