Desco Infratech Limited SME IPO: A New Investment Opportunity in Infrastructure...
18 Apr, 2025
Dhariwalcorp Limited IPO
The company specializes in trading industrial chemicals and waxes, including Rubber Process Oil, Citric Acid, Bitumen, and Petroleum Jelly. We serve diverse industries such as textiles, pharmaceuticals, and food processing, with a strong presence across 21 Indian states and 3 Union territories. We have also begun exporting to Nepal. Our operations include a processing unit and multiple warehouses in Rajasthan, Maharashtra, Gujarat, and Kachchh. We source products both domestically and internationally from countries like China, Egypt, and the UAE.
Committed to quality and safety, we continuously enhance our products and services to meet industry standards and customer needs. The Dhariwalcorp IPO is a book-built issue valued at â¹25.15 crores, consisting entirely of a fresh issue of 2,372,000 shares. The IPO will be open for subscription from August 1, 2024, to August 5, 2024. Allotments are expected to be finalised on August 6, 2024, with the shares scheduled to be listed on the NSE SME on August 8, 2024. The price band for the IPO is set between â¹102 and â¹106 per share. Retail investors must apply for a minimum of 1,200 shares, requiring an investment of â¹127,200. For High Net-Worth Individuals (HNIs), the minimum investment is for 2 lots (2,400 shares), totalling â¹254,400. Shreni Shares Limited is the book-running lead manager for the IPO, Bigshare Services Pvt Ltd is the registrar, and Shreni Shares is the market maker.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Dhariwalcorp Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Dhariwalcorp Limited IPO Details
| Detail | Description |
|---|---|
| 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 |
| Shareholding pre issue | 6,579,000 |
| Shareholding post issue | 8,951,400 |
| Market Maker portion | 123,600 shares Shreni Shares |
Dhariwalcorp Limited IPO Timeline
| Detail | Description |
|---|---|
| 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 Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹127,200 |
| Retail (Max) | 1 | 1200 | ₹127,200 |
| HNI (Min) | 2 | 2400 | ₹254,400 |
>Dhariwalcorp Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Dhariwalcorp Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 99.99% | 73.50% |
Company & Financials
The company, active across 21 Indian states and exporting to Nepal, specializes in waxes, industrial chemicals, and petroleum jelly. It has a processing unit and four warehouses, emphasizing efficient logistics and safety. Led by experienced promoters, it leverages its optimized supply chain for a competitive market edge. Handling cargo and forwarding freight
- Market Presence: The company operates across 21 states and 3 Union territories in India and has begun exporting to Nepal.
- Revenue: For the fiscal years 2024, 2023, and 2022, domestic sales generated â¹226.30 Lakhs, â¹191.93 Lakhs, and â¹158.13 Lakhs respectively, contributing 98.91%, 98.97%, and 99.72% of total revenue.
- Facilities: The company has one processing unit and four warehouses located in Jodhpur, Bhiwandi, Ahmedabad, and Mundra. Outsourcing is used for warehouses in Bhiwandi, Ahmedabad, and Mundra.
- Safety & Logistics: Facilities are equipped with necessary equipment and follow strict safety norms. The company emphasizes efficient logistics and supply chain management.
- Procurement: Products are sourced both domestically and internationally from countries like China, Egypt, Singapore, UAE, UK, and Hong Kong.
- Product Range: Specializes in waxes, industrial chemicals, and petroleum jelly for various applications, including Plywood, Paper Coating, Candle Production, and more.
- Management: Promoted by Mr Manish Dhariwal and Ms Shakshi Dhariwal, who have 15+ and 10+ years of experience in the industry respectively.
- Competitive Edge: Focus on quality, sustainability, and efficient supply chain management provides a competitive advantage in the wax and chemicals market.
Competitive Strength:
- -
Dhariwalcorp Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 2131.30 | 23111.35 | 450.63 | 875.00 | 878.76 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 1961.06 | 19519.43 | 59.84 | 251.42 | 618.13 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 1351.04 | 15920.11 | 142.41 | 191.58 | 571.43 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| 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 |
Objectives of Dhariwalcorp Limited IPO
The company plans to use the net proceeds from the issue for the following purposes:
- Financing the construction of a new warehouse
- Supporting the company's working capital needs
- Covering general corporate expenses
Dhariwalcorp Limited IPO Review
The company is launching its first book-built IPO, offering 2,372,400 equity shares with a face value of â¹10 each, aiming to raise â¹25.15 crore at the upper price limit. The price band is set between â¹102 and â¹106 per share. The subscription period runs from August 1, 2024, to August 5, 2024, with a minimum application of 1,200 shares and additional lots in multiples of 1,200. Shares will be listed on the NSE SME Emerge platform post allotment. The issue represents 26.50% of the company’s post-IPO paid-up capital. The proceeds will be allocated as follows: â¹8.00 crore for working capital, â¹8.10 crore for warehouse construction, and the remaining amount for general corporate purposes. Previously, the company issued equity shares at par and later at â¹655 per share in December 2023, followed by a 50:1 bonus issue in March 2024. The average acquisition cost for promoters is â¹3.04 and â¹12.84 per share. After the IPO, the company’s paid-up equity capital will increase from â¹6.58 crore to â¹8.95 crore. At the upper end of the IPO price range, the company is targeting a market capitalization of â¹94.89 crore.
RHP:
DRHP:
Frequently asked Questions (FAQs )
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What is Dhariwalcorp Limited IPO?
Dhariwalcorp IPO is an SME IPO of 2,372,400 equity shares of a face value of ₹10 aggregating up to ₹25.15 Crores. The issue is priced at ₹102 to ₹106 per share. The minimum order quantity is 1200 Shares.
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When will Dhariwalcorp Limited IPO?
The IPO opens on August 1, 2024, and closes on August 5, 2024.
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What is Dhariwalcorp Limited IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is Dhariwalcorp Limited IPO Size?
Dhariwalcorp Limited IPO Size is ₹25.15 crores.
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What is Dhariwalcorp Limited's Price Band?
Dhariwalcorp Limited IPO Price Band is ₹102 to ₹106 per share.
