- ORSL was part of the consortium that was awarded Waste to Energy projects at Palakkad and Kannur
Kochi, 19 September 2023: Organic Recycling Systems Limited, a technology engineering (TEPC) company focused on environmental solutions and providing waste management solutions, brings its IPO for 25,00,200 equity shares, wherein each equity shares with a face value of Rs 10/- per share is priced at Rs 200 per share, thereby aggregating to Rs 5,000.40 Lakhs. The minimum lot size is of 600 shares. The issue opens on the 21st of September and closes on the 26th of September and will subsequently be listed on SME Platform of BSE. The lead managers to the issue are Arihant Capital Markets Limited and the registrar to the issue is Maashitla Securities Private Limited.
Organic Recycling Systems Limited intends to utilize the net issue proceeds for reduction of the aggregate outstanding borrowings of the company and towards general corporate purposes.
Organic Recycling Systems Limited (ORS) is a technology engineering (TEPC) company focusing on environmental solutions and providing waste management solutions across waste types and across the value chain. ORS has proven patented technology (DRYAD) and also has the capability of successfully running India’s first AD based Municipal Solid Waste (MSW) to Energy plant of 400 TPD at Solapur. This project is a case study for a model project under the “Swachh Bharat Abhiyaan.” ORS has demonstrated commercialization of various revenue streams across Biogas, Electricity, Composting, Refused Derived Fuel / Biomass Pellets, Plastic recycling and carbon black. The company has proven technology and capability of successfully running one of India’s first Waste to Energy (WTE) plant developed on anaerobic biomethanation technology. It has been part of the consortium that was awarded waste to energy projects at Palakkad and Kannur.
The company has 3 business verticals: (i)Product developer & Technology Licensing with Engineering, Procurement and Construction (EPC) division, (ii) Product vertical and (iii)Consulting vertical
With the data collected over the years, the company is now a front runner for various EPC opportunities in the country and therefore providing solutions encompassing the entire value chain for waste management.
Organic Recycling Systems Limited has shown consistent financial growth with its total revenue for FY23 being Rs 2534.10 lakhs as compared to Rs 1756.67 lakhs for FY22 and Rs 1578.18 lakhs for FY21. Its EBITDA for FY23 stood at Rs 1,149.45 lakhs, which was Rs 214.08 lakhs for FY22 and Rs 326.89 lakhs for FY21.
The promoter of the company is Mr Sarang Bhand and the registered office of the company is in Vashi, Navi Mumbai.
