The IPO is a book-built issue comprising a fresh equity issue of Rs 210 crore, aimed at funding business expansion, along with an offer for sale (OFS) of Rs 96 crore by the promoter group to partially divest their holdings.
Regaal Resources IPO GMP Today:
In the grey market — an unofficial platform where shares trade before their official listing — Regaal Resources’ IPO is commanding a premium of Rs 27–28, implying a gain of approximately 26.5% over the upper price band of Rs 102. This suggests strong investor interest and positive market sentiment ahead of the stock’s debut on the exchanges.
Regaal Resources IPO Subscription Status:
The Regaal Resources IPO has been subscribed 26.93 times overall, according to stock exchange data as of Day 3 of the subscription period, at 10:05 AM.
Retail Individual Investors (RIIs) have subscribed 22.63 times the 1.04 crore shares allocated to them, indicating comparatively moderate retail participation.In contrast, Non-Institutional Investors (NIIs) have bid for 68.41 times their quota of 44.99 lakh shares. Meanwhile, Qualified Institutional Buyers (QIBs) have subscribed 3.36 times the 59.99 lakh shares reserved for them.
Regaal Resources IPO: Price Band, Company Profile, and Key Highlights
Regaal Resources has announced a price band of Rs 96 to Rs 102 per share for its upcoming IPO, with a minimum application size of 144 shares. At the upper price point, the company’s estimated market capitalization would be approximately Rs 9,985 crore. The IPO is scheduled to be listed on both the NSE and BSE on August 20, 2025.
Regaal Resources – Company Overview
Regaal Resources is one of India’s fastest-growing producers of maize-based specialty products and currently holds the position of the second-largest player in eastern India. The company has a daily maize milling capacity of 750 tonnes.
Its manufacturing facility is located in Kishanganj, Bihar, spread across 54 acres, and operates with a zero liquid discharge (ZLD) system. With a storage capacity of 70,000 metric tonnes, the plant is strategically located near Gulabbagh — a major maize trading hub — allowing for direct procurement from farmers. This proximity helps the company lower raw material costs by 6–7%.
Regaal’s product lineup includes native and modified maize starches, maize gluten, enriched fibre, and a variety of value-added food products such as maize flour, icing sugar, custard powder, and baking powder.
The company caters to several industries, including food processing, animal feed, and paper — with the paper segment currently contributing the largest share of revenue.
Financial Performance
In FY25, Regaal generated 92.8% of its revenue from domestic sales, with the remainder coming from exports to Bangladesh, Malaysia, and Nepal. Between FY23 and FY25, the company reported a robust revenue CAGR of 37%. Net profit increased from Rs 16.8 crore to Rs 47.7 crore, while EBITDA margins improved from 8.3% to 12.3%.
IPO Objectives
The IPO proceeds will primarily be used to repay or prepay Rs 159 crore of outstanding debt. Remaining funds will be allocated to general corporate purposes. Following the IPO, promoter shareholding is expected to decrease from 99.56% to 70.44%.
Should You Subscribe?
Brokerages have shown optimism about the Regaal Resources IPO. Arihant Capital has issued a “Subscribe for long-term” rating, highlighting the company’s strategic location in a major maize-producing region, its efficient multi-source procurement system, and a well-diversified product mix catering to multiple industries.
Reliance Securities has also recommended subscribing to the IPO, citing Regaal’s strong market position, cost efficiencies supported by government incentives, and its planned capacity expansion to 1,650 tonnes per day (TPD). The brokerage also noted the company’s entry into high-margin segments like starch derivatives and white-label products as a key growth driver.
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