IPO opened on 17th October, 2023 for NSE Emerge listing

New Delhi (India), October 18: Rajgor Castor Derivatives Limited is coming out with its maiden Initial Public Offer (IPO) of 9561000 equity shares of Rs. 10/- each with a price band of Rs. 47/- – Rs. 50/- per share to mobilize Rs. 47.81 cr. at the upper price band. The issue consists of 8895000 fresh equity shares issue and 666000 shares by an Offer for Sale. The issue opens for subscription on 17^th October 2023, and will close on 20^th October 2023. It has a minimum market lot of 3000 equity shares for application as well as for trading. Post allotment, shares will be listed on NSE SME Emerge platform.

The Lead Manager to the offer is Beeline Capital Advisors Private Limited while Link Intime India Pvt. Ltd. is the registrar of the issue. From the net proceeds of the fresh equity issue, the company will use Rs. 29.92 cr. as working capital and the balance for the general corporate purposes and public issue expenses.

Castor oil is a yellow viscous liquid free from suspended matter and insoluble in water. It is produced by refining commercial grade Castor Oil after undertaking bleaching and filtering process. Castor oil has multiple industrial applications and is extensively demanded in Lubricants, Paints, Pharmaceuticals, Cable insulators, Sealants, Inks, Rubber and Textiles etc. It is also used to relief Constipation, Eyelashes grow, Hair grow, Skin moisturizer and to improve immunity function. It is also used for applying on food grains to protect from the insects/fungus. Castor De-Oil Cake is fertilizer consisting of high content of Nitrogen, Phosphoric Acid, Potash and moisture retention and it is also an organic fertilizer which can be used as alternatives to chemical fertilizer. It is simple manure, which acts progressively that encourages soil microbial activity. High Protein Castor De Oiled Cake is an organic manure which enhances the fertility of the soil without causing any damage or decay.

 About the company:

Rajgor Castor Derivatives Limited is engaged in the business of manufacturing of Refined Castor Oil First Special Grade (F.S.G.), Castor De-Oiled Cake and High Protein Castor De-Oiled Cake for the domestic market. The Company is currently operating on a B2B business Model and offer its customers Castor Oil, Castor D.O.C. and Castor High Protein. As they are currently operating under a B2B business Model, their focus is on operations relating to quality control, inventory management and business development.

For the last three financial years, Rajgor has posted a turnover/net profit/-(loss) of Rs. 14.97 cr. / Rs. – (0.97) cr. (FY20), Rs. 11.01 cr. / Rs. – (1.80) cr. (FY21), Rs. 40.91 cr. / Rs. 0.52 cr. (FY22), and Rs. 428.87 cr. / Rs. 5.55 cr. (FY23). For Q1 of FY24 ended on June 30, 2023, it earned a net profit of Rs. 1.93 cr. on a turnover of Rs. 112.76 cr. 

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.