by Suman Gupta
- IPO comprises a fresh issue of 38 lakh Equity Shares with a face value of Rs. 10 each
- The company manufactures recycled and virgin plastic products, such as Recycled PET (Polyethylene Terephthalate) Flakes (RPF), Polyester Dope-Dyed Monofilament Yarn (PMY), Nylon Monofilament Yarn (NMY), and Blow and Injection-Molded Jars and Caps (BM & IM).
- RGL operates two manufacturing facilities located at Howrah, West Bengal
- The company intends to invest a substantial part of the total IPO proceeds in its wholly-owned subsidiary – Rungta Eco Extrusions Private Limited, to set up a new manufacturing facility
- Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Link Intime India Private Limited is the Registrar to the Issue
March 13, 2024: Rungta Greentech Limited (“RGL” or “The Company”), a leading manufacturer of recycled and virgin plastic products, announced the filing of its Draft Red Herring Prospectus (DRHP) with the NSE Emerge. The offering comprises a fresh issuance of 38 lakh Equity Shares, each with a face value of Rs. 10. Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Link Intime India Private Limited is the Registrar to the issue.
The Kolkata-headquartered company manufactures recycled and virgin plastic products such as Recycled PET (Polyethylene Terephthalate) Flakes (RPF), Polyester Dope-Dyed Monofilament Yarn (PMY), Nylon Monofilament Yarn (NMY), and Blow- and Injection-Molded Jars and Caps (BM & IM). The company’s product lines cater to various sectors, primarily packaging, textiles, aquaculture, agriculture, and the edible oil sector.
Rungta Greentech operates two manufacturing facilities in Howrah, West Bengal, and produces Recycled PET (Polyethylene Terephthalate) flakes, Polyester Dope-Dyed Monofilament Yarn, Nylon Monofilament Yarn, and Injection-Molded Jars and Caps. It supplies products to over 20 states, including Uttarakhand, West Bengal, Gujarat, Telangana, and Uttar Pradesh, and exports its products to Oman, Austria, Israel, and the United States of America.
According to the DRHP, RGL intends to invest a substantial part of the IPO proceeds in its wholly-owned subsidiary, Rungta Eco Extrusions Private Limited, to set up a new manufacturing facility. The company will utilise the remaining funds for general corporate purposes and issue proceeds.
RGL is planning to expand its existing line of business by adding new products to its portfolio, at the new manufacturing plant proposed to be set up at Howrah, West Bengal, through its wholly-owned subsidiary Rungta Eco Extrusions Private Limited. The new facility will serve as a forward integration to existing products by adding Food-Grade Recycled PET Resin and Recycled HDPE / PP granules to the portfolio.
The company was established by the promoter duo Deepak Rungta and Praveen Rungta on August 03, 2005, and the Blow & Injection Molding unit commenced in 2007. With over 45 years of combined experience, the promoters created an extensive network of retailers, distributors, and processors for the company over the years. RGL is well-positioned to capitalise on the current and future growth opportunities with the help of a competent team that includes management professionals in manufacturing, supply chain and logistics.
The company recorded a revenue of Rs. 23.76 crore and a profit (PAT) of Rs. 2.45 crore in the first half of the current financial year, which ended September 30, 2023. It registered a revenue of Rs. 49.38 crore and a profit (PAT) of Rs. 1.82 core in FY 2022-23.
RGL received prominent certifications such as ISO 9001:2015 for Quality Management Systems and ISO 14001:2015 for Environmental Management Systems, demonstrating its execution capabilities. The company significantly contributes to the circular economy and sustainability by recycling plastic waste.
For more information, please visit:https://rungta-group.in/
