Regaal Resources IPO

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12th – 14th Aug 2025
20 Aug 2025
₹96 – ₹102
Lot size 144 — ₹14688
306cr

Schedule of Regaal Resources

Issue open date 12 Aug 2025
Issue close date 14 Aug 2025
UPI mandate deadline 14 Aug 2025 (5 PM)
Allotment finalization 18 Aug 2025
Refund initiation 19 Aug 2025
Share credit 19 Aug 2025
Listing date 20 Aug 2025
Mandate end date 29 Aug 2025
Lock-in end date for anchor investors (50%) 17 Sep 2025
Lock-in end date for anchor investors (remaining) 16 Nov 2025

Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.

About Regaal Resources

Established in 2018, Regaal Resources is one of India’s largest manufacturers of maize-based specialty products with a crushing capacity of 750 tonnes per day (TPD). The company operates a strategically located 54-acre zero liquid discharge manufacturing facility in Kishanganj, Bihar – India’s major maize cultivation hub. Regaal Resources produces native and modified maize starch, co-products (gluten, germ, fiber), and value-added food products including maize flour, icing sugar, and baking powder. The company serves diverse industries including food products, paper, animal feed, and adhesives across domestic and international markets, with key export destinations being Nepal (24 km away) and Bangladesh (235 km away).


Financials of Regaal Resources


Issue size

Funds Raised in the IPO Amount
Overall ₹306 crores
Fresh Issue ₹210 crores
Offer for sale ₹96 crores

Utilisation of proceeds

Purpose INR crores (%)
Repayment and/ or pre-payment, in full or in part, of the certain outstanding borrowings 159 (75.7%)
General corporate purposes   

Strengths

  • Strategically located manufacturing facility near raw materials and key markets.
  • Efficient procurement through multiple sourcing avenues.
  • High-utilization, sustainability-focused manufacturing operations.
  • Diverse product portfolio aligned with industry growth trends.
  • Widespread and established sales and distribution network.
  • Strong track record of financial growth and performance.

Risks

  • Significant reliance on the top 10 customers, with potential impact from their reduced purchases or loss.
  • Over 83% of maize is sourced from the top 10 vendors, without long-term contracts, increasing supply risk.
  • Maize, the primary raw material, is seasonal, affecting availability and pricing.
  • Indebtedness poses financial risks and limits operational flexibility due to restrictive covenants.
  • Customer relationships are strong but contractually unsecured, making revenue vulnerable to demand shifts.

Subscription Figures for Regaal Resources

As per media reports (Link), the Grey Market Premium (GMP) of Regaal Resources is reported at ₹22 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.

Subscription numbers as of 5:00 PM on August 14, 2025:

Category Reserved (lakhs) Applied (lakhs) Subscription (X times)
Institutional 60.00 11457.89 190.96x
NII  45.00 16050.40 356.67x
Retail  105.00 6055.78 57.67x
Total 210.00 33564.08 159.83x