Here’s a comprehensive breakdown of the Regaal Resources Limited IPO, covering all essential details.
Regaal Resources Ltd, incorporated in 2012, is one of the leading manufacturers of maize-based specialty products in India, with a crushing capacity of 750 tonnes per day.
Its products include starch (native & modified), gluten, germ, fiber, maize flour, icing sugar, custard powder, and baking powder.
The Kisihanganj facility in Bihar operates on a zero liquid discharge (ZLD) model across 54.03 acres. They serve both domestic and key export markets (Nepal & Bangladesh).
IPO Dates
| Event | Date |
|---|---|
| Opening Date | August 12, 2025 |
| Closing Date | August 14, 2025 |
| Basis of Allotment Finalization | August 18, 2025 |
| Refunds Initiated & Shares Credited | August 19, 2025 |
| Listing Date (BSE & NSE) | August 20, 2025 |
IPO Details
- IPO Size: ₹306 crore (Book-building)
- Pricing: ₹96–102/share (₹5 face value)
- Stock Exchanges: BSE & NSE
- Lot Size: 144 shares
- Timeline: Subscribe Aug 12–14; Allotment by Aug 18; Listing on Aug 20
- Use of Funds: Mainly debt repayment and general purposes
- Financial Health: Rapid revenue and profit growth, solid asset build-up, moderate leverage
- Issue Type: Bookbuilding IPO
- Share Holding Pre Issue: 8,21,35,940 shares
- Share Holding Post Issue: 10,27,24,175 shares
GMP of Regaal Resources Limited IPO
Here’s the Grey Market Premium (GMP) update for the Regaal Resources Limited IPO:
According to IPO Watch, the GMP for Regaal Resources IPO has fluctuated between ₹19 and ₹24 as of today:
- High: ₹24 (on 11th August)
- Low: ₹19 (on 8th August)
Summary Table
| Parameter | Value |
|---|---|
| GMP Range | ₹19 – ₹24 |
| Upper GMP (as of 11 Aug) | ₹24 |
| Estimated Listing Price | ₹126 |
| Estimated Gain | ~24% |
Promoters of Regaal Resources Limited
Here are the promoters of Regaal Resources Limited, including their roles and backgrounds:
| Promoter Name | Role | Background & Experience |
|---|---|---|
| Anil Kishorepuria | Chairperson & Managing Director | Holds a Bachelor’s in Commerce from the University of Calcutta. Has been associated with the company since 2015 and brings around a decade of experience in the manufacturing sector. |
| Karan Kishorepuria | Whole-time Director | Holds a Bachelor’s in Business Administration from Northeastern University, Boston. Prior roles include positions at Goldman Sachs, impact investing fund NUImpact, and venture accelerator IDEA. Joined the company in September 2021 with approximately 4 years of finance and operational experience. |
| Shruti Kishorepuria | Promoter | Listed as one of the promoters and selling shareholders in the IPO. Further biographical details are not specified in the public domain. |
| BFL Private Limited | Promoter Entity | Identified as a promoter entity and a selling shareholder in the IPO, though detailed background information is not publicly disclosed. |
Summary
- The core promoter leadership is held by Anil and Karan Kishorepuria, both actively involved in the company’s strategic and operational execution.
- Additional promoters include Shruti Kishorepuria and BFL Private Limited, both participating in the IPO’s Offer for Sale (OFS) tranche.
Regaal Resources Limited IPO Lot Size
Here’s the lot size information for the Regaal Resources Limited IPO, laid out in a clear table:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 144 | ₹14,688 |
| Retail (Max) | 13 | 1,872 | ₹1,90,944 |
| S-HNI (Min) | 14 | 2,016 | ₹2,05,632 |
| S-HNI (Max) | 68 | 9,792 | ₹9,98,784 |
| B-HNI (Min) | 69 | 9,936 | ₹10,13,472 |
- Retail investors can apply in multiples of 144 shares per lot.
Regaal Resources Limited IPO Promoter Holding
Here’s the detailed breakdown of promoter holding for Regaal Resources Limited IPO:
| Metric | Value |
|---|---|
| Pre-Issue Promoter Holding | 99.56% |
| Post-Issue Estimated Holding | ~70.44% |
- The promoters before the IPO hold a commanding 99.56% of the equity.
- After the IPO, their ownership is expected to dilute to around 70.44%, accounting for the fresh issue and the Offer for Sale components.
About Regaal Resources Limited
Founded in 2016, production commenced in 2018. The company is headquartered in Kolkata and operates a cutting-edge manufacturing facility in Kishanganj, Bihar, covering approximately 50–54 acres.
Regaal specializes in maize-based agro-processing, producing a wide array of products:
- Native & modified maize starch
- Co-products: gluten, germ, enriched fiber
Manufacturing & Facilities
- The facility features a zero-liquid discharge (ZLD) system, captive power, and recycling technologies like RO and ETP.
- Storage includes 4 silos (40,000 MT), a 250,000 sq ft warehouse, and automated packing & labeling units with food-grade amenities.
- Production capacity has soared from 180 MTPD (2018) to 750 MTPD by FY25, making it the second-largest player in Eastern India in corn wet milling.
Market & Operations
- Serves diverse industries including food processing, paper, textile, animal feed, adhesives, and pharmaceuticals.
- Operates across domestic and export markets, supplying countries like Nepal and Bangladesh.
- Maintains a strong edge via efficient raw material sourcing networks, robust distribution, and a diversified product basket.
Snapshot Table
| Category | Details |
|---|---|
| Founded / HQ | 2016; Production since 2018; Kolkata-based HQ |
| Manufacturing Unit | Kishanganj, Bihar – 50–54 acres, ZLD plant, captive power, silos, storage & packing units |
| Capacity Growth | 180 MTPD (2018) → 750 MTPD (2024–25); Expansion to 1,650 MTPD planned |
| Product Range | Maize starch, modified starches, gluten, germ, fiber, maize flour, baking powder, more |
| Industries Served | Food, paper, feed, adhesives, pharma, and textiles |
| Markets | Pan-India distribution; exports to Nepal & Bangladesh |
Regaal Resources Limited Financial Information
Here’s a comprehensive financial breakdown of Regaal Resources Limited as presented in its IPO disclosure documents and prominent financial summaries:
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹860.27 | ₹585.97 | ₹371.52 |
| Total Income | ₹917.58 | ₹601.08 | ₹488.67 |
| Profit After Tax | ₹47.67 | ₹22.14 | ₹16.76 |
| EBITDA | ₹112.79 | ₹56.37 | ₹40.67 |
| Net Worth | ₹235.41 | ₹126.61 | ₹104.41 |
| Reserves and Surplus | ₹202.44 | ₹125.12 | ₹102.92 |
| Total Borrowing | ₹507.05 | ₹357.21 | ₹188.93 |
Key Financial Trends
- Strong Top-line Growth: Revenue surged by ~52.5% from ₹600 cr to ₹915–918 cr in FY2025.
- Profitability: PAT more than doubled—up 115%—from ₹22 cr to ₹47.7 cr.
- Operational Efficiency: EBITDA rose by almost 100%, from ₹56 cr to ₹112.8 cr in FY2025.
- Capital Base Strengthened: Net worth climbed from ₹126.6 cr to ₹235.4 cr.
- Rising Borrowings: Borrowings grew to ₹507 cr in FY2025, indicating increased debt dependence.
Key Performance Indicator (KPI)
Here are the Key Performance Indicators (KPIs) for Regaal Resources Limited based on the latest IPO disclosures and financial performance data:
| KPI | Values |
|---|---|
| ROE | 20.25% |
| ROCE | 14.17% |
| Debt/Equity | 2.08 |
| RoNW | 20.25% |
| PAT Margin | 5.19% |
| EBITDA Margin | 12.32% |
| Price to Book Value | 6.18 |
Strengths of Regaal Resources Limited IPO
Prime Manufacturing Location
Regaal’s plant is situated in Kishanganj, Bihar—a major maize cultivation hub—ensuring consistent access to raw materials and close proximity to key consumption markets.
Efficient & Sustainable Operations
The facility boasts high capacity utilization, operates on a zero-liquid discharge (ZLD) model, and includes a captive cogeneration power plant, reducing both environmental impact and energy costs.
Diverse Product Portfolio Across Industries
The company offers a broad range of maize-based products—from starches to value-added items—serving sectors like food processing, paper, feed, adhesives, and exports to Nepal and Bangladesh.
Strong Financial Trajectory
FY24–25 saw exceptional performance: Revenue growth of ~53%, PAT more than doubled (~116%), and robust return on equity (ROE of 20.25%).
Experienced Promoters & Distribution Network
Backed by seasoned leadership and an established sales and distribution setup, Regaal demonstrates both operational depth and strategic market positioning.
Risks of Regaal Resources Limited IPO
Customer Concentration Risk
A significant portion of revenue comes from key customers, making Regaal vulnerable to demand shifts or loss of these clients.
Supply Chain Vulnerability
Over 83% of maize sourcing is concentrated among top vendors, with no long-term contracts—heightening risks of supply disruption or price volatility.
Commodity Pricing Pressure
Core products like native starch are commodities with tight margins and are sensitive to fluctuations in raw material costs.
Capital-Intensive Expansion Plans
Ongoing capex for new lines (liquid glucose, maltodextrin, capacity expansion) introduces execution and stabilization risk, though leverage is expected to remain manageable.
Geographic and Regulatory Exposure
Operations are concentrated in Eastern and Northern India, with reliance on exports to nearby markets (e.g., Nepal, Bangladesh), exposing the company to currency and geopolitical risks.
Summary Table
| Strengths | Risks |
|---|---|
| Strategic location with raw material advantage | High debt levels may impact financial flexibility |
| High utilization, sustainable operations, energy-efficiency | Customer & supplier concentration could expose revenue volatility |
| Broad product range serving multiple industries | Commodity-based products may face margin pressure |
| Robust financial growth and strong ROE | Capex execution risk with complex expansion plans |
| Experienced management and distribution network | Geographic concentration and export dependencies pose external risk |
Regaal Resources Limited Contact Details
Here are the official contact details for Regaal Resources Limited, including both corporate office and IPO-related registrar information:
Corporate Office Contact
- Address: 6th Floor, D2/2, Block EP & GP, Sector-V, Kolkata 700091, West Bengal
- Phone: 033-3522 2422 (general inquiries); 033-3522 2405 (company secretary)
- Emails:
- General:
info@regaal.in - Sales:
sales@regaal.in - Recruitment:
hr@regaal.in - Company Secretary:
cs@regaal.in
- General:
IPO Registrar – MUFG Intime India Pvt. Ltd. (formerly Link Intime)
- Address: C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400083, Maharashtra
- Phone: +91-810 811 4949
- Email:
regaalresources.ipo@linkintime.co.in
Summary Table
| Contact Type | Details |
|---|---|
| Corporate Office Address | 6th Floor, D2/2, Block EP & GP, Sector-V, Kolkata 700091 |
| Phone (General) | 033-3522 2422 |
| Phone (Company Secretary) | 033-3522 2405 |
| Email (General) | info@regaal.in |
| Email (Sales) | sales@regaal.in |
| Email (Recruitment) | hr@regaal.in |
| Email (Company Secretary) | cs@regaal.in |
| Registrar Name & Address | MUFG Intime India Pvt. Ltd., C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400083 |
| Registrar Phone | +91-810 811 4949 |
| Registrar Email | regaalresources.ipo@linkintime.co.in |
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