Dangee Dums IPO – Review, Allotment, Subscription, GMP, Date & more

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
Criteria Ratings
Industry Sentiments  8.3/10
Industry Ranking  8.3/10
Company Background 8.1/10
Company Reputation 8.4/10
Competitive Edge 8.4/10
Financial Statements 7.5/10
Popularity Index 8.2/10
Promoters Reputation 7.3/10
Retail Appetite  7.2/10
Top Brokers Review 8.3/10
Overall Ratings  8.1/10
Star Ratings ★★★★☆

Summary of Dangee Dums IPO

Dangee Dums IPOThe 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
Day 4 NA 104.01x 23.85x 63.98x
Day 5

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
SHARES HELD
AVERAGE COST OF
ACQUISITIONS 
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:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 4367.2 2716.7 1552.9 845.4 309.2
Total Revenue 3657.8 1996.1 1153.1 598.3 295.3
Total Expense 3555.3 1961.0 1687.0 898.0 424.6
Profit After Tax 154.7 90.5 -513.1 -288.0 -127.5

Earnings per Equity Share (in Lakhs)

31-March-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
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.

Property Interest

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
Company 
27,12,000 Equity Shares of Face Value of Rs. 10/- each, cash price of the IPO is Rs 74. 
of which
Issue  Reserved  for  the  Market
Makers 
1,38,000  Equity  Shares  of  Rs.10/-  each
Net Issue to the Public* 25,74,000 Equity Shares of Rs.10/- each
Of which
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
the Issue 
75,53,000 Equity Shares of face value of Rs.10/- each 
Equity  Shares  outstanding  after  the
Issue 
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.)
31-Mar-16 (507) NA (150)
31-Mar-17 17.34 (13.04) (133)
31-Mar-18 2.42  13.39 15.3
  • 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

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:
Investor Grievance Email:
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:
Investor Grievance Email:
Contact Person: Mr. Shrinivas Dornala SEBI Regn. No. INR000001385

Other Details:

  • 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
Angel Broking 7.7/10 7.7/10 7.8/10 7.3/10 7.7/10
Sharekhan 7.4/10 7.4/10 7.5/10 7.7/10 7.8/10
Kotak Securities 7.7/10 7.4/10 7.3/10 7.8/10 7.5/10
ICICI Direct 7.8/10 7.7/10 7.5/10 7.5/10 7.7/10
IIFL 7.5/10 7.8/10 7.3/10 7.7/10 7.5/10
Edelweiss 7.3/10 7.5/10 7.7/10 7.3/10 7.3/10
Zerodha 7.7/10 7.3/10 7.7/10 7.5/10 7.7/10
5Paisa 7.9/10 7.5/10 7.8/10 7.3/10 7.3/10
Karvy 7.7/10 7.3/10 7.5/10 7.5/10 7.7/10
Motilal Oswal 7.9/10 7.7/10 7.3/10 7.3/10 7.7/10

The ratings would be updated once the financials and the other details of the IPO are released.


Dangee Dums IPO Grey Market Premium

The Dangee Dums IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.


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Dangee Dums IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

News 2 – Sample ApplicationForm

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