Bookbuilding IPO | ₹24 Cr | Listed at NSE SME | Thu, Sep 26, 2024 - Mon, Sep 30, 2024
Divyadhan Recycling IPO is a book build issue of ₹24.17 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹24.17 crore.
Divyadhan Recycling IPO bidding started from Sep 26, 2024 and ended on Sep 30, 2024. The allotment for Divyadhan Recycling IPO was finalized on Oct 1, 2024. The shares got listed on NSE SME on Oct 4, 2024.
Divyadhan Recycling IPO price band is set at ₹64 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,28,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,56,000.
Narnolia Financial Services Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Kantilal Chhaganlal Securities Pvt.Ltd..
Refer to Divyadhan Recycling IPO RHP for detailed Information.
IPO Open
Thu, Sep 26, 2024
IPO Close
Mon, Sep 30, 2024
Issue Price
₹64 per share
Market Cap (Pre-IPO)
₹91.56 Cr
| IPO Date | 26 to 30 Sep, 2024 |
| Listed on | Fri, Oct 4, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹60 to ₹64 |
| Issue Price | ₹64 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 37,76,000 shares (agg. up to ₹24 Cr) |
| Reserved for Market Maker | 2,00,000 shares Kantilal Chhaganlal Securities Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 35,76,000 shares (agg. up to ₹23 Cr) |
| Net Offered to Public | 35,76,000 shares (agg. up to ₹23 Cr) |
| Share Holding Pre Issue | 1,05,30,714 shares |
| Share Holding Post Issue | 1,43,06,714 shares |
| NSE Symbol | DIVYADHAN |
| ISIN | INE0QYI01019 |
Divyadhan Recycling IPO comprises a total issue size of 37,76,000 shares. The net offer to the public is 35,76,000 shares, after excluding 2,00,000 shares allotted on a firm basis. Of the Net offer 17,86,000 (49.94%) are allocated to QIB, 5,38,000 (15.04%) allocated to NII 12,52,000 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 17,86,000 | 49.94% | 47.30% |
| − Anchor Investor Shares Offered | 10,70,000 | 28.34% | |
| − QIB (Ex. Anchor) Shares Offered | 7,16,000 | 18.96% | |
| NII (HNI) Shares Offered | 5,38,000 | 15.04% | 14.25% |
| Retail Shares Offered | 12,52,000 | 35.01% | 33.16% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,00,000 | 5.30% | |
| Total Shares Offered | 37,76,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | 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 |
Divyadhan Recycling IPO raises ₹6.85 crore from anchor investors. Divyadhan Recycling IPO Anchor bid date is September 25, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Sep 25, 2024 |
| Shares Offered | 10,70,000 |
| Anchor Portion (₹ Cr.) | 6.85 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Nov 3, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Fri, Jan 3, 2025 |
Incorporated in May 2010, Divyadhan Recycling Industries Limited manufactures Recycled Polyester Staple Fibre (R-PSF) and Recycled Pellets.
The company is certified for Quality Management System (ISO 14001:2015) and Environmental Management System (ISO 14001:2015) for manufacturing Recycled Polyester Staple Fibre.
The company operates in two business verticals:-
The Company's manufacturing unit is located in Village Kalyanpur, Tehsil Baddi, Dist Solan Himachal, and has a total capacity of 8030 metric tons per annum for fibre and 4320 metric tons per annum for pellets.
As of August 31, 2024, the company had around 83 employees in various departments.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 24.12 | 19.39 | 17.68 |
| Total Income | 59.13 | 58.16 | 59.82 |
| Profit After Tax | 2.38 | 2.16 | 0.53 |
| NET Worth | 12.91 | 8.53 | 6.37 |
| Reserves and Surplus | 7.64 | 3.53 | 1.37 |
| Total Borrowing | 6.07 | 5.46 | 8.00 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet out the Capital Expenditure | 17.04 |
| 2 | To meet out the General Corporate Purposes; and | 3.98 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 18.42% |
| ROCE | 20.76% |
| Debt/Equity | 0.47 |
| RoNW | 18.42% |
| PAT Margin | 4.24% |
| Price to Book Value | 4.90 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.26 | 1.66 |
| P/E (x) | 28.34 | 38.5 |
| Promoter Holding | 94.06% | 69.24% |
| Market Cap | ₹91.56 Cr. |
The Divyadhan Recycling Industries IPO is subscribed 40.93 times on September 30, 2024 6:20:01 PM (Day 3). The public issue subscribed 32.43 times in the retail category, 29.39 times in the QIB category, and 76.03 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 29.39 | 7,16,000 | 2,10,46,000 |
| NII* | 76.03 | 5,38,000 | 4,09,06,000 |
| Retail | 32.43 | 12,52,000 | 4,06,08,000 |
| Total | 40.93 | 25,06,000 | 10,25,60,000 |
Total Application : 20,304
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees | 0.50 |
| 2 | Escrow Bank Fees | 0.01 |
| 3 | Registrars to the issue | 0.02 |
| 4 | Legal Advisors | 0.05 |
| 5 | Printing and advertising expenses | 0.07 |
| 6 | Regulators including stock exchanges | 0.05 |
| 7 | Market Maker Fees | 0.06 |
| 8 | Others (Fees payable to the marketing and distributing expenses, Selling Commission, Brokerage, Processing Fees, Underwriting Fees, Peer Review Auditors, and other misc. expenses) | 2.39 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹64.00 |
| Open | ₹84.00 |
| Low | ₹81.00 |
| High | ₹88.20 |
| Last Trade | ₹88.20 |
Lead Manager Reports
Divyadhan Recycling IPO is a SME IPO of 37,76,000 equity shares of the face value of ₹10 aggregating up to ₹24 Crores. The issue is priced at ₹64 per share. The minimum order quantity is 2000.
The IPO opens on Thu, Sep 26, 2024, and closes on Mon, Sep 30, 2024.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Divyadhan Recycling IPO using UPI as a payment gateway. Zerodha customers can apply in Divyadhan Recycling IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Divyadhan Recycling IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Divyadhan Recycling IPO opens on Thu, Sep 26, 2024 and closes on Mon, Sep 30, 2024.
Divyadhan Recycling IPO lot size is 2000, and the minimum amount required for application is ₹1,28,000.
You can apply in Divyadhan Recycling IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Divyadhan Recycling IPO will be done on Tuesday, October 1, 2024, and the allotted shares will be credited to your demat account by Thu, Oct 3, 2024. Check the Divyadhan Recycling IPO allotment status.
The Divyadhan Recycling IPO listing date is on Fri, Oct 4, 2024.
