Dhariwalcorp IPO is a book built issue of Rs 25.15 crores. The issue is entirely a fresh issue of 23.72 lakh shares.
Dhariwalcorp IPO opens for subscription on August 1, 2024 and closes on August 5, 2024. The allotment for the Dhariwalcorp IPO is expected to be finalized on Tuesday, August 6, 2024. Dhariwalcorp IPO will list on NSE SME with tentative listing date fixed as Thursday, August 8, 2024.
Dhariwalcorp IPO price band is set at ₹102 to ₹106 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹127,200. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹254,400.
Shreni Shares Limited is the book running lead manager of the Dhariwalcorp IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Dhariwalcorp IPO is Shreni Shares.
Refer to Dhariwalcorp IPO RHP for detailed information.
Dhariwalcorp IPO Details
| IPO Date | August 1, 2024 to August 5, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹102 to ₹106 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 2,372,400 shares (aggregating up to ₹25.15 Cr) |
| Fresh Issue | 2,372,400 shares (aggregating up to ₹25.15 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 6,579,000 |
| Share holding post issue | 8,951,400 |
| Market Maker portion | 123,600 shares Shreni Shares |
Dhariwalcorp IPO Reservation
Dhariwalcorp IPO offers 2,372,400 shares. 442,800 (18.66%) to QIB, 348,000 (14.67%) to NII, 798,000 (33.64%) to RII and 660,000 (27.82%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 660,000 (27.82%) |
| Market Maker Shares Offered | 123,600 (5.21%) |
| QIB Shares Offered | 442,800 (18.66%) |
| NII (HNI) Shares Offered | 348,000 (14.67%) |
| Retail Shares Offered | 798,000 (33.64%) |
| Total Shares Offered | 2,372,400 (100%) |
Dhariwalcorp IPO Anchor Investors Details
Dhariwalcorp IPO raises Rs 7.00 crore from anchor investors. Dhariwalcorp IPO Anchor bid date is July 31, 2024. Dhariwalcorp IPO Anchor Investors list
| Bid Date | July 31, 2024 |
| Shares Offered | 660,000 |
| Anchor Portion Size (In Cr.) | 7.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 4, 2024 |
Dhariwalcorp IPO Timeline (Tentative Schedule)
Dhariwalcorp IPO opens on August 1, 2024, and closes on August 5, 2024.
| IPO Open Date | Thursday, August 1, 2024 |
| IPO Close Date | Monday, August 5, 2024 |
| Basis of Allotment | Tuesday, August 6, 2024 |
| Initiation of Refunds | Wednesday, August 7, 2024 |
| Credit of Shares to Demat | Wednesday, August 7, 2024 |
| Listing Date | Thursday, August 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 5, 2024 |
Dhariwalcorp IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹127,200 |
| Retail (Max) | 1 | 1200 | ₹127,200 |
| HNI (Min) | 2 | 2,400 | ₹254,400 |
| Lot Size Calculator | |||
Dhariwalcorp IPO Promoter Holding
The promoters of the company are Mr. Manish Dhariwal, Ms. Shakshi Dhariwal and Mr. Dilip Dhariwal.
About Dhariwalcorp Limited
Incorporated in 2020, Dhariwalcorp Limited trades in a wide range of waxes, industrial chemicals, and petroleum jelly.
The company processes, purchases, sells, imports, and trades various types of wax, including Paraffin Wax, Micro Wax, Slack Wax, Carnauba Wax, Microcrystalline Waxes, Semi-Refined Paraffin Wax, Yellow Beeswax, Hydrocarbon Wax, montan wax, Polyethylene Wax, Vegetable Wax, Residue Wax, Palm Wax, BN Micro Wax, Hydrogenated Palm Wax, Micro Slack Wax, PE Wax, and Soya Wax.
The company also deals in industrial chemicals such as Rubber Process Oil, Light Liquid Paraffin (LLP), Citric Acid Monohydrate, Refined Glycerin, Bitumen, Stearic Acid, and Petroleum Jelly, including Paraffin Petroleum Jelly and White Petroleum Jelly.
“Dhariwalcorp serves industries such as Plywood and Board, Paper Coating, Crayon Manufacturing, Candle Production, Textiles, Pharmaceuticals, Petroleum Jelly & Cosmetics, Tube & Tire Manufacturing, Match Production, Food Processing, and Adhesive Manufacturing. The company plays a significant role in the supply chain of these sectors, ensuring quality products and timely delivery.”
The company operates one processing unit and has warehouses in Jodhpur, Rajasthan, Bhiwandi, Maharashtra, Ahmedabad, Gujarat, and Mundra, Dist. Kachchh, Gujarat.
The company operates in 21 states and 3 Union territories in India for domestic sales. They also export products to Nepal. The revenue from domestic sales for the fiscal years 2024, 2023, and 2022 was ₹226.30 Lakhs, ₹191.93 Lakhs, and ₹158.13 Lakhs, respectively, contributing to 98.91%, 98.97%, and 99.72% of its total revenue from operations for those years.
As of March 31, 2024, the company has seven department employees.
Dhariwalcorp Limited Financial Information (Restated)
Dhariwalcorp Limited’s revenue increased by 18.4% and profit after tax (PAT) rose by 653.06% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 2,131.30 | 1,961.06 | 1,351.04 |
| Revenue | 23,111.35 | 19,519.43 | 15,920.11 |
| Profit After Tax | 450.63 | 59.84 | 142.41 |
| Net Worth | 875.00 | 251.42 | 191.58 |
| Reserves and Surplus | 217.10 | 241.42 | 181.58 |
| Total Borrowing | 878.76 | 618.13 | 571.43 |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
The market capitalization of Dhariwalcorp IPO is Rs 94.88 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 51.50% |
| ROCE | 59.80% |
| Debt/Equity | 1 |
| RoNW | 51.50% |
| P/BV | 7.95 |
| PAT Margin (%) | 1.97 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.85 | 5.03 |
| P/E (x) | 15.48 | 21.06 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Dhariwalcorp IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Funding Capital Expenditure towards construction of Warehouse
- Funding working capital requirements of the company;
- General corporate purposes