
Regaal Resources IPO
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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 |