Dhariwal Corp Limited IPO opens on August 1, 2024, and closes on August 5, 2024. The allotment for the Dhariwal Corp IPO is anticipated to be completed on Tuesday, August 6, 2024. The IPO will be listed on the SME and NSE, with a tentative date set for Thursday, August 8,2024.
The price band for the Dhariwal Corp IPO is set at Rs 102 to Rs 106 per share. The IPO is a book-built issue of Rs 25.15 crores, entirely a fresh issue of 23.72 lakh shares.
Dhariwalcorp IPO Details
| IPO Date | August 1, 2024 to August 5, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹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 |
Dhariwalcorp 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 IPO Objectives
The objectives of the Issue are:
- Funding Working Capital requirement of the company
- Funding Capital Expenditure towards construction of Warehouse
- General Corporate Purpose.
About Dhariwalcorp Limited
Dhariwal Group Limited, founded in 2020, specializes in trading a diverse range of waxes, industrial chemicals, and petroleum jelly. The company handles the processing, purchasing, selling, importing, and trading of various wax types, including Paraffin, Micro, Slack, Carnauba, Microcrystalline, Semi-Refined Paraffin, Yellow Beeswax, Hydrocarbon, Montan, Polyethylene, Vegetable, Residue, Palm, BN Micro, Hydrogenated Palm, Micro Slack, PE, and Soya waxes.
In addition to waxes, Dhariwal Corp offers industrial chemicals such as Rubber Process Oil, Light Liquid Paraffin (LLP), Citric Acid Monohydrate, Refined Glycerin, Bitumen, Stearic Acid, and Petroleum Jelly (both Paraffin and White variants).
The company provides products to a range of industries, including Plywood and Board, Paper Coating, Crayon Manufacturing, Candle Production, Textiles, Pharmaceuticals, Cosmetics (particularly Petroleum Jelly), Tube & Tire Manufacturing, Match Production, Food Processing, and Adhesive Manufacturing. It plays a crucial role in the supply chain, ensuring high-quality products and reliable delivery.
Dhariwal Group operates a processing facility and maintains warehouses in Jodhpur, Rajasthan; Bhiwandi, Maharashtra; Ahmedabad, Gujarat; and Mundra, Kachchh, Gujarat. The company serves 21 states and 3 Union territories within India and exports to Nepal. For the fiscal years 2024, 2023, and 2022, the company reported domestic sales revenues of ₹226.30 lakhs, ₹191.93 lakhs, and ₹158.13 lakhs, respectively, accounting for 98.91%, 98.97%, and 99.72% of its total operational revenue.
As of March 31, 2024, Dhariwal Group employs seven individuals across its various departments.
Dhariwalcorp Limited Financial Information
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 |
Dhariwalcorp 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 IPO Timeline
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 |
| A 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 |
Conclusion
The Dhariwal Corp Limited IPO offers a compelling opportunity for investors with a price band set at Rs 102 to Rs 106 per share, aiming to raise Rs 25.15 crores through a fresh issue of 2,372,400 shares. The IPO proceeds will be used for working capital requirements, capital expenditures for warehouse construction, and general corporate purposes. The company, specializing in a diverse range of waxes and industrial chemicals, has shown substantial financial growth, with a notable increase in revenue and profit after tax in recent years. With its strong presence across India and exports to Nepal, Dhariwal Corp is well-positioned in its sector. The IPO listing is scheduled for August 8, 2024, on the NSE SME, marking a significant milestone in the company’s growth trajectory.
