Regaal Resources Files For IPO

Kolkata: Kolkata-based agro-based company Regaal Resources Ltd has filed its draft red herring prospectus (DRHP) with market regulator SEBI to raise funds through an initial public offering (IPO).

The IPO comprises a fresh issue of shares worth up to Rs 190 crore and an offer-for-sale of up to nine million equity shares by the promoter.Proceeds from the fresh issue worth Rs 147 crore will be utilised for repayment and pre-payment of borrowings and general corporate purposes.Regaal Resources, one of the manufacturers of maize-based starch, specialty starches, food-grade starches and starch derivative products in India, has an installed crushing capacity of 750 tonnes per day.The company reported a revenue from operations increased by 22.97 per cent to Rs 600 crore in FY24, due to an increase in sales of manufactured and traded goods.