Dangee Dums IPO comprises of 27,12,000 equity shares. Dangee Dums Limited, engaged and indulged into a venture of chocolate business, bringing forward one of the finest couvertures chocolates sourced from Belgium. The Company also introduced cakes and pastry.
Let’s have a detailed review of the company and analytics of the Dangee Dums IPO release date, IPO offer price, subscription, Dangee Dums IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Dangee Dums IPO Review & Ratings
|Dangee Dums IPO Ratings & Review|
|Top Brokers Review||8.3/10|
Summary of Dangee Dums IPO
The companyis engaged and indulged into a venture of chocolate business, bringing forward one of the finest couvertures chocolates sourced from Belgium. The Company also introduced cakes and pastry. Dangee Dums IPO comprises of 27,12,000 equity shares of which value of Rs 10 each. Out of which 1,38,000 equity shares will be reserved for subscription by market maker and 25,74,000 equity shares is referred to as the “net issue”. The issue and the net issue will constitute around 26.42 % and 25.07 %, respectively.
Recent Restated Financial Statements:
- The NAV per Equity Share, based on Standalone Restated Financials of our Company as on March 31, 2018
was Rs. 15.3/- per equity share, March 31, 2017 was Rs. (133)/- and March 31 2016 was Rs. (150)/-.
- The Net worth of our Company as on 31 st March, 2018 was Rs. 1155.9 Lakhs. The company had a negative networth as on 31 st March, 2017 and 31 st March, 2016.
The Promoters of this company are Mr. Nikul Jagdishchandra Patel, Mrs. Forum Nikul Patel and Mr. Ravi Hemantkumar Patel. The lead manager to the issue are MONARCH NETWORTH CAPITAL LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
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Dangee Dums IPO Date
The opening and the closing date of Dangee Dums Ltd IPO is from 20 Aug 2018 – 24 Aug 2018.
Dangee Dums IPO Subscription
|Day / Date||QIB||NII||RII||Total Subscription|
|Day 1 – 20 Aug||NA||3.34x or 42,96,000||0.64x or 8,30,400||1.99x or 51,26,400|
|Day 2 – 21 Aug||NA||4.87x||1.77x||3.32x|
|Day 3 – 23 Aug||NA||5.33x||5.06x||5.20x|
Net Issue for Public is 2,576,000.
Dangee Dums IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
- Offer Opens On: Aug 20, 2018
- Offer Closes On: Aug 24, 2018
- Basis of Allotment Finalization On: ~ Aug 29, 2018
- Initiation of refund On: Aug 30, 2018
- Equity Shares Credit to demat accounts On: Aug 31, 2018
- Commencement of trading on the Stock Exchanges On: ~ Sep 3, 2018
Dangee Dums IPO Price Band
The face value of each share is Rs 10, the price band or cash price of the IPO is Rs 74.
Dangee Dums IPO Equity Share Offering
Public issue of 27,12,000 Equity Shares (including Market Maker reservation portion of 1,36,000 equity shares).
The Minimum Order Quantity or Market Lot is 1,600 Equity Shares and in multiples thereof. The Maximum Subscription Amount for Retail Investor Rs. 2,00,000. The Tick size is Rs 1.
The average cost of acquisition of Equity Shares by our Promoters is set out below:
|NAME OF OUR PROMOTER||NUMBER OF EQUITY
|AVERAGE COST OF
|Mr. Nikul Jagdishchandra Patel||21,280||Rs. 74|
|Mr. Ravi Hemant Kumar Patel||17,16,385||Rs. 22.82|
|Mrs. Foram Nikul Patel||52,97,835||Rs. 23.24|
Dangee Dums Ltd Limited – Company Overview
The Company was originally incorporated as ―Aromen Hospitality Private Limited on August 13, 2010 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. The name of the company was thereafter changed to ―Dangee Dums Private Limited on June 30, 2017. The Company was subsequently converted in to a public company and consequently name was changed to ―Dangee Dums Limited (DDL) vide fresh certificate of incorporation dated August 24, 2017 issued by Registrar of Companies, Ahmedabad, Gujarat.
The initial Promoters of the company were Mr. Mrudang Drashan Jambusaria and Nirman Infracon Pvt. Ltd. with an aim of running a business of cakes, chocolates and desserts. Dangee Dums Limited, engaged and indulged into a venture of chocolate business, bringing forward one of the finest couvertures chocolates sourced from Belgium. The Company then introduced cakes and pastry with the concept of creating an exquisite lounge which was born out of sheer love for desserts, the need to have a one-stop place for the common man to treat their taste buds to sublime pure rich cakes and pastries and to spread this all over the country.
The company is based out of Ahmedabad, Gujarat and spear headed by Mr. Nikul Jagdishchandra Patel, who holds a degree of Bachelor of Engineering in civil from Gujarat University, being a foodie, he came up with the idea of starting a business related to chocolates. In June 2011, Mr. Mrudang Drashan Jambusaria expressed his desire to quit the business and Mr. Nikul Jagdishchandra Patel took over the entire operations as he had confidence in the product and the market for such product.
The first challenge was to choose a brand name. Promoters wanted a name which was not related to any product, geography, culture or region. ―The basic idea was to choose such a name that could be carried forward to any country. Thus the idea to use the brand name ―Dangee Dums which did not have any meaning, was born.
Business strategies of Dangee Dums Ltd Limited:
- Widening our distribution network
- Enhancing our brand image
- Developing the new product line
- Customer satisfaction
- Leveraging our marketing skills and initiatives
- Improving functional efficiency
Dangee Dums Ltd Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
|Amount (in INR & Lakhs)|
|Profit After Tax||154.7||90.5||-513.1||-288.0||-127.5|
Earnings per Equity Share (in Lakhs)
|Basic and Diluted||2.42||17.34||(507)||NA||NA|
From the above statements, one could find that the Dangee Dums Ltd Limited may perform well.
Dangee Dums IPO – Promoters
The Promoter of this company are:
|Mr. Nikul Jagdishchandra Patel|
|Mrs. Foram Nikul Patel|
|Mr. Ravi Hemantkumar Patel|
List of Related Parties (Key Managerial Personnel)
|Mr. Mahendrabhai Gulabdas Patel|
|Mr. Munjal Mahendrabhai Patel|
|Ms. Nidhiben Mahendrabhai Patel|
|Mrs. Mansiben Munjal Patel|
|Mrs. Kailashben Mahendrabhai Patel|
|Mr. Jagdishchandra Bhailalbhai Patel|
|Mrs. Daxaben Jagdishchandra Patel|
Interest in promotion of the Company
Promoters are interested in the Company to the extent that they have promoted the Company and to the extent of their respective shareholding in the Company, their Directorship in the Company and the dividends payable, if any, and any other distributions in respect of their respective shareholding in the Company.
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Dangee Dums IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Issued:
Public Issue of Equity Shares by our
|27,12,000 Equity Shares of Face Value of Rs. 10/- each, cash price of the IPO is Rs 74.|
|Issue Reserved for the Market
|1,38,000 Equity Shares of Rs.10/- each|
|Net Issue to the Public*||25,74,000 Equity Shares of Rs.10/- each|
|12,87,000 Equity Shares of Rs.10/- each for cash at a price of Rs. [●] per share ( including a premium of Rs. [●] per Equity Share) will be available for allocation for allotment to Retail Individual Investors of up to Rs.2.00 Lakhs|
|12,87,000 Equity Shares of Rs.10/- each for cash at a price of Rs. [●] per share ( including a premium of Rs. [●] per Equity Share) will be available for allocation for allotment to Other Investors of above Rs.2.00 Lakhs|
|Equity Shares outstanding prior to
|75,53,000 Equity Shares of face value of Rs.10/- each|
|Equity Shares outstanding after the
|1,02,65,000 Equity Shares of face value of Rs.10/- each|
Dangee Dums IPO Issue Object
These are the IPO Issue Objects of the company:
1. Repayment of Existing Secured Loans
2. Purchase of Fixed Assets
3. General Corporate Expense
4. Issue Expenses
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Dangee Dums IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced promoters and Management Expertise;
- Quality projects and committed operations;
- Independent Execution capabilities ; and
- Networking strength
The relevant quantitative factors are:
|Basic & Diluted EPS||RONW (%)||NAV (Rs.)|
- Competitive Peers:
Particulars Face Value (in Rs.) EPS (In Rs.) P/E Ratio RONW (%) NAV (In Rs.) Coffee Day Enterprise 10 -2.91 -98.09 N.A. 88.8 Jubilant Foodworks 10 31.29 43.4 19.77 158.21 Vidli Restaurants 10 0.34 164.71 2.97 11.52 Dangee Dums 10 2.42 NA NA 15.3
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Dangee Dums IPO Lead Managers
|MONARCH NETWORTH CAPITAL LIMITED,
Address – Monarch House, Opp., Ishwar Bhuvan, Commerce Six Road, Navrangpura,
Ahmedabad – 380009. Tel. No. – 079 – 6600 0754/ 2666 6754
Website: https://www.mnclgroup.com/ Email: [email protected]
Investor Grievance Email: [email protected]
Contact Person: Mr. Shivam Patel SEBI Regn. No. MB/ INM000011013
Dangee Dums IPO Registrar to offer
|Registrar to the Offer|
|BIGSHARE SERVICES PRIVATE LIMITED,
Address – 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road,
Marol, Andheri East, Mumbai – 400059. Tel. No. – 022 – 6263 8200
Website: https://www.bigshareonline.com/ Email: [email protected]
Investor Grievance Email: [email protected]
Contact Person: Mr. Shrinivas Dornala SEBI Regn. No. INR000001385
- Statutory Auditor – M/S. J. T. SHAH & CO., CHARTERED ACCOUNTANT
- Bankers to the Company – ICICI Bank Limited
- Peer Review Auditor – M/S. J. T. SHAH & CO., CHARTERED ACCOUNTANT
Dangee Dums IPO Review by Top 10 Stock Brokers
|Top Stock Brokers Review||Company Reputation||Competitive Edge||Financial Statement||Popularity Index||Promoters Reputation|
The ratings would be updated once the financials and the other details of the IPO are released.
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