Dhariwalcorp IPO subscribed 175 times on high demand from NIIs, retail investors; check key details

Dhariwalcorp Limited IPO closed with an overwhelming response from investors on Monday, August 5. The NSE SME IPO was booked 175 times on the last day of bidding on high demand from retail investors and the non-institutional investors (NIIs).

According to NSE data, the industrial chemicals trading firm’s initial public offering (IPO) received bids for more than 27.8 crore shares compared to 15.88 lakh shares on offer.

The public issue was subscribed 279.52 times in the NIIs category, with applications for 9.72 crore shares against 3.48 lakh shares set aside for the segment.

Retail investors applied for 14.67 crore shares against 7.98 lakh shares set aside for the category. The retail portion was booked 183.88 times. The Qualified Institutional Buyers (QIB) placed bids for 3.4 crore shares against 4.42 lakh shares reserved for the category. The QIBs segment was booked 76.93 times.

Dhariwalcorp IPO offer size, price band and other details

Dhariwalcorp IPO is a book-building issue worth ₹25.15 crore. The SME public issue comprises an entirely fresh issue of 23.72 lakh shares, including an anchor allocation of 6.6 lakh shares.

The IPO price band was fixed at ₹102 to ₹106 per share.

The subscription window for the IPO was open from August 1 to August 5. The IPO allotment status is likely to be finalised on August 6. Shares of the company are likely to be listed on the NSE SME platform on August 8.

Dhariwalcorp IPO registrar

Bigshare Services Private Limited is the registrar of the Dhariwalcorp IPO, while Shreni Shares Limited is the book-running lead manager for the issue. Shreni Shares is the market maker for the IPO.

Dhariwalcorp IPO objective

Dhariwalcorp Limited plans to use the IPO proceeds to finance the construction of a warehouse, meet working capital needs, and use a sizable portion for general corporate purposes.

About Dhariwalcorp Limited IPO

Dhariwalcorp Limited, established in 2020, is a trader of waxes, industrial chemicals and petroleum jelly. The company's diverse product range includes paraffin wax, micro wax, slack wax and carnauba wax. The company caters to a wide range of industries such as plywood, paper coating, crayon manufacturing, candle production, textiles, pharmaceuticals, cosmetics, tube and tyre manufacturing, and adhesives. Dhariwalcorp has built a supply chain for timely delivery and high-quality products. The company operates one processing unit and maintains strategically located warehouses in Jodhpur, Bhiwandi, Ahmedabad and Mundra.