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Organic Recycling share price debut at 7.5% premium

Oct 6, 2023

By: BlinkX Research Team

Shares of Organic Recycling Systems were priced at Rs 215 when they were offered on the BSE SME market, representing a 7.5 percent premium over the Rs 200 issue price.  The public offering was oversubscribed 2.21 times in the retail segment, times in the QIB segment, and 4.28 times in the NII segment (non-institutional investor).

The stock increased after starting at Rs 225. A high of Rs 225.70 was reached around 11 am.

Sustainable waste management options are provided by the engineering firm Organic Recycling Systems Limited. In contrast to its losses in FY21 and FY22, the company declared a net profit of Rs 3.65 crore in FY23.

The Build Own Operate Transfer (BOOT) model, the Engineering Procurement and Commissioning (EPC) model, and the supply of key equipment are some of its business verticals. Revenue for Organic Recycling increased by 44% to Rs 25.34 crore in FY23.

Market capitalization for Organic Recycling Systems at the issue price was Rs 153.99 crore, and its price to earnings ratio was 25.54x. The m-cap-to-sales ratio equals 6.07 times the sales.