Dollex Agrotech IPO will open for subscription from 15 December 2022. the company aims for an issue size of ₹24.39 Cr through this IPO.
About Company
The company is engaged in the business of manufacturing & trading sugar with captive power cogeneration capabilities. The company also produces and sells its by-products such as molasses, pressed, and bagasse which are used to generate power. Further, the company is engaged in power generation up to the captive power of 3 MW.
Dollex Agrotech’s product portfolio includes Jaggery powder, Sugar, Molasses, Bagasse, Press mud, and Pharma-grade Sugar. The company has booked a space through an agreement dated 25 December 2021 with a Warehousing facility for storing its sugar stocks with Star Agriwarehousing & Collateral Management Limited, situated at Khasra No. 421/1, Village Govindpur, Datia, Badoni, Madhya Pradesh for a quantity of 2000MT.
Dollex Agrotech has been in operation for the last 5 years and has developed good relationships with the cane farmers. The company has been allotted an area of 7600 sq. ft by the government to take the sugarcane produce from the farmers. It offers sufficient incentives and assistance in various stages of cultivation, thus ensuring loyalty from these farmers.
Basic details about the company
| Full name | Dollex Agrotech Limited |
| Sector | Agriculture |
| Industry | Sugar |
| Company Website | http://www.dollex.in/ |
The objective of the Issue
- To meet out the Working Capital requirements of the Company.
- For Issue Expenses.
- General Corporate Purposes.
Major Competitive strengths
- Strong management and employee team
- Good product portfolio.
- The company has achieved a turnover of Rs. 7,940.11 Lakhs and a Profit after tax of Rs. 326.90 Lakhs in the Financial year 2021-2022.
- Good relationship with sugar farmenrs.
IPO Timetable
| IPO Opening date | 15 December 2022 |
| IPO Closing | 20 December 2022 |
| Basis of Allotment | 23 December 2022 |
| Initiation Refund | 26 December 2022 |
| Credit to Demat Account | 27 December 2022 |
| Listing Date | 28 December 2022 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹24.39 Cr – 6,968,000 shares |
| Fresh Issue | ₹17.39 Cr – 4,968,000 shares |
| Offer for sale | ₹07.00 Cr – 2,000,000 shares |
| Face value | ₹10 per share |
| Offer price | ₹35 per share |
| Lot size | 4000 Shares |
| Retail Allocation | 50% |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹140,000 |
| Retail (Max) | 1 | 4000 | ₹140,000 |
| HNI (Min) | 2 | 8,000 | ₹280,000 |
Reservation Details
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | Q1 FY 2023 | |
| Revenue | 25.29 | 77.19 | 79.40 | 8.39 |
| Expenses | 24.58 | 75.08 | 75.38 | 6.27 |
| Net income | 0.58 | 1.67 | 3.27 | 1.51 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | Q1 FY 2023 | |
| EPS | 0.58 | 0.84 | 1.63 | 0.76 |
| PE ratio | – | – | 21.41 | – |
| RONW (%) | 5.00 | 7.21 | 12.34 | 5.40 |
| NAV | 11.55 | 11.61 | 13.25 | 14.00 |
Company Promoters
- Mr. Mehmood Khan
- Mrs. Munni Bee
Promoter Holding
| Pre Issue Share Holding | 99.50% |
| Post Issue Share Holding | 71.69% |
Lead Manager(s)
- Expert Global Consultants Private Limited
IPO Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153A, 1st Floor, Okhla Industrial Area,
Phase-I, New Delhi – 110020
Phone: 011-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Contact Details
DOLLEX AGROTECH LIMITED
205, Naroli Arcade 19/1,
Manorama Ganj, Palasia Square
Indore, Madhya Pradesh – 452001
Phone: +91 731 2495505
E-mail: info@dollex.in
Website: www.dollex.in
Allotment Status
Dollex Agrotech IPO allotment status will be available on Skyline Financial Services’ website. Click on Skyline IPO weblink to get allotment status.
Final thoughts
Dollex Agrotech IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
