On Door Concepts IPO Review

 
On Door Concepts IPO Review

IPO Open Date: October 23, 2023

IPO Close Date: October 27, 2023

IPO Price: ₹208 per share

Lot Size: 600 Shares

Listing: November 6, 2023

On Door Concepts is scheduled to hit the market on October 23, 2023 and close on October 27, 2023. On Door Concepts plans to raise around ₹31.18 Cr through an IPO with a sale of up to 1,498,800 equity shares of ₹10 each. The Retail offered 50.00%, Other Shares Offered 50.00%.

Founded in December 2014, Ondoor Concepts operates as an e-commerce platform specializing in grocery and home essential deliveries. In January 2015, the company inaugurated its first store in Bhopal, Madhya Pradesh.

As of March 31, 2023, Ondoor Concepts has expanded to 55 stores across multiple cities in Madhya Pradesh, with 17 of these stores directly owned and operated by the company, while the remaining 38 operate under the franchise model.

On Door Concepts IPO Review


On Door Concepts IPO Details

On Door Concepts IPO opens on Oct 23, 2023, and closes on Oct 27, 2023. The Listing date for On Door Concepts IPO is on Nov 06, 2023. The price band for IPO is ₹208 per share and lot size of 600 Shares.

IPO DateOct 23, 2023 to Oct 27, 2023
Listing DateNov 06, 2023
Price₹208 per share
Lot Size600 Shares
Issue Size₹31.18 Cr
Face Value₹10 per share

On Door Concepts IPO Tentative Timetable

On Door Concepts opening date is October 23, 2023 and close date is October 27, 2023. The IPO allotment date is November 1, 2023. The refund initiation of IPO is on November 2, 2023. The credit of shares in demat account is on November 3, 2023. The listing date is on November 6, 2023.

EventDate
IPO OpeningOct 23, 2023
IPO ClosingOct 27, 2023
IPO Allotment DateNov 1, 2023
Refund InitiationNov 2, 2023
Shares Credit to DematNov 3, 2023
Lisiting DateNov 6, 2023

On Door Concepts IPO Lot Size

Lot Size of this IPO is 600 shares. A retail-individual investor can apply for up to 1 lot (600 shares or ₹124,800).

CategoryLotsSharesAmount
Retail(Minimum)1600₹124,800
Retail(Maximum)1600₹124,800
HNI (Minimum)21200₹249,600

On Door Concepts IPO Promoter Holding

Pre Issue Share Holding51.92%
Post Issue Share Holding38.14%

On Door Concepts IPO Review

ODCL's IPO has gained attention in the market, given the company's financial performance and recent trajectory. However, some discrepancies in the reported bottom lines for FY23 raise concerns, demanding clarification from the Lead Manager/management regarding these inconsistencies. While the company has managed to achieve profitability in FY23 and 5M-FY24, its historical losses in FY21 and FY22 have contributed to a relatively modest net profit.

With an average EPS of Rs. 14.27 and an average RoNW of 16.89% for the last three fiscals, the company has demonstrated moderate performance. However, the current asking price, with a P/E of 87.76 based on annualized FY24 earnings, seems excessively high, discounting some of the near-term positives. It's crucial for potential investors to carefully assess the pricing and seek clarity on the discrepancies in the financial statements before making any investment decisions.

Furthermore, the company's dividend policy remains conservative, as it has not declared any dividends since its incorporation, emphasizing its focus on leveraging profits for future growth. Although the management is confident about improving performance and has positioned the company as debt-free, investors are advised to approach this IPO cautiously, particularly considering the premium pricing and historical loss burden. Only investors with a surplus of funds and a comprehensive understanding of the company's prospects may consider parking funds for medium to long-term gains. Conducting thorough due diligence is strongly recommended before investing in this IPO.

On Door Concepts IPO Subscription Status (Bidding Details)

InvestorSubscription
Qualified Institutions (QII)0
Non-Institutional Buyers0
  bNII (bids above ₹10L)0
  sNII (bids below ₹10L)0
Retail Investors(RII)0
Employees0
Others0
Total0

On Door Concepts 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

On Door Concepts IPO FAQs

What is On Door Concepts IPO?

On Door Concepts is issuing 1,498,800 equity shares with a face value of ₹10 each, totaling up to ₹31.18 Cr. The shares are being offered at a price of ₹208 each, with a minimum order quantity of 600 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 On Door Concepts IPO will open?

On Door Concepts will open on October 23, 2023 for QIB, NII, and Retail Investors.

When On Door Concepts IPO will end?

On Door Concepts will end on October 27, 2023.

What is On Door Concepts IPO Size?

On Door Concepts IPO size is 31.18 Cr.

What is On Door Concepts IPO Price Band?

On Door Concepts price band is ₹208 per share.

What is the On Door Concepts IPO Allotment Date?

On Door Concepts allotment date is November 1, 2023.

What is the On Door Concepts IPO Listing Date?

On Door Concepts listing date is November 6, 2023. The IPO is to be listed on BSE and NSE.

How to Apply On Door Concepts IPO through Zerodha?

To apply for the IPO “On Door Concepts” 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 On Door Concepts IPO through Upstox?

To apply for the IPO “On Door Concepts” 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 On Door Concepts IPO Allotment Status?

For On Door Concepts IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is On Door Concepts IPO GMP?

You can check out here: On Door Concepts IPO GMP

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I'm tech-savvy, loves to write about saving, investing and proper financial planning. Also, I am a blogger, share everything with 100% transparency and the best of my knowledge.

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