Dhariwal Corp Limited is one of the leading Importers and Exporters of a comprehensive range of Wax and Industrial Chemicals. Besides, they are also engaged as Manufacturer and Supplier of Candles. 

Dhariwal Corp, a Book Built Issue amounting to ₹25.14 crores, consisting entirely a Fresh Issue of 23.724 Lakh Shares. The subscription period for the Dhariwal Corp IPO opens on July 01, 2024, and closes on August 05, 2024. The allotment is expected to be finalized on or about Tuesday, August 06, 2024, and the shares will be listed on the NSE SME with a tentative listing date set on or about Thursday, August 08, 2024.

The Share price band of Dhariwal Corp IPO is set at ₹102 to ₹106 equity per share, with a minimum lot size of 1,200 shares. Retail investors are required to invest a minimum of ₹127,200, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (2,400 shares), amounting to ₹254,400.

SHRENI SHARES LIMITED is the book-running lead manager, BIGSHARE SERVICES PVT LTD is the registrar for the Issue. Shreni Shares Limited will act as the Market Maker for the Dhariwal Corp IPO.

Dhariwal Corp Limited IPO GMP Today
The Grey Market Premium of Dhariwal Corp Limited IPO is expected in the range of ₹30 to ₹35 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Dhariwal Corp Limited IPO Live Subscription Status Today
As of 06:39 PM on 02 August 2024, the Dhariwal Corp Limited IPO live subscription status shows that the IPO subscribed 9.13 times on on the first day of subscription period. Check the Dhariwal Corp Limited IPO Live Subscription Status Today at NSE.

Dhariwal Corp Limited IPO Live Subscription Status Today
As of 09:28 PM on 01 August 2024, the Dhariwal Corp Limited IPO live subscription status shows that the IPO subscribed 3.03 times on day 1 . Check the Dhariwal Corp Limited IPO Live Subscription Status Today at NSE.

Dhariwal Corp Limited IPO Allotment Status
Dhariwal Corp IPO allotment date is 06 August, 2024, Tuesday. Dhariwal Corp IPO Allotment will be out on 6th August 2024 and will be live on Registrar Website from the allotment date. Check Dhariwal Corp Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Dhariwal Corp Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Dhariwal Corp Limited IPO
Dhariwal Corp Issue Proceeds from the Fresh Issue will be utilized towards the following objects :
1. ₹810.00 Lakhs is required for Funding Capital Expenditure towards construction of Warehouse 
2. ₹800.00 Lakhs is required for Funding working capital of their company; 
3. General corporate purposes.

Refer to Dhariwal Corp Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live GMP today, Live Subscription Status Today, Share Price, Financial Information, latest IPO news, Upcoming IPO News before applying in the IPO.

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About Dhariwal Corp Limited

“Dhariwalcorp” engaged in the business of trading of comprehensive range of waxes, industrial chemicals, and petroleum jelly. The company is involved in processing, purchasing, selling, importing, and trading 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, Soya Wax, etc.

Additionally, the Company trade 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. Their product range encompasses all types of heavy and light chemicals, chemical elements and compounds, petrochemicals, industrial chemicals, mixtures, derivatives, articles, compounds, by-products, and activities of a similar nature.

The company serves various industries including Plywood and Board, Paper Coating, Crayon Manufacturing, Candle Production, Textiles, Pharmaceuticals, Petroleum Jelly & Cosmetics, Tube & Tire Manufacturing, Match Production, Food Processing, and Adhesive Manufacturing. With their diverse range of products, they play a significant role in the supply chain of these sectors, ensuring quality products and timely delivery.

They have a PAN India presence with 21 states and 3 Union territories for our domestic market (based on sales made for the financial years ended March 31, 2024, 2023, and 2022). They have also initiated their export division and are supplying products to one country, namely Nepal, based on sales made for the financial year ended March 31, 2024. 

They procure their products for further supply from both domestic markets and markets across the globe, including China, Egypt, Singapore, UAE, UK, and Hong Kong. Their domestic market encompasses Assam, Bihar, Dadra and Nagar Haveli & Daman and Diu, Delhi, Goa, Gujarat, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, West Bengal, Uttarakhand. These purchases were made for the financial years ending March 31, 2024, 2023, and 2022.

INDIAN WAX INDUSTRY
The India wax market size is projected to exhibit a growth rate (CAGR) of 4.5% during 2024-2032. The widespread product adoption across the industrial sector, the growing product utilization in the manufacturing of vehicle polish and the extensive product use in fruit coatings to extend shelf life represent some of the key factors driving the market.

Wax is a versatile substance that finds numerous applications across various industries. It is a solid material with a low melting point, typically derived from natural sources such as plants, animals, and petroleum. The most common types of wax include beeswax, paraffin wax, and carnauba wax, each possessing distinct properties suited for different purposes. Beeswax, produced by honeybees, is well-known for its natural, eco-friendly qualities. It is commonly used in cosmetics, candles, and furniture polishes due to its pleasant scent, smooth texture, and ability to enhance shine. Paraffin wax, a by product of crude oil refining, is the most widely used type of wax due to its affordability and ease of manufacturing. Its applications include candles, coatings for food products, and as a component in cosmetics and pharmaceuticals. Carnauba wax, mainly derived from the Brazilian palm tree leaves, is renowned for its hardness and high melting point. It is commonly found in automobile waxes, shoe polishes, and various industrial products, providing a protective and glossy finish. Beyond these specific types, waxes can be customized and blended to meet specific requirements in various sectors, including paper and packaging, textiles, and the automotive industry. They offer benefits such as moisture resistance, lubrication, and surface protection.

The market in India is majorly driven by widespread product adoption across the industrial sector. Waxes are widely used in industries such as packaging, cosmetics, pharmaceuticals, and textiles. The growth of these industries in India has a direct impact on the demand for waxes. For instance, the expanding packaging sector requires waxes for coatings and laminations, while the cosmetics industry utilizes waxes in lipsticks, lotions, and creams. Moreover, the automotive sector in India is witnessing significant growth, and waxes play a crucial role in applications, such as car waxing and polish. As the automotive industry expands, so does the demand for automotive-grade waxes. Also, the construction industry in India is booming, leading to increased demand for building materials, including waxes for coatings and adhesives used in construction. Furthermore, in the agricultural sector, waxes find use in fruit coatings to extend shelf life and maintain freshness. Additionally, the demand for food-grade waxes is rising due to the growing focus on food safety and hygiene, thereby acting as a growth-inducing factor. Apart from this, ongoing research and development activities aimed at improving wax properties, developing new applications, and finding innovative uses of waxes contribute to market growth further.

India Wax Market Segmentation: 

Type Insights: 
• Mineral Wax 
• Synthetic Wax 
• Natural Wax 
• Others 
The report has provided a detailed breakup and analysis of the market based on the type. This includes mineral wax, synthetic wax, natural wax, and others.

Application Insights: 
• Candles 
• Cosmetics 
• Packaging 
• Emulsions 
• Hot Melts 
• Floor Polishes

INDIAN TRADING INDUSTRY
There has been a significant expansion in distribution channels in India during the past few years. Indian retail industry is one of the fastest growing in the world. According to Invest India, the overall retail market is set to cross the $2 trillion mark by 2032 from $690 billion in 2021. The Indian retail e-commerce market, which amounted to $72 billion in 2021, is also set to grow at an annual growth rate of 30% for a gross value of goods of $350 billion by 2030. Retail is India's largest industrial sector, currently accounting for over 10% of India's GDP and 8% of total employment. 

Most Indian manufacturers use a three-tier selling and distribution structure that has evolved over the years. This structure involves redistribution stockists, wholesalers, and retailers. As an example, an FMCG company operating on an all-India basis could have between 40 and 80 redistribution stockists (RS). The RS will sell the product to between 100 and 450 wholesalers. Finally, both the RS and wholesalers will service between 250,000-750,000 retailers throughout the country. The RS will sell to both large and small retailers in the cities as well as interior parts of India. Depending on how a company chooses to manage and supervise these relations, its sales staff may vary from 75 to 500 employees. Wholesaling is profitable by maintaining low costs with high turnover, with typical FMCG product margins anywhere from 4-5%. Many wholesalers operate out of wholesale markets. In urban areas, the more enterprising retailers provide credit and homedelivery. Now, with the advent of shopping malls, companies talk of direct delivery and discounts for large retail outlets.

In 2021, e-commerce generated $63 billion in revenues, growing by 26% compared to 2020 (ecommerceDB). India will have 500 million online buyers by 2030, compared to 150 million in 2020, with digital spending projected to increase more than tenfold to $800 billion and account for more than a third of all retail sales by 2030.

India’s food and grocery retail industry is considered the third largest in the world with sales reaching $858 billion in 2022 and expected to grow annually by 8.17% (Statista). The food and grocery sector constitutes nearly 70% of the total retail market in India. The food retail sector in India is comprised of modern grocery retailers along with e-commerce, representing 10% of the market share and traditional retail formats, specifically neighborhood shops called kirana stores, which account for 90% of all retail sales. 

Due to the Covid-19 crisis, the food retail sector in India has undergone changes. India's largest food retailer, Reliance, has worked with WhatsApp to expand its presence in the e-commerce market by linking kirana shops to its online platform and supply chain. Due to blocking restrictions and social distance regulations, Indian customers have increasingly turned to ecommerce platforms to secure essential food supplies. Thus, many retailers have organised themselves with and commerce services, Amazon India has expanded its Amazon Pantry services to over 300 cities. 

The unorganized sector in food retail is predominantly dominated by general stores, kirana stores, convenience stores and street markets. On the other hand, the organized sector includes gourmet stores, department stores, discount stores, supermarkets and hypermarkets, e-tailers and cash-and-carry formats; there are mainly Indian firms. 

The major food retail chains in India are: Reliance Retail, Future Value Retail, Avenue Supermarts Limited, More Retail Limited, Star Bazaar, Spencer’s Retail, Walmart India, Spar Hypermarket and Namdhari’s Fresh.

INDIAN CHEMICAL INDUSTRY
Covering more than 80,000 commercial products, India’s chemical industry is extremely diversified and can be broadly classified into bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers, and fertilisers. India is the 6th largest producer of chemicals in the world and 3rd in Asia, contributing 7% to India’s GDP. India's chemical sector, which was estimated to be worth US$ 220 billion in 2022, is anticipated to grow to US$ 300 billion by 2025 and US$ 1 trillion by 2040. 

Globally, India is the fourth-largest producer of agrochemicals after the United States, Japan and China. India accounts for 16-18% of the world's production of dyestuffs and dye intermediates. India’s agrochemicals export was estimated to be at US$ 3.12 billion from April 2023 to December 2023. Indian colourants industry has emerged as a key player with a global market share of ~15%. The country’s chemicals industry is de-licensed, except for a few hazardous chemicals. India has traditionally been a world leader in generics and biosimilars and a major Indian vaccine manufacturer, contributing more than 50% of the global vaccine supply. India holds a strong position in exports and imports of chemicals at a global level and ranks 14th in exports and 8th in imports at the global level (excluding pharmaceuticals). From April 2023 to December 2023, India's dye exports (Dyes and Dye Intermediates) totalled US$ 1.69 billion.

India's chemical sector, which was estimated to be worth US$ 220 billion in 2022, is anticipated to grow to US$ 300 billion by 2025 and US$ 1 trillion by 2040. The demand for chemicals is expected to expand by 9% per annum by 2025. The chemical industry is expected to contribute US$ 383 billion to India’s GDP by 2030. 

India has traditionally been a world leader in generics and biosimilars and major Indian vaccine manufacturers, contributing more than 50% of the global vaccine supply. Chemicals and petrochemicals demand in India is expected to nearly triple and reach US$ 1 trillion by 2040. 

An investment of Rs. 8 lakh crore (US$ 107.38 billion) is estimated in the Indian chemicals and petrochemicals sector by 2025. Specialty chemicals account for 20% of the global chemicals industry's US$ 4 trillion, with India's market expected to increase at a CAGR of 12% to US$ 64 billion by 2025. This gain would be driven by a healthy demand growth (CAGR of 10-20%) in the export/end-user industries.

The Department of Chemicals & Petrochemicals intends to bring PLI in the chemical & petrochemical sector and will redraft the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) guidelines. 

The Indian chemical industry is expected to further grow with a CAGR of 11-12% by 2027, increasing India’s share in the global specialty chemicals market to 4% from 3%. 

A shift in the global supply chain brought on by the China+1 strategy and a resurgence in domestic end-user demand was expected to fuel significant revenue growth of 18–20% in 2022 and 14–15% in 2023.

DHARIWAL CORP LIMITED STRENGTHS
1. Wide range of products
2. Location Advantages
3. Experienced Promoter and management team
4. Well established relationship with clients

DHARIWAL CORP LIMITED STRATEGIES
1. Invest in proposed centralized warehouse facility and increase storage capacity
2. Expand relationships with our existing customers
3. Focus on increase in volume of sales
4. Improving Functional Efficiency

DHARIWAL CORP LIMITED RISK FACTORS & CONCERNS
1. They are exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact our results of operations.
2. There can be a change in prices of raw material imported by the company from foreign countries which can lead to losses to the company.
3. The company is dependent on their warehousing services for the delivery of their finished goods and supply of their products.
4. They generate their major portion of sales from their operations in certain domestic market.
5. They might infringe upon the intellectual property rights of others and any misappropriation of their intellectual property could harm their competitive position.