Regal Resources Limited is preparing to launch its first Initial Public Offering (IPO) on Tuesday, August 12, 2025. The company has set a price band for its equity shares between ₹96 and ₹102 each. The IPO will remain open for subscriptions until Thursday, August 14, 2025. Investors can apply for a minimum of 144 equity shares and in multiples of 144 thereafter.
This IPO will include a mix of a new issue of shares worth up to ₹210 crore and the sale of 9,412,000 equity shares by promoters and promoter group shareholders. The funds raised from the new issue will be used for the complete or partial repayment of certain borrowings and/or prepayment, amounting to ₹159 crore.
Based in Kolkata, Regal Resources is one of the largest producers of corn-based specialty products in India. According to an F&S report, the company has a total installed crushing capacity of 750 tons per day (TPD). It produces native starch and modified starch, which are plant-based natural starches derived from corn. The company’s co-products include gluten, germ, rich fiber, and fiber, alongside value-added products like corn flour, icing sugar, custard powder, and baking powder.
Regal Resources serves a variety of industries, including food products, paper, animal feed, and adhesives, catering to local and international customers. Its business model is designed to serve three extensive customer segments: manufacturers of end products, producers of intermediate products, and distributors/wholesalers.
The company operates a zero liquid discharge (ZLD) corn milling plant located in Kishanganj, Bihar. Its main export markets are Nepal and Bangladesh. Notable customers of Regal Resources include Emami Paper Mills Limited, Maniyokka Food Products Private Limited, Century Pulp and Paper, Kush Proteins Private Limited, and Mayank Kettle Foods Limited, among others.
Regal Resources’ revenue from operations increased by 52.52% in the financial year 2025, reaching ₹915.16 crore, up from ₹600.02 crore in the financial year 2024. This rise is mainly due to increased sales of produced and traded goods. The company’s profit after tax also saw significant growth, rising from ₹22.14 crore in the financial year 2024 to ₹47.67 crore in the financial year 2025.
The book-running lead managers for this offering are Pentomath Capital Advisors Private Limited and Sumedha Fiscal Services Limited. MUFG Intime India Private Limited is the registrar for the issue. The offering will be conducted through a book-building process, which will allocate 50% of the clean offer to qualified institutional buyers on a proportionate basis, 15% of the net offer to non-institutional investors, and 35% of the net offer to retail individual bidders.