The Dhariwalcorp IPO is a book-built issue worth Rs 25.15 crores, comprising entirely of a fresh issue of 23.72 lakh shares.
The Dhariwalcorp IPO will be open for subscription from August 1, 2024, to August 5, 2024. The allotment is expected to be finalized on Tuesday, August 6, 2024, with the shares listed on the NSE SME on Thursday, August 8, 2024.
The IPO price band is set at ₹102 to ₹106 per share. The minimum application lot size is 1200 shares, requiring a minimum investment of ₹127,200 for retail investors. High Net Worth Individuals (HNIs) must invest in at least 2 lots (2,400 shares), amounting to ₹254,400.
- Book Running Lead Manager – Shreni Shares Limited
- Registrar – Bigshare Services Pvt Ltd
- Market Maker – Shreni Shares
Below are the details of Dhariwalcorp Limited IPO 2024 Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Dhariwalcorp Limited IPO 2024 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 |
Dhariwalcorp Limited IPO 2024 Timeline
| Event | Timeline |
|---|---|
| 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 2024 Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹127,200 |
| Retail (Max) | 1 | 1200 | ₹127,200 |
| HNI (Min) | 2 | 2,400 | ₹254,400 |
Dhariwalcorp Limited IPO Reservation
| 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 Limited IPO Anchor Investors
| 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 Promoters
The promoters of the company are Mr. Manish Dhariwal, Ms. Shakshi Dhariwal and Mr. Dilip Dhariwal.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 73.50% |
Dhariwalcorp IPO 2024 Financial Information
| 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 | |||
Dhariwalcorp Limited IPO 2024 Review
It is a versatile company engaged in trading a wide range of waxes, industrial chemicals, and petroleum jelly. Their extensive product portfolio includes various waxes such as Paraffin Wax, Micro Wax, and Carnauba Wax, as well as industrial chemicals like Rubber Process Oil and Citric Acid Monohydrate. Serving diverse industries from pharmaceuticals to food processing, Dhariwalcorp ensures quality products and timely delivery through its extensive supply chain network. The company’s IPO, set to raise Rs 25.15 crores, opens on August 1, 2024, with a price band of ₹102 to ₹106 per share. Despite its robust product range and PAN India presence, the company’s inconsistent financial performance and the significant profit surge in FY24 raise concerns about the sustainability of its earnings. The IPO seems aggressively priced, and potential investors might approach with caution.