Divyadhan Recycling Industries IPO will open on September 26, 2024, and will close on September 30, 2024. Following a Book Built Issue format, the company aims to raise approximately ₹24.17 crores. This includes a fresh issue of ₹24.17 crores, along with an offer for sale of an undisclosed number of equity shares, each with a face value of ₹10.
Table of contents
- Divyadhan Recycling Industries IPO Overview
- Company Details
- Key Dates
- Financials (₹ in Lakhs)
- IPO Lot Size
- The objective of the Issue
- Company Promoters
- Divyadhan Recycling Industries IPO GMP (Grey Market Premium)
- Divyadhan Recycling Industries IPO Application Form PDF
- Divyadhan Recycling Industries IPO Subscription Status
- Divyadhan Recycling Industries IPO Allotment Status
- IPO Review
- Divyadhan Recycling Industries IPO Registrar
- Divyadhan Recycling Industries IPO Lead Manager
- Divyadhan Recycling Industries Limited Contact
- FAQs
Divyadhan Recycling Industries IPO Overview
| Overview Points | Description |
|---|---|
| Company Name | Divyadhan Recycling Industries Limited |
| Industry | Recycling and Waste Management |
| IPO Issue Type | Book Built Issue |
| Open Date | September 26, 2024 |
| Close Date | September 30, 2024 |
| Total Issue Size | ₹24.17 Crores |
| Fresh Issue | ₹24.17 Crores |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹60 to ₹64 per share |
| Listing on | NSE SME |
| Lot Size | 2000 Shares |
| Offer for Sale | NA |
| Shares Offered to Retail | 35% |
| Shares Offered to QIB | 50% |
| Shares Offered to HNI | 15% |
Company Details
Divyadhan Consultants Private Limited was originally founded in 2010. In 2013, the current promoters acquired the company in Himachal Pradesh from its original owners as a distressed asset under the SARFAESI Act, 2002, through Axis Bank Limited. Later, in 2023, the company underwent a name change to Divyadhan Recycling Industries Private Limited, with the Registrar of Companies (ROC) in Mumbai issuing a new Certificate of Incorporation on November 10, 2023.
Following this, the company transitioned into a public entity named Divyadhan Recycling Industries Limited, as per a shareholders’ resolution passed on December 13, 2023. A new Certificate of Incorporation was issued on March 02, 2024. The company specializes in producing both hollow and solid recycled polyester staple fiber, known for its excellent resilience properties, which are widely used in premium pillows, cushions, and quilts. These recycled fibers are supplied to various industries, including packaging, home furnishing, and textiles.
Additionally, the company has ventured into the production of recycled pellets, which have applications across industries such as automotive, packaging, and fiber. Although the production of these pellets is currently in the trial stage, Divyadhan Recycling Industries is driven by a clear vision for the future. The company aims to be a leader in the collection, segregation, recycling, and treatment of PET waste, promoting environmental sustainability. Its mission is to set new standards in responsible PET waste management while inspiring positive change across industries for the well-being of the planet.
Key Dates
| Events | Date |
|---|---|
| IPO Open Date | September 26, 2024 |
| IPO Close Date | September 30, 2024 |
| Basis of Allotment | October 1, 2024 |
| Refunds | October 3, 2024 |
| Credit to Demat Account | October 3, 2024 |
| IPO Listing Date | October 4, 2024 |
Financials (₹ in Lakhs)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | ₹2,412.11 | ₹1,938.64 | ₹1,767.74 |
| Revenue | ₹5,912.88 | ₹5,815.51 | ₹5,981.52 |
| Profit After Tax | ₹237.80 | ₹216.18 | ₹52.91 |
| Net Worth | ₹1,291.03 | ₹853.23 | ₹63,704,999.99 |
| Reserves and Surplus | ₹764.49 | ₹353.23 | ₹137.05 |
| Total Borrowing | ₹606.64 | ₹545.55 | ₹799.76 |
IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,28,000 |
| Retail (Max) | 1 | 2,000 | ₹1,28,000 |
| HNI (Min) | 2 | 4,000 | ₹2,56,000 |
The objective of the Issue
- The company intends to use a portion of the funds for its capital expenditure projects.
- Additionally, it will allocate resources toward general corporate purposes.
- Lastly, a portion of the proceeds will be used to cover the expenses associated with the IPO.
Company Promoters
- Mr. Pratik Gupta
- Mr. Varun Gupta
Divyadhan Recycling Industries IPO GMP (Grey Market Premium)
Are you curious about the latest Grey Market Premium (GMP) for the Divyadhan Recycling Industries IPO? Look no further! Visit our dedicated IPO GMP section where we keep you in the loop with daily updates on all IPOs, including Divyadhan Recycling Industries Limited. Additionally, stay ahead of the game with real-time GMP insights that can help you make informed investment decisions. Whether you’re a seasoned investor or just getting started, our updates have got you covered!
Divyadhan Recycling Industries IPO Application Form PDF
To download the Divyadhan Recycling Industries IPO application form, simply check out the IPO Forms. Additionally, you can download the ASBA IPO Forms PDF.
Divyadhan Recycling Industries IPO Subscription Status
This IPO subscription kicks off on September 26, 2024! Meanwhile, if you’re looking to stay updated with the latest subscription figures, head over to our IPO Subscription section for real-time data on all ongoing IPOs. Moreover, don’t miss out on the action—track the progress as it happens!
Divyadhan Recycling Industries IPO Allotment Status
To check the Divyadhan Recycling Industries IPO allotment status go to the IPO registrar website Skyline or go to IPO Allotment.
Furthermore, To check allotment status. Firstly, follow the steps below:
- Firstly, go to the link given above.
- Secondly, select the company name.
- Then, enter your PAN Number, Beneficiary Number, Application Number, or CAF Number.
- Finally, submit the details to get the allotment status.
IPO Review
Strengths:
- The company operates with a sustainable business model, ensuring long-term viability and growth.
- It maintains an environmentally conscious approach, aligning its operations with eco-friendly practices.
- Strong, cordial relationships with customers have fostered trust and long-term partnerships.
- A commitment to delivering high-quality products and services further strengthens the company’s reputation.
Risks:
- The company does not own the registered office it operates from, and any need to vacate could disrupt business operations.
- The company is currently involved in legal proceedings, and any unfavorable outcomes could lead to penalties that may impact operations and financial results.
- There have been periods of negative cash flow in the past, with the possibility of continued negative cash flows in the future.
- The company’s restated financial statements have been prepared by a peer-reviewed chartered accountant, who is not its statutory auditor, raising potential concerns.
- The under-utilization of current manufacturing facilities, along with potential difficulties in optimizing future capacity, could negatively affect the company’s growth and financial performance.
Divyadhan Recycling Industries IPO Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Phone: +91-11-40450193-97
Email: compliances@skylinerta.com
Website: www.skylinerta.com
Divyadhan Recycling Industries IPO Lead Manager
NARNOLIA FINANCIAL SERVICES LIMITED
201, 2nd Floor, Marble Arch, 236 B A.J.C Bose Road,
Kolkata, West Bengal- 700020, India
Phone: +91-8130678743
Email: pankaj.passi@narnolia.com
Website: www.narnolia.com
Divyadhan Recycling Industries Limited Contact
DIVYADHAN RECYCLING INDUSTRIES LIMITED
1803, Lodha Supremus, Saki Vihar Road, Opp.
Telephone Exchange, Powai, Mumbai City,
Maharashtra – 400072, India.
Phone: 91- 8928434702
E-mail: cs@divyadhan.in
Website: www.divydhan.in
FAQs
Divyadhan Recycling’s IPO is an SME offering through which the company aims to raise ₹24.17 crores. The issue is priced between ₹60 and ₹64 per equity share, with plans for listing on the NSE.
The IPO will open for subscription on September 26, 2024, allowing Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Investors to participate. Moreover, The subscription period will close on September 30, 2024.
Furthermore, The allocation is structured with 50% reserved for QIBs, 15% for NIIs, and 35% for retail investors.
You can apply online via ASBA through your bank account or by using UPI through your stockbroker. Additionally, investors can apply offline by filling out the required forms with their brokers.
Additionally, The total issue size of the Divyadhan Recycling IPO is set at ₹24.17 crores.
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