Schedule of Dhariwalcorp
| Issue open date | 01 Aug 2024 |
| Issue close date | 05 Aug 2024 |
| UPI mandate deadline | 05 Aug 2024 (5 PM) |
| Allotment finalization | 06 Aug 2024 |
| Refund initiation | 07 Aug 2024 |
| Share credit | 07 Aug 2024 |
| Listing date | 08 Aug 2024 |
| Mandate end date | 20 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 06 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 05 Nov 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Dhariwalcorp
Dhariwalcorp Limited’s IPO launches on August 1, 2024, with subscriptions closing on August 5, 2024. Incorporated in 2020, the company trades a wide range of waxes, industrial chemicals, and petroleum jelly. The company handles various types of wax, including Paraffin Wax, Micro Wax, Slack Wax, and Carnauba Wax, among others. It also deals in industrial chemicals such as Rubber Process Oil, Citric Acid Monohydrate, and Petroleum Jelly.
Serving industries like Plywood, Paper Coating, Candle Production, Textiles, Pharmaceuticals, and Adhesive Manufacturing, the company operates a processing unit and warehouses in Jodhpur, Bhiwandi, Ahmedabad, and Mundra. Operating across 21 states and 3 Union territories in India, it also exports to Nepal.
Financials of Dhariwalcorp
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹25.15 crores |
| Fresh issue | ₹25.15 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding warehouse construction | 8.10 (32.22%) |
| Funding working capital | 8 (31.81%) |
| General corporate purposes | 9.05 (36.%) |
*All figures except EPS are in ₹ crores
Strengths
- Wide range of products: The product mix has diversified over the years to include new types of wax, industrial chemicals, and petroleum jelly, catering to various industries for further processing.
- Location advantages: Strategic warehousing in different locations reduces transportation costs and ensures a continuous supply of products across India.
- Well-established client relationships: Strong relationships with both domestic and international clients, resulting in repeated orders due to consistent product quality and personalized service.
Risks
- Dependence on key customers: The company relies heavily on major customers without long-term contracts. Loss of these customers could significantly impact business and financial performance.
- Quality requirements and product defects: Non-compliance with quality standards or product defects can lead to order cancellations, recalls, and liability claims, adversely affecting business and financial health.
- Fluctuating raw material prices: Changes in the prices of imported raw materials due to factors like exchange rates and geopolitical events can lead to financial losses and impact profitability.
- Unsecured loans: The company has unsecured loans that can be recalled at any time, leading to potential liquidity issues and the need for refinancing at unfavourable terms.