Dhariwalcorp is scheduled to hit the market on August 01, 2024 and close on August 05, 2024. Dhariwalcorp plans to raise around ₹25.15 Cr through an IPO with a sale of up to 2,372,400 equity shares of ₹10 each. The Retail offered 10%, QIB Shares Offered 75%, HNI Shares Offered 15%.
Incorporated in 2020, Dhariwalcorp Limited specializes in trading a diverse range of waxes, industrial chemicals, and petroleum jelly. The company processes and trades various types of wax, including Paraffin, Micro, Carnauba, and Vegetable Waxes, along with Hydrocarbon and Beeswax. Additionally, it deals in industrial chemicals such as Rubber Process Oil, Light Liquid Paraffin, and Citric Acid Monohydrate. Dhariwalcorp serves multiple industries, including Plywood, Paper Coating, Candle Production, and Pharmaceuticals, ensuring quality products and timely delivery through its processing unit and warehouses located in Jodhpur, Bhiwandi, Ahmedabad, and Mundra.
The company operates across 21 states and three Union territories in India for domestic sales and exports products to Nepal. Domestic sales revenue for the fiscal years 2024, 2023, and 2022 reached ₹226.30 Lakhs, ₹191.93 Lakhs, and ₹158.13 Lakhs, respectively, making up nearly all of its total revenue from operations during these years. As of March 31, 2024, Dhariwalcorp employs seven department staff members.
Dhariwalcorp IPO Details
Dhariwalcorp IPO opens on August 01, 2024, and closes on August 05, 2024. The Listing date for Dhariwalcorp IPO is on August 08, 2024. The price band for IPO is ₹102 to ₹106 per share and lot size of 1200 Shares.
| IPO Date | August 01, 2024 to August 05, 2024 |
| Listing Date | August 08, 2024 |
| Price | ₹102 to ₹106 per share |
| Lot Size | 1200 Shares |
| Issue Size | ₹25.15 Cr |
| Face Value | ₹10 per share |
Dhariwalcorp IPO Tentative Timetable
Dhariwalcorp opening date is August 01, 2024 and close date is August 05, 2024. The IPO allotment date is August 06, 2024. Therefund initiation of IPO is on August 07, 2024. The credit of shares in demat account is on August 07, 2024. The listing date is on August 08, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 01, 2024 |
| IPO Closing | August 05, 2024 |
| IPO Allotment Date | August 06, 2024 |
| Refund Initiation | August 07, 2024 |
| Shares Credit to Demat | August 07, 2024 |
| Lisiting Date | August 08, 2024 |
Dhariwalcorp IPO Lot Size
Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹127,200).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1200 | ₹127,200 |
| Retail(Maximum) | 1 | 1200 | ₹127,200 |
| S-HNI (Minimum) | 2 | 2400 | ₹254,400 |
Dhariwalcorp IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 73.50% |
Dhariwalcorp IPO Review
Dhariwalcorp Ltd. is an enterprise engaged in the trading of an extensive range of waxes, industrial chemicals, and petroleum jelly. The company deals in a wide variety of waxes such as Paraffin Wax, Micro Wax, Slack Wax, Carnauba Wax, Microcrystalline Waxes, and several others. Additionally, it trades in industrial chemicals including Rubber Process Oil, Light Liquid Paraffin, Citric Acid Monohydrate, Refined Glycerin, Bitumen, Stearic Acid, and various types of Petroleum Jelly. Dhariwalcorp caters to numerous industries such as pharmaceuticals, textiles, food processing, and adhesive manufacturing, boasting a considerable domestic market presence across 21 states and 3 Union territories in India, and has recently ventured into the export market, supplying products to Nepal.
On the financial front, Dhariwalcorp has displayed inconsistency in its performance over the past few years. The company reported a total income of ₹159.20 crore and a net profit of ₹1.42 crore in FY22, which increased to ₹195.19 crore in income and ₹0.60 crore in net profit in FY23, before surging to ₹231.11 crore in income and ₹4.51 crore in net profit in FY24. The company's financials show a notable improvement in the pre-IPO year, raising concerns about the sustainability of this sudden surge. The IPO is priced at a P/E of 21.07 based on FY24 earnings, and the company's post-IPO NAV per share is ₹34.62, suggesting that the issue is aggressively priced.
Considering the inconsistent financial performance and the aggressive pricing of the IPO, investing in Dhariwalcorp Ltd. appears to be a high-risk proposition with potentially low returns. The dramatic increase in profitability in the pre-IPO year raises questions about the long-term viability of these earnings. Consequently, while Dhariwalcorp's diverse product range and extensive market reach are commendable, the financial uncertainties and high valuation suggest that it may be prudent for investors to exercise caution and consider skipping this IPO.
Dhariwalcorp IPO Subscription Status (Bidding Details)
Table not foundDhariwalcorp IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Dhariwalcorp IPO FAQs
What is Dhariwalcorp IPO?
Dhariwalcorp is issuing 2,372,400 equity shares with a face value of ₹10 each, totaling up to ₹25.15 Cr. The shares are being offered at a price of ₹102 to ₹106 each, with a minimum order quantity of 1200 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Dhariwalcorp IPO will open?
Dhariwalcorp will open on August 01, 2024 for QIB, NII, and Retail Investors.
When Dhariwalcorp IPO will end?
Dhariwalcorp will end on August 05, 2024.
What is Dhariwalcorp IPO Size?
Dhariwalcorp IPO size is ₹25.15 Cr.
What is Dhariwalcorp IPO Price Band?
Dhariwalcorp price band is ₹102 to ₹106 per share.
What is the Dhariwalcorp IPO Allotment Date?
Dhariwalcorp allotment date is August 06, 2024.
What is the Dhariwalcorp IPO Listing Date?
Dhariwalcorp listing date is August 08, 2024. The IPO is to be listed on BSE and NSE.
How to Dhariwalcorp IPO through Zerodha?
To apply for the IPO “Dhariwalcorp” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Dhariwalcorp IPO through Upstox?
To apply for the IPO “Dhariwalcorp” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Dhariwalcorp IPO Allotment Status?
July 30, 2024For Dhariwalcorp IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Dhariwalcorp IPO GMP?
You can check out here: Dhariwalcorp IPO GMP