Regaal Resources IPO opens August 12 with a price band of ₹96–₹102 per share. The Kolkata-based maize starch leader aims to raise ₹210 crore through fresh issue and OFS.
| From left Shruti Kishorepuria (CPO), Kiran Kishorepuria (Wholetime Director), Anil Kishorepuria (Chairman & MD), Saikat Chatterjee (CFO) of Regaal Resources Limited and Zira Saikat of Sumedha Fiscal Services at press conference in The Lalit, Kolkata on Monday. Image: MUDRAYOGI |
Kolkata : Regaal Resources Limited, one of India’s largest maize-based specialty product manufacturers, has announced a price band of ₹96 to ₹102 per equity share (face value ₹5 each) for its maiden initial public offering (IPO). The public issue will open for subscription on Tuesday, August 12, 2025, and close on Thursday, August 14, 2025. Investors can bid for a minimum of 144 equity shares and in multiples thereafter.
The IPO comprises a fresh issue worth up to ₹210 crore and an offer for sale (OFS) of up to 94,12,000 equity shares by promoters and promoter group shareholders. Of the fresh issue proceeds, ₹159 crore will be used to repay or prepay certain borrowings, in full or part.
Headquartered in Kolkata, Regaal Resources operates with an installed crushing capacity of 750 tonnes per day, as per F\&S reports. The company produces native and modified maize starch, co-products such as gluten, germ, and enriched fiber, as well as value-added food-grade starches including maize flour, icing sugar, custard powder, and baking powder.
Its clientele spans multiple industries—food products, paper, animal feed, and adhesives—servicing manufacturers of both end and intermediate products, as well as wholesale distributors. The company’s zero-liquid-discharge maize milling facility is based in Kishanganj, Bihar, with key export markets in Nepal and Bangladesh.
Prominent customers include Emami Paper Mills Limited, Century Pulp & Paper, Kush Proteins Private Limited, Mayank Cattle Food Limited, and Krishna Tissues Private Limited, among others.
Financially, Regaal Resources posted a robust performance in FY25, with revenue from operations surging 52.52% to ₹915.16 crore from ₹600.02 crore in FY24. Profit after tax doubled, rising 115.28% from ₹22.14 crore to ₹47.67 crore over the same period, driven primarily by higher sales of both manufactured and traded goods.
Pantomath Capital Advisors Private Limited and Sumedha Fiscal Services Limited are the book-running lead managers, while MUFG Intime India Private Limited is the registrar to the issue. The IPO is being offered through the book-building process, with up to 50% reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors, and a minimum of 35% for retail investors.
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