Ahead of the listing, the company’s shares traded with a premium of Rs 36 in the unlisted market.
The IPO, which was completely a fresh equity sale of 23.72 lakh shares, received a healthy response from investors with an overall subscription of over 100 times at close.
Dhariwalcorp is engaged in the business of trading a 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 among others.
Additionally, it also 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.The 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 and cosmetics, tube and tire manufacturing, match production, food processing, and Adhesive manufacturing.With its diverse range of products, it plays a significant role in the supply chain of these sectors, ensuring quality products and timely delivery. The products are sold both domestically and internationally.
For the fiscals 2024, 2023 and 2022, the company’s revenue from domestic sales was Rs 2.26 crore, Rs 1.91 crore and Rs 1.58 crore, respectively, which contributed 98.91%, 98.97%, and 99.72%, respectively of total revenues.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
