The company Organic Recycling Limited is coming up with an IPO of INR 50 crores. The offer consists of a fresh issue of equity shares.The company intends to utilise the raised funds to repay the borrowings of the company.
Organic Recycling Systems Limited IPO – Important Details
| Organic Recycling IPO Date | September 21, 2023 to September 26, 2023 |
| Organic Recycling IPO Listing Date | October 6, 2023 |
| Organic Recycling IPO Price | INR 200per share |
| Organic Recycling IPO Lot Size | 600 Shares |
| Organic Recycling IPO Total Issue Size | INR 50 crores |
| Organic Recycling IPO Basis of Allotment | September 29, 2023 |
| Organic Recycling IPO Initiation of Refunds | October 3, 2023 |
| Organic Recycling IPO Credit of Shares to Demat | October 4, 2023 |
| Organic Recycling IPO Issue Type | Fixed Price Issue IPO |
| Organic Recycling IPO Listing At | BSE SME |
Organic Recycling Systems IPO – Company Profile
The company is an engineering company focused on environmental solutions and provides waste management solutions across waste types and across the value chain. The company has been a forerunner in providing sustainable waste management solutions in India since 2008.
The company has proven technology and capability of successfully running one of India’s first Waste to Energy (WTE) plant developed on anaerobic biomethanation technology.The company’s business verticals includes Build Own Operate Transfer (BOOT) model, Engineering Procurement and Commissioning (EPC) model and Supply of key equipment.
Organic Recycling Systems IPO Objective
- To repay the borrowings of the company:The company has availed loans in the ordinary course of business for the purposes including but not limited to meeting working capital requirements, financing capital expenditure, meeting vehicle loan requirements, etc. The company proposes to utilise an aggregate amount INR 37.50 crores from the net proceeds reduction of the aggregate outstanding of the company.
- General corporate purpose: The company plans to deploy the balance funds towards general corporate purpose which is not limited to meeting expenses incurred in ordinary course of business such as strategic initiatives including advancement of information technology, meeting future branch and business expansion,etc
Organic Recycling Systems Limited IPO Risks And Challenges
The company faces INR 56.12 crores in pending litigation that could harm its operations and finances. Regulatory notices regarding investments by associated companies have been received. Negative cash flow in 2023 poses a threat to the business.
- The company has pending litigation approximately amounting to INR 56.12 crores. Any adverse results against the cases will affect the operations and financials of the business.
- The directors, company and the subsidiary company has been receiving notices from the regulating authority in the matter of investments by West Coast Ventures (India) Private Limited (WCV) an associate company of Maitreya Services Limited and Maitreya Plotters and Structures Private Limited (companies that are barred by SEBI from raising money from the capital market).
- The company has a negative cash flow from operating activities for the year 2023.Any sustained instances of negative cash flow will affect the business and operations.
Organic Recycling Systems IPO Peer Comparison
The company believes there is no other listed company which is specifically comparable to it with respect to the business business model, size and financials.
Organic Recycling Systems IPO Financial Information
| Particular | As at 31 March 2021 | As at 31 March 2022 | As at 31 March 2023 |
| Revenue (₹ in lakhs) | 1,252.38 | 1,461.37 | 2,471.93 |
| Equity (₹ in lakhs) | 1,343.88 | 808.86 | 2,550.07 |
| Expenses (₹ in lakhs) | 2,027.4 | 2,291.32 | 2,068.43 |
| Profit and Loss After Tax (₹ in lakhs) | (449.22) | (534.65) | 465.68 |
| RoNW (%) | (33.44)% | (66.15)% | 14.33% |
| Diluted EPS only (₹) | (10.15) | (12.09) | 7.83 |
| NAV per Equity Share (₹) | 9,773.71 | 5,882.61 | 237.42 |
| Total Assets (in lakhs) | 10,272.69 | 10,669.35 | 11,931.10 |
| Total Liabilities (in lakhs) | 8,928.80 | 9,860.49 | 9,381.03 |
Organic Recycling Systems Limited IPO – Industry & Market Potential
When looking forward, global waste is expected to grow to 3.40 billion tonnes by 2050, more than double population growth over the same period. Overall, there is a positive correlation between waste generation and income level.
Swachh Bharat Mission (Urban) (SBM-U) had three major objectives: (a) achieving 100% Open Defecation Free (ODF) status, (b) ensuring 100% scientific Solid Waste Management (SWM), and (c) behavior change through ‘Jan Andolan’ , by 2nd October 2019, in all statutory towns. The outlay of the Mission was Rs. 62,009 crores.
Organic Recycling Systems Limited IPO – Type of Offer
The company Organic Recycling Limited is coming up with an IPO of INR 50 crores. The offer consists of a fresh issue of equity shares at a price band of INR 200 per share.
Organic Recycling Systems IPO Offer Size
Organic Recycling Limited intends to launch an IPO worth INR 50 crores, involving the issuance of new equity shares. The company’s primary purpose for the raised capital is to repay its existing borrowings.
Organic Recycling Systems IPO Allotment Structure
Investors are categorized into Retail Individual Investors (up to INR 2 lakhs) and Others (above INR 2 lakhs). Market Makers get 1,30,200 shares, 5.21% of the total issue.
Retail Individual Investors (RII): The application value does not exceed INR 2 lakhs. These individual investors apply for shares with a total value of less than Rs. 2 lakhs.
Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs
Market Maker Reservation: Total of 1,30,200 equity shares are reserved for market makers. This forms 5.21% of the total issue.
How to apply for Organic Recycling Systems IPO ?
To apply for the Organic Recycling IPO through Alice Blue, you would typically follow these steps:
1. Open a Demat and Trading Account: If you don’t have one already, you would need to open a Demat and trading account with Alice Blue.
2. Check for IPO Details: Once your account is active, you can check for the Organic Recycling IPO details in the IPO section of the Alice Blue platform.
3. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
4. Submit the Application: Confirm all your details and submit your application.
You can apply for the Organic Recycling IPO at Alice Blue in just a few clicks!
Check Allotment Status: Post the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How to Check Organic Recycling IPO Allotment Status on Alice Blue?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the Organic Recycling IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Organic Recycling IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended to contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Organic Recycling IPO:
Registrar’s Website: Visit the website of Bigshare Services Private Limited, the registrar of the Organic Recycling IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN and application number or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
BSE SME: You can also check the allotment status on the official websites of the Bombay Stock Exchange (NSE) SME Platform. You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.
Organic Recycling IPO Offer Registrar
The registrar for the Organic Recycling Limited’s IPO is Maashitla Securities Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
Maashitla Securities Private Limited
451, Krishna Apra Business Square
Netaji Subash Place, Pitampura
New Delhi – 110 034
Tel : 011-45121795;
Email : [email protected]
Website : www.maashitla.com
Organic Recycling Limited IPO FAQs
What is the allotment date of the Organic Recycling Limited IPO?
The allotment date is September 29, 2023.
What is the price band of the Organic Recycling Limited IPO?
The price per share is INR 200/-
What is the size of the Organic Recycling Limited IPO?
Organic Recycling Limited intends to launch an IPO worth INR 50 crores, involving the issuance of new equity shares. The company’s primary purpose for the raised capital is to repay its existing borrowings.
What is the listing date of the Organic Recycling Limited IPO?
The listing date is October 6, 2023.
