Rajgor Castor Derivatives is listed on NSE SME at a premium of 18% over the IPO price

 Rajgor Castor Derivatives is listed on NSE SME at a premium of 18% over the IPO price

On the NSE SME platform, Rajgor Castor Derivatives shares started at Rs 59, down from the IPO price of Rs 50.

On October 31, Rajgor Castor Derivatives became public on the NSE with a premium of 18% above the IPO price. On the SME platform, the shares started at Rs 59, compared to the issue price of Rs 50.

Through the public offering, which included 88.95 lakh shares valued at Rs 44.48 crore and a 6.66 lakh share offer for purchase for Rs 3.33 crore, the business was able to collect Rs 47.81 crore. The issue's price range was set at Rs 47–50 per share, and it was available for subscriptions from October 17 to October 20.

Bids for 66.93 crore shares were received for the small and medium business (SME) public offering, which was booked 97.73 times, with an offer size of 68.49 lakh shares. High net worth people purchased 260 times, retail investors bid 80.07 times, while qualified institutional buyers purchased 35.52 times their allocated quota.

Seven anchor investors contributed a total of Rs 13.56 crore to the organization. Included in the anchor book were NAV Capital VCC - NAV Capital Emerging Star Fund, Neomile Growth Fund - Series I, Moneywise Financial Services, LRSD Securities, Rajasthan Global Securities, VPK Global Ventures, and Nexus Global Opportunities Fund.

Kumar Brijesh The company's promoters includes Vasantlal Rajgor, Vasantkumar S. Rajgor, as well as Maheshkumar S. Rajgor. prior to the IPO, the promoters' and promoter group's ownership was 67.26 percent and 32.74 percent, respectively; after the issuance, their stake dropped to 40.71 percent and 19.31 percent.

In the previous fiscal years, Rajgor Castor Derivatives achieved significant profits growth. On an annual basis, net profit increased dramatically from Rs 0.52 crore in FY22 to Rs 5.54 crore in the year that concluded in FY23. During the same time, revenue increased from Rs 39.67 crore to Rs 428.78 crore.

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The IPO's net proceeds will be used to general company activities and working capital needs. Beeline Capital Advisors served as the issue's book-running lead manager, Link Intime India as the registrar, and Spread X Securities as the market maker.

The Rajgor family uses the B2B business model in their manufacture of castor oil, castor oil cake, and high-protein oil cake as well as their trading in agricultural commodities.