Organic Recycling Systems IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Sep 22, 2023Let’s have a detailed review of the company and analytics of the Organic Recycling Systems IPO release date, IPO offer price, subscription, Organic Recycling Systems Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 200 |
| Listing At | BSE, SME |
| Min. Order Quantity | 600 Shares |
| Listing Date | October 5, 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 5,000 Lakh |
| IPO Size | Rs 5,000 Lakh |
| Tick Size | 1 |
Organic Recycling Systems IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Organic Recycling Systems Share Price |
Organic Recycling Systems IPO – Summary
Their company was incorporated on 29th August 2008 as a private limited company under the provisions of the erstwhile Companies Act, 1956 with the Registrar of Companies, Mumbai, Maharashtra in the name and style of Organic Recycling Systems Private Limited, bearing Corporate Identification Number U40106MH2008PTC186309.
Subsequently, their Company was converted into a Public Limited Company pursuant to a special resolution passed by members in the Extraordinary General Meeting of the Company held on 26th September 2022.
The Promoter of this company is MR. SARANG BHAND. The lead manager of the issue is Arihant Capital Markets Limited, and the Registrar of this issue is Maashitla Securities Private Limited.
Organic Recycling Systems IPO Date
The opening and closing dates of the Organic Recycling Systems IPO are September 21, 2023 and September 26, 2023, respectively.
Organic Recycling Systems IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 21st Sep | 0.85x | 0.17x | 0.51x |
| 2nd Day – 22nd Sep | 1.55x | 0.38x | 0.97x |
| 3rd Day – 25th Sep | |||
| Shares Offered or Net Issue | 1,185,000 | 1,185,000 | 2,500,200 |
The shares subscribed by the public will be updated here.
Organic Recycling Systems IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Organic Recycling Systems Limited IPO Listing Date
Find the dates below on the basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | September 29, 2023 |
| Refunds Initiation | October 3, 2023 |
| Credit of Shares to Demat Account | October 4, 2023 |
| Share Listing Date | October 5, 2023 |
Organic Recycling Systems IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.200
Organic Recycling Systems IPO Equity Size
This Initial Public Issue of 2,500,200 Equity Shares of Rs.10 each for cash at a price of Rs.200 per equity share aggregating to Rs.5,000 Lakh.
Organic Recycling Systems IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 2,500,200 Equity Shares of Rs.10/ each.
Issue Size: 2,500,200 Equity Shares of Rs.10 each, aggregating to Rs.5,000 Lakh
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Organic Recycling Systems IPO – Live Performance
The listing date of this IPO is October 5, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Organic Recycling Systems Share Price |
Organic Recycling Systems IPO Grey Market Premium
The Organic Recycling Systems Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Organic Recycling Systems IPO – Company Overview
They are an engineering company focused on environmental solutions and provide waste management solutions across waste types and across the value chain. Their Company has been a forerunner in providing sustainable waste management solutions in India since 2008.
Incorporated by technocrats their focus primarily has been on developing robust, cost-effective & environment-friendly technologies that are simple to operate. They have proven technology and capability of successfully running one of India’s first Waste to Energy (WTE) plants developed on anaerobic bio methanation technology.
The anaerobic bio methanation technique has been recognized as a promising technology as per the National Master Plan issued by the Government of India, They have also set up an MSW processing and disposal plant in Solapur, Maharashtra to convert Municipal Solid Waste (MSW) into electricity and compost.
The plant has been operational since 2013 with the plant being recognized as one of the case studies for best practices for MSWM under the Swachh Bharat Mission and various other reports. With the data collected over the years, their company is now a front-runner for various EPC opportunities in the country and therefore providing solutions encompassing the entire value chain for waste management.
Organic Recycling Systems IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 11,931.10 | 10,669.35 | 10,272.69 |
| *Total Revenue | 2,534.10 | 1,756.67 | 1,578.18 |
| Total Expense | 2,068.43 | 2,291.32 | 2,027.40 |
| Profit After Tax | 365.38 | (535.03) | (449.37) |
Earnings per Equity Share (in Lakh)
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 7.83 | (12.93) | (10.86) |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 365.38 Lakh, Rs. (535.03) Lakh and Rs. (449.37) Lakh respectively.
Organic Recycling Systems IPO – Promoters
The Promoter of this company is:
- MR. SARANG BHAND
List of Related Parties (Key Managerial Personnel)
- Sarang Bhand, Managing Director
- Yashas Bhand, Chief Executive Officer, Whole-time Director
- Amit Karia, Independent Director
- Rakesh Mehra, Chairman & Independent Director
Organic Recycling Systems IPO – Promoters Holding
- Pre-Issue Share Holding – %
- Post-Issue Share Holding – %
Organic Recycling Systems IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 25,00,200 Equity Shares aggregating up to Rs.5,000.40 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 1,30,200 Equity Shares aggregating up to Rs.260.40 Lakh |
| Net Issue to the Public | Up to 23,70,000 Equity Shares aggregating up to Rs.4740.00 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 11,85,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 11,85,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 51,99,075 Equity Shares |
| Equity Shares outstanding after the Issue | 76,99,275 Equity Shares |
Organic Recycling Systems IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Reduction of the aggregate outstanding borrowings of their Company
- Towards general corporate purposes
Organic Recycling Systems IPO – Business Strategy
- Taking Leverage of existing operational projects, they continue to bid for new opportunities in the MSW sector
- Continue to bid for direct EPC opportunities through public tenders floated by PSUs mandated to set up MSW to CBG projects under SATAT Guidelines.
- Create technology licensing opportunities with private developers for setting up co-digestion projects based on agro feedstocks. 102
- Expand regional footprint by partnering with localised developers/ city gas distribution companies/ integrated waste management companies.
- Create backward and forward integration by collaborating, acquiring, and licensing technologies for feedstock management, gas purification and compression
- Create manufacturing facility to manufacture critical components, manage supply & servicing of proprietary equipment and localisation of licensed technology
- Creation of consulting vertical through acquisition, , so as to provide consulting services as owner’s engineers / Lender’s engineers and other engineering services
Organic Recycling Systems IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Service provider in the MSW management sector focusing on processing and disposal of MSW
- Patented technological capabilities for providing customized solutions to end customers
- Track record of project execution
- Experienced Promoters and Management Team with Strong Domain Expertise along with strong technical capabilities and data-driven approach enabling the company to capitalize on the huge growth potential in the MSW space.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 7.83 | 14.33 | 49.05 |
| 31-Mar-22 | (12.93) | (66.15) | – |
| Mar-21 | (10.86) | (33.44) | – |
Organic Recycling Systems IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Organic Recycling Systems Limited | 10 | [●] | 7.83 | 14.33 | 2,534.10 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Organic Recycling Systems IPO Lead Managers
| Lead Managers |
| Arihant Capital Markets Limited Merchant Banking Division SEBI Registration No.: INM 000011070 #1011, Solitaire Corporate Park, Hargovindji Road, Chakala, Andheri (E), Mumbai – 400 093 Tel: 022-42254800; Fax: 022-42254880 Email: mbd@arihantcapital.com Website: www.arihantcapital.com Contact Persons: Mr. Amol Kshirsagar / Mr. Satish Kumar P |
Organic Recycling Systems IPO Registrar to offer
| Registrar to the Offer |
| Maashitla Securities Private Limited SEBI Registration No.: INR000004370 451, Krishna Apra Business Square Netaji Subash Place, Pitampura New Delhi – 110 034 Tel: 011-45121795; Email: ipo@maashitla.com Website: www.maashitla.com Contact Person : Mr. Mukul Agrawal |
Organic Recycling Systems IPO – Other Details
- Statutory Auditor – M/s Jayesh Sanghrajka & Co LLP
- Legal Counsel to the Company – MV Kini Law Firm
- Bankers to the Company – Bank of Baroda, ICICI Bank Limited and Standard Chartered Bank
Organic Recycling Systems IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Organic Recycling Systems Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Organic Recycling Systems IPO Review FAQs
Check out various FAQs related to Organic Recycling Systems IPO:
What is the Issue Size of Organic Recycling Systems IPO?
The Company is making an initial public offer of 2,500,200 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Organic Recycling Systems IPO?
The price band for this particular IPO ranges between Rs 200. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Organic Recycling IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on September 21, 2023, while the closing date is set for September 26, 2023.
What is the Organic Recycling IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on September 29, 2023, refund initiation is on October 3, 2023, credit of shares is on October 4, 2023, and share listing date is on October 5, 2023.
What is the Organic Recycling IPO Listing Date?
Shares of this company shall be listed in the exchanges on October 5, 2023. The date, when the listing would be done, is stagnant on October 5, 2023.
Who is the Registrar of Organic Recycling IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Maashitla Securities Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Organic Recycling IPO?
Here are the promoters of this IPO – MR. SARANG BHAND. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Organic Recycling IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.
Is Organic Recycling IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Organic Recycling Systems Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 365.38, 2022 is (535.03), and 2021 is (449.37).
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