Regaal Resources sets IPO price band at Rs 96–102; issue opens August 12

Kolkata-based maize processing firm Regaal Resources Ltd is set to launch its initial public offering (IPO) on Tuesday, August 12, 2025. The issue will remain open for subscription until Thursday, August 14, 2025.

The company has fixed the price band at Rs 96 to Rs 102 per equity share, with a face value of Rs 5 each. Investors can apply for a minimum of 144 equity shares and in multiples thereof.

The IPO comprises a fresh issue of equity shares aggregating up to Rs 210 crore and an offer-for-sale (OFS) of up to 94.12 lakh shares by promoters and members of the promoter group. Of the net proceeds from the fresh issue, Rs 159 crore will be used to repay or prepay certain outstanding borrowings.

Regaal Resources is a manufacturer of maize-based specialty products by crushing capacity, with a daily capacity of 750 tonnes. Its product portfolio includes native and modified maize starch, value-added food-grade starches such as maize flour, icing sugar, custard powder and baking powder, along with co-products like gluten, germ and enriched fiber.

The company supplies to both domestic and overseas markets, serving sectors like food processing, paper, animal nutrition and adhesives. Its manufacturing unit in Kishanganj, Bihar, operates on a zero-liquid-discharge (ZLD) basis, and its key export destinations include Nepal and Bangladesh.

Regaal's clientele features well-known names such as Emami Paper Mills, Century Pulp & Paper and Krishna Tissues. For the fiscal year ended March 2025, the company reported a revenue of Rs 915.16 crore, a 52.5 per cent jump from Rs 600.02 crore in FY24. Net profit more than doubled to Rs 47.67 crore in FY25, from Rs 22.14 crore in the previous fiscal.

The issue is being offered via the book-building route. Up to 50 per cent of the shares will be reserved for qualified institutional buyers (QIBs), a minimum of 15 per cent for non-institutional investors (NIIs) and at least 35 per cent for retail investors.

Pantomath Capital Advisors Pvt Ltd and Sumedha Fiscal Services Ltd are acting as the book-running lead managers, while MUFG Intime India Pvt Ltd is the registrar to the issue.