Regaal Resources IPO Price: ₹96 to ₹102 per share
IPO Dates: 12th August 2025 – 14th August 2025
Company Overview
Regaal Resources Limited, originally incorporated as Regal Resources Pvt. Ltd. in Kolkata on January 2, 2012, underwent a name change to Regaal Resources Pvt. Ltd. in October 2015. It was subsequently converted into a public limited company and renamed Regaal Resources Limited in March 2022. The company is engaged in the manufacturing of maize-based specialty products and operates from a Zero Liquid Discharge (ZLD) maize milling facility in Kishanganj, Bihar, spread over 54.03 acres.
With an installed crushing capacity of 750 tonnes per day (TPD) as of May 31, 2025, Regaal Resources is one of the largest manufacturers in India in this sector. It began operations in 2018 with a capacity of 180 TPD and has expanded steadily. The company plans to further increase its capacity to 1,650 TPD.
Product Portfolio
Regaal Resources manufactures a diverse range of maize-based products categorized into three key segments:
- Native and Modified Starch: Includes yellow dextrin, white dextrin, and oxidized starch used across industries such as food and beverage, paper, textiles, pharmaceuticals, adhesives, and cosmetics.
- Co-products: Comprising maize germ, maize gluten, enriched fiber, maize steep liquor, and maize fiber. These are primarily used in animal feed, maize oil extraction, ethanol production, and food fermentation processes.
- Value-Added Products: Includes food-grade starches such as maize flour, icing sugar, custard powder, and baking powder used in bakery, confectionery, and various industrial applications.
Manufacturing Capabilities
The company’s facility in Kishanganj includes large warehouses and four humidity-controlled silos with a storage capacity of 10,000 MT each, totaling 65,000 tonnes of maize storage. Its strategic location in Bihar—an important maize cultivation hub—offers a proximity advantage for both raw material sourcing and distribution to key markets in East and North India. The company sources maize directly from farmers, aggregators, and traders in Bihar and West Bengal, ensuring supply stability and quality control.
Market Presence
Regaal Resources serves both domestic and international markets, with key exports going to Nepal and Bangladesh—located just 24 km and 235 km respectively from its manufacturing plant. It caters to a wide range of industries such as food processing, paper, animal feed, and adhesives. The company’s customer base includes well-known names like Emami Paper Mills, Century Pulp & Paper, Eco Tech Papers, Maruti Papers, and Krishna Tissues.
Its business model addresses three primary customer segments:
- Manufacturers of end products,
- Manufacturers of intermediate products, and
- Distributors or wholesale traders.
Competitive Strengths
- Strategic Location: The manufacturing facility is situated close to both maize sources and major consumption markets, optimizing logistics and supply chain efficiency.
- Robust Procurement Strategy: Long-standing relationships with cultivators, aggregators, and regional traders enable smooth and cost-effective sourcing.
- Sustainability Focus: One of the few maize wet milling plants in India with Zero Liquid Discharge technology.
- Product and Market Diversification: A wide portfolio catering to multiple industries helps mitigate risk and tap into industry growth trends.
- Established Distribution Network: The company enjoys strong market penetration across India and neighboring export markets.
- Experienced Leadership: Guided by a seasoned management team with a demonstrated track record of operational and financial performance.
Bidding Starts In
Regaal Resources IPO Specifics:
| IPO Date | August 12, 2025 to August 14, 2025 |
| Face Value | ₹5 per share |
| Price Band | ₹96 to ₹102 per share |
| Lot Size | 144 Shares |
| Total Issue Size | 3,00,00,235 shares (aggregating up to ₹306.00 Cr) |
| Fresh Issue | 2,05,88,235 shares (aggregating up to ₹210.00 Cr) |
| Offer For Sale | 94,12,000 shares (aggregating up to ₹96.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 8,21,35,940 shares |
| Share Holding Post Issue | 10,27,24,175 shares |
Regaal Resources IPO Timetable (Important Dates)
| IPO Open Date | Tuesday, August 12 2025 |
| IPO Close Date | Thursday, August 14 2025 |
| Basis of Allotment | Monday, August 18 2025 |
| Initiation of Refunds | Tuesday, August 19 2025 |
| Credit of Shares to Demat | Tuesday, August 19 2025 |
| Listing Date | Wednesday, August 20 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 14, 2025 |
Regaal Resources IPO Lot Size
Bidders have the opportunity to bid for a minimum of 144 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 144 | ₹14,688 |
| Retail (Max) | 13 | 1872 | ₹1,90,944 |
| S-HNI (Min) | 14 | 2016 | ₹2,05,632 |
| S-HNI (Max) | 68 | 9792 | ₹9,98,784 |
| B-HNI (Min) | 69 | 9936 | ₹10,13,472 |
Regaal Resources IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Regaal Resources Limited IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Assets | 371.52 | 585.97 | 860.27 |
| Revenue | 488.67 | 601.08 | 917.58 |
| Profit After Tax | 16.76 | 22.14 | 47.67 |
| EBITDA | 40.67 | 56.37 | 112.79 |
| Net Worth | 104.41 | 126.61 | 235.41 |
| Reserves & Surplus | 102.92 | 125.12 | 202.44 |
| Total Borrowing | 188.93 | 357.21 | 507.05 |
Key Performance Indicator – Regaal Resources IPO
| KPI | Values |
|---|---|
| Market Cap | ₹1047.79Cr |
| EPS | ₹5.80 |
| P/E (x) | 17.58 |
| ROE | 20.25% |
| ROCE | 14.17% |
| PAT Margin | 5.19% |
| RoNW | 20.25% |
| Debt/Equity | 2.08 |
Objects of the Issue:
Regaal Resources Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
- Repayment and/or Pre-payment of Borrowings:
An amount of ₹159.00 crore will be used to repay or pre-pay, in full or in part, certain outstanding borrowings availed by the company. This will help reduce debt and improve the company’s financial position. - General Corporate Purposes:
The remaining funds will be allocated towards general corporate activities, which may include administrative expenses, business development initiatives, and other strategic requirements to support future growth.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
