Rajgor Castor Derivatives Limited was incorporated in 2018 and is engaged in the manufacturing of castor oil-based products. The company manufactures Refined Castor Oil First Stage Grade (F.S.G.), Castor De-Oiled Cake and High Protein Castor De-Oiled Cake at its manufacturing facility located in Harij, Gujarat.
It operates on a B2B business Model and offers its customers Castor Oil and its derivatives. The company is focused on quality control, inventory management and business development operations.
The company’s business lies in agriculture, which accounts for 18.3% of India's GDP. The growth driver of the industry revolves around rapid population expansion in India as well as changing lifestyles and food habits of people due to increased disposable income. In addition, the initiatives taken by the government, such as increasing the number of primary agriculture cooperatives from 60,000 to 3 lakh until 2026, are likely to aid the business growth of the company.
Rajgor Castor Derivatives Limited IPO Details
Rajgor Castor Derivatives Limited IPO Date
Rajgor Castor Derivatives Limited IPO combines a fresh issue and an Offer for Sale. The fresh issue comprises 88,95,000 shares aggregating up to ₹44.48 crore, and the offer for sale comprises 6,66,000 shares of ₹10 aggregating up to ₹3.33 crore. Rajgor Castor Derivatives Limited’s IPO will be listed on the NSE SME on October 31, 2023. It is a book-built issue IPO.
Rajgor Castor Derivatives Limited IPO Price Band
The price range of the IPO has been fixed at ₹47 to ₹50 per share.
Rajgor Castor Derivatives Limited IPO Lot Size
The Rajgor Castor Derivatives Limited IPO lot size is 3,000 shares, and the minimum investment will be ₹1,50,000.
Rajgor Castor Derivatives Limited IPO Objectives
The objectives of Rajgor Castor Derivatives Limited IPO are listed below:
- Funding its working capital requirements.
- For general corporate purposes.
Peer Details
As per DRHP, Rajgor Castor Derivatives Limited has 2 listed peers listed below:
- NK Industries Limited.
- Jayant Agro-Organics Limited.
How To Check the Allotment Status of the Rajgor Castor Derivatives Limited IPO?
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Contact Details of Rajgor Castor Derivatives Limited
Registered office: 807, Titanium One, Nr. Pakwan Cross Road, Nr. Shabri Water Works, S.G. Highway, Bodakdev, Ahmedabad-380054, Gujarat, India
Phone: +91 9898926368
E-mail:cs@rajgorcastor.com
Rajgor Castor Derivatives Company Financials
| Particulars | Period Ending on March 30th 2022 ( ₹ lakh ) | Period Ending on June 30th 2023 ( ₹ lakh ) | Period Ending on March 30th 2023 ( ₹ lakh ) |
|---|---|---|---|
| Total Income | 1,100.69 | 11,276.10 | 42,887.35 |
| Profit After Tax (PAT) | -180.18 | 192.57 | 554.47 |
| Assets | 2,578.48 | 9,847.95 | 7,782.64 |
| Total Borrowings | 2,286.28 | 5,178.96 | 4,450.93 |
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Strengths
2The company operates a diversified business model with its offerings ranging from castor doc and seeds to castor oil. As a result, the company is free from dependency on a single product.
The company believes that its business model is scalable as it is customer-centric and order-driven. It requires optimum utilisation of existing resources, assuring quality supply and achieving consequent economies of scale.
Risks
2The company’s business is exposed to risks arising from the increase in the cost of raw materials, which will adversely impact the profitability of the business.
The company operates all manufacturing activities from a single manufacturing facility in Gujarat. Any adverse event at that location could hamper the business operations.
