Regaal Resources Set to Launch IPO Amidst Financial Growth

Kolkata's Regaal Resources Ltd is planning an IPO, as per its DRHP filed with SEBI. Targeting Rs 190 crore, with Rs 147 crore going towards debt reduction and general purposes, the company specializes in maize-based and specialty starches. It reported a 22.97% revenue increase in FY24.

Regaal Resources Ltd, a Kolkata-based agro company, has announced plans to initiate an initial public offering (IPO), as detailed in its draft red herring prospectus (DRHP) submitted to the Securities and Exchange Board of India (SEBI).

The IPO includes a new share issuance aimed at generating up to Rs 190 crore, alongside an offer-for-sale involving nine million equity shares from the company's promoter. Of the fresh proceeds, Rs 147 crore are allocated toward repaying and pre-paying borrowings and other general corporate needs.

Known for its production of maize-based starch products, Regaal Resources boasts a significant processing capacity. The company recently saw a 22.97% increase in revenue for fiscal year 2024, attributing this growth to enhanced sales figures. With Pantomath Capital Advisors and Sumedha Fiscal Services managing the book, the shares will be listed on both the NSE and BSE markets.

(With inputs from agencies.)