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Dhariwalcorp IPO
Price Band
₹102.0–106.0
Issue Size
₹25.15 Cr
Lot Size
1,200 shares
Min Investment
₹127,200
GMP
+₹36.0 (33.96%)
Issue Price
₹106.0
Subject to Sauda
₹32800
Paid only if allotted
Dhariwalcorp IPO AI Summary
- Dhariwalcorp IPO is listed on NSE SME in the Trading - Chemicals sector.
- Price band: ₹102.0–₹106.0 per share, lot size 1,200 shares (min. investment ₹127,200).
- Subscription window: 01 Aug–05 Aug 2024, listing on 08 Aug 2024.
- Current GMP is +₹36.0 (33.96%), an estimated listing price of ₹142 — unofficial and can change daily.
Dhariwalcorp Limited is a trading company focused on waxes and industrial chemicals, with a strong growth trajectory in revenue and profit. The IPO aims to raise funds for expansion and operational needs, with a positive outlook suggested by its Grey Market Premium.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Dhariwalcorp IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 05 Aug 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Dhariwalcorp IPO Grey Market Premium (GMP) Today
GMP
+₹36.0
GMP %
+33.96%
Est. Listing
₹142.0
Updated: 25 Jul 2026 14:04
About the Company
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.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 21.31 | 19.61 | 13.51 |
| Total Income | 231.11 | 195.19 | 159.20 |
| Profit After Tax | 4.51 | 0.60 | 1.42 |
| NET Worth | 8.75 | 2.51 | 1.92 |
| Reserves and Surplus | 2.17 | 2.41 | 1.82 |
| Total Borrowing | 8.79 | 6.18 | 5.71 |
Key Ratios
EPS
₹6.85
NAV
₹13.34
ROE
51.50%
ROCE
59.80%
RoNW
51.50%
P/B Value
7.95
P/E Ratio
15.48
Market Cap
₹94.88 Cr
PAT Margin
1.97%
Debt/Equity
1.00
Promoters
Manish Dhariwal, Shakshi Dhariwal and Dilip Dhariwal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding Capital Expenditure towards construction of Warehouse 8.10 2 Funding working capital requirements of our company 8.00 3 General corporate purposes 6.14
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Revenue was ₹159.20 Cr in the year ending 31 Mar 2022, rising to ₹195.19 Cr by 31 Mar 2023, and further increasing to ₹231.11 Cr by 31 Mar 2024. This indicates a consistent growth trend in revenue over the three fiscal years.
Profit Trend
Profit After Tax was ₹1.42 Cr in the year ending 31 Mar 2022, increasing to ₹0.60 Cr by 31 Mar 2023, and further rising to ₹4.51 Cr by 31 Mar 2024. This shows a significant improvement in profitability, particularly in the latest fiscal year.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the potential premium at which an IPO might list on the stock exchange compared to its issue price. A positive GMP suggests strong demand for the shares, while a negative GMP indicates lower interest from investors.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health. It's important to consider how the company's performance aligns with broader market trends.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid investing in IPOs like this, which can be subject to high volatility and uncertainty in their early trading days.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by various factors including market conditions, investor sentiment, and overall demand for the shares. While a positive GMP may suggest potential gains, there are no guarantees, and investors should be prepared for the possibility of losses as well.
This evaluation is generated from Dhariwalcorp's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Dhariwalcorp IPO GMP today?
Dhariwalcorp IPO GMP today is +₹36.0 (33.96%), indicating an estimated listing price of ₹142. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Dhariwalcorp IPO?
The price band of Dhariwalcorp IPO is ₹102.0–₹106.0 per share.
When does Dhariwalcorp IPO open and close?
Dhariwalcorp IPO opens on 01 August 2024 and closes on 05 August 2024.
When does Dhariwalcorp IPO list on the stock exchange?
Dhariwalcorp IPO listed on 08 August 2024 at ₹142.0.
What is the lot size for Dhariwalcorp IPO?
The lot size for Dhariwalcorp IPO is 1200 shares, requiring a minimum investment of ₹127,200.
What is the lot size for this IPO?
The lot size for Dhariwalcorp's IPO is 1200 shares.
What is the minimum investment required?
The minimum investment required is ₹127,200.
What is the price band for the IPO?
The price band for the IPO is ₹102.0 to ₹106.0.
When is the listing date for the IPO?
The listing date for the IPO is 8th August 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the premium at which the IPO is expected to list compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
01 Aug 2024
Close
05 Aug 2024
Allotment
06 Aug 2024
Listing
08 Aug 2024
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