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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 bidding started from August 1, 2024 and ended on August 5, 2024. The allotment for Dhariwalcorp IPO was finalized on Tuesday, August 6, 2024. The shares got listed on NSE SME on 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.
| IPO Date | August 1, 2024 to August 5, 2024 |
| Listing Date | August 8, 2024 |
| 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 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 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 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 |
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 | |||
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% |
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'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 | |||
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 |
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
[Dilip Davda] The company is having trading activities in variety of waxes, industrial chemicals, petroleum jelly etc. It posted inconsistency in its performances for the reported periods. Based on FY24 super earnings, the issue appears aggressively priced. The sudden jump in bottom line for FY24, i.e. pre-IPO year raises eyebrows and concern over its sustainability. There is no harm in skipping this pricey bet. Read detail review...
The Dhariwalcorp IPO is subscribed 174.95 times on August 5, 2024 6:19:58 PM. The public issue subscribed 183.89 times in the retail category, 76.93 times in the QIB category, and 279.17 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 76.93 |
| NII | 279.17 |
| Retail | 183.89 |
| Total | 174.95 |
Total Application : 122,286 (183.89 times)
| Listing Date | August 8, 2024 |
| BSE Script Code | |
| NSE Symbol | DHARIWAL |
| ISIN | INE0YRN01017 |
| Final Issue Price | ₹106 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹106.00 |
| ₹150.00 |
| ₹142.50 |
| ₹152.00 |
| ₹142.50 |
Dhariwalcorp Limited
36, Narayan Nagar, Shobhawaton ki dhani
Pal Link Road
Jodhpur – 342001
Phone: 70141 31630
Email: investor@dhariwalcorporation.com
Website: http://www.dhariwalcorporati/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Check our SME IPO Guide 
Dhariwalcorp IPO is a SME IPO of 2,372,400 equity shares of the 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.
The IPO opens on August 1, 2024, and closes on August 5, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Dhariwalcorp IPO using UPI as a payment gateway. Zerodha customers can apply in Dhariwalcorp IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Dhariwalcorp IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Dhariwalcorp IPO opens on August 1, 2024 and closes on August 5, 2024.
Dhariwalcorp IPO lot size is 1200 Shares, and the minimum amount required is ₹127,200.
You can apply in Dhariwalcorp IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Dhariwalcorp IPO will be done on Tuesday, August 6, 2024, and the allotted shares will be credited to your demat account by Wednesday, August 7, 2024. Check the Dhariwalcorp IPO allotment status.
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