Rajgor Castor Derivatives IPO Date, GMP, Price, Analysis and Review
Rajgor Castor Derivatives Ltd, owned by the Rajgor family, is a well-established manufacturer and supplier specializing in castor oil and its derivatives. The company boasts a robust production capacity of 450 Metric Tonnes per day for castor products. Founded in 2018, it transitioned into a public limited company in 2022, quickly emerging as a prominent player in the manufacturing, export, and supply of castor oil and its derivatives.
The company operates across three primary product lines:
- Castor Meal: Also known as castor residue, castor extract, and de-oiled castor cake, this product is derived from castor seeds. The process involves extracting oil and producing a castor de-oiled cake, which is rich in protein and essential nutrients. Nitrogen content aids in chlorophyll formation crucial for photosynthesis, phosphorus promotes root development, and potassium enhances plant resistance to diseases.
- High Protein Castor Meal (HPCM): HPCM is a valuable by-product obtained during the castor oil extraction process from castor seeds. It serves as a high-quality livestock feed supplement, providing a source of protein, essential amino acids, and vital nutrients for the growth and development of livestock and poultry.
- Refined Castor Oil: Produced by crushing steam-cooked castor seeds, refined castor oil is insoluble in water. This product is a fundamental component, serving as a lubricant in tablet coatings for vitamins and minerals. It also acts as a raw material for manufacturing value-added castor oil derivatives.
Rajgor Castor Derivatives Ltd has firmly established itself as a reliable player in the castor oil and derivatives industry, driven by its commitment to quality and diverse product offerings.
Rajgor Castor Derivatives
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Bidding Ends
Allotment Date*
Listing Date
* Refund is a 7-10 days process. If you don’t get refund then please contact your bank.
Allotment Status Check
Objects of the Issue (Rajgor Castor Derivatives IPO Objectives)
The funds generated from the Fresh Issue will be allocated for the following purposes:
- Meeting Working Capital Needs
- General Corporate Purposes
- Covering Public Offering Expenses
Rajgor Castor Derivatives IPO Details
The Rajgor Castor Derivatives IPO is a book-built issue with a total value of Rs 47.81 crores. This issue comprises a fresh issue of 88.95 lakh shares, amounting to Rs 44.48 crores, and an offer for sale of 6.66 lakh shares, totaling Rs 3.33 crores.
| IPO Date | October 17, 2023 to October 20, 2023 |
| Listing Date | October 31, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹47 to ₹50 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 9,561,000 shares (aggregating up to ₹47.81 Cr) |
| Fresh Issue | 8,895,000 shares (aggregating up to ₹44.48 Cr) |
| Offer for Sale | 666,000 shares of ₹10 (aggregating up to ₹3.33 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 15,020,852 |
| Share holding post issue | 23,915,852 |
| Market Maker portion | 501,000 shares |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Rajgor Castor Derivatives IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Rajgor Castor Derivatives IPO Lot Size
Investors can bid for a minimum of 3000 shares, in increments of 3000 shares. See the table below for the minimum and maximum investment limits for both retail investors and HNIs in shares and amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹150,000 |
| Retail (Max) | 1 | 3000 | ₹150,000 |
| HNI (Min) | 2 | 6,000 | ₹300,000 |
Rajgor Castor Derivatives IPO Dates
Rajgor Castor Derivatives IPO opens on October 17, 2023, and closes on October 20, 2023.
| IPO Open Date | Tuesday, October 17, 2023 |
| IPO Close Date | Friday, October 20, 2023 |
| Basis of Allotment | Thursday, October 26, 2023 |
| Initiation of Refunds | Friday, October 27, 2023 |
| Credit of Shares to Demat | Monday, October 30, 2023 |
| Listing Date | Tuesday, October 31, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 20, 2023 |
Rajgor Castor Derivatives Limited Financial Report
Rajgor Castor Derivatives Limited witnessed a significant decline in revenue, with a decrease of -73.71%, and a corresponding decrease in profit after tax (PAT) by -65.27% between the financial years ending on June 30, 2023, and March 31, 2023.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|---|
| Assets | 9,847.95 | 7,782.64 | 3,753.42 | 2,578.48 | 2,645.34 |
| Revenue | 11,276.10 | 42,887.35 | 4,091.30 | 1,100.69 | 1,497.33 |
| Profit After Tax | 192.57 | 554.47 | 52.19 | -180.18 | -97.02 |
| Net Worth | 2,558.24 | 2,365.55 | 201.90 | 149.71 | – |
| Reserves and Surplus | 2,343.54 | 2,150.97 | 190.12 | 137.93 | 318.12 |
| Total Borrowing | 5,178.96 | 4,450.93 | 1,809.51 | 2,286.28 | – |
Key Performance Indicator of Rajgor Castor Derivatives
| KPI | Values |
|---|---|
| ROE | 43.19% |
| ROCE | 22.97% |
| Debt/Equity | 1.88 |
| EPS (Rs) | 30.06 |
| RoNW | 23.44% |
Rajgor Castor Derivatives IPO Anchor Investors Details
Rajgor Castor Derivatives IPO secured Rs 13.56 crore in investments from anchor investors on October 16, 2023.
| Bid Date | October 16, 2023 |
| Shares Offered | 2,712,000 |
| Anchor Portion Size (In Cr.) | 13.56 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 11, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 5, 2024 |
Rajgor Castor Derivatives IPO Promoter Holding
Mr. Brijeshkumar Vasantlal Rajgor, Mr. Vasantkumar Shankarlal Rajgor and Mr. Maheshkumar Shankarlal Rajgor are the company’s promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | – |
Rajgor Castor Derivatives IPO Contact Details
Rajgor Castor Derivatives Limited
807, Titanium One, Nr. Pakwan Cross Road,
Nr. Shabri Water Works, S.G. Highway
Bodakdev, Ahmedabad-380054
Phone: +91 9898926368
Email: cs@rajgorcastor.com
Website: https://www.rajgorcastor.com/
Rajgor Castor Derivatives IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: rajgorcastorderivatives.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Rajgor Castor Derivatives IPO FAQs
What is Rajgor Castor Derivatives IPO?
Rajgor Castor Derivatives IPO is a Small and Medium Enterprises (SME) IPO comprising 9,561,000 equity shares with a face value of ₹10, aggregating up to ₹47.81 Crores. The share price for the IPO ranges from ₹47 to ₹50 per share. The minimum order quantity is 3,000 Shares. The IPO subscription window is open from October 17, 2023, to October 20, 2023. Link Intime India Private Ltd is the registrar for the IPO. The shares are intended to be listed on the NSE SME platform.
How can I apply for Rajgor Castor Derivatives IPO through Zerodha?
Zerodha clients can apply for the Rajgor Castor Derivatives IPO online using the UPI payment gateway. To apply through Zerodha, log in to the Zerodha Console (back office) and complete the IPO application form.
Here are the steps to apply for Rajgor Castor Derivatives IPO via Zerodha:
1. Visit the Zerodha website and sign in to Console.
2. Navigate to the Portfolio section and click on the IPOs link.
3. Find the ‘Rajgor Castor Derivatives IPO’ row and click on the ‘Bid’ button.
4. Enter your UPI ID, the desired Quantity, and Price.
5. Click ‘Submit’ to complete the IPO application form.
6. Visit the UPI App (net banking or BHIM) to approve the mandate.
When does Rajgor Castor Derivatives IPO open?
The Rajgor Castor Derivatives IPO is scheduled to open on October 17, 2023, and will close on October 20, 2023.
What is the lot size for Rajgor Castor Derivatives IPO?
The lot size for Rajgor Castor Derivatives IPO is 3,000 Shares, and the minimum amount required to apply is ₹150,000.
How can I apply for Rajgor Castor Derivatives IPO?
You can apply for Rajgor Castor Derivatives IPO online using either UPI or ASBA as your payment method. ASBA IPO application is available through the net banking service of your bank account, while UPI IPO application is provided by brokers who do not offer banking services. For more details on applying for IPOs online, you can read further information about the process through platforms like Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank, and SBI Bank.
When will Rajgor Castor Derivatives IPO allotment be finalized?
The Basis of Allotment for Rajgor Castor Derivatives IPO is set to be determined on Thursday, October 26, 2023. The allotted shares will be credited to your demat account by Monday, October 30, 2023. You can check the Rajgor Castor Derivatives IPO allotment status on that date.
What is the expected listing date for Rajgor Castor Derivatives IPO?
The listing date for Rajgor Castor Derivatives IPO has not yet been officially announced. However, the tentative date for the IPO listing is Tuesday, October 31, 2023.
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