Diksha Greens Limited IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 16, 2022Diksha Greens Limited company started with the object of carrying business in trading of timber, wooden logs, sawn timber as well as manufacturing of veneer sheets. Later in the year 2006 the company obtained Importer-Exporter code (IEC) from Dy. Director General of Foreign Trade, Ministry of Commerce, Government of India and started importing the wooden logs and timber from countries such as Malaysia, Vietnam etc. Diksha Greens Limited IPO comprises of 44,40,000 Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the Diksha Greens Limited IPO release date, IPO offer price, subscription, Diksha Greens Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
- Issue Price of this IPO is Rs 30. Check the Live Share Price here Diksha Greens Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Diksha Greens Limited IPO Review & Ratings
| Diksha Greens Limited IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Diksha Greens Limited IPO
Diksha Greens Limited company started with the object of carrying business in trading of timber, wooden logs, sawn timber as well as manufacturing of veneer sheets.Later in the year 2006 the company obtained Importer-Exporter code (IEC) from Dy. Director General of Foreign Trade, Ministry of Commerce, Government of India and started importing the wooden logs and timber from countries such as Malaysia, Vietnam etc.After getting rich experience in timber business, in the year 2018, the promoters of the company decided to go for further expansion cum diversion of business activity . Diksha Greens Limited IPO comprises of 44,40,000 Equity shares, face value of Rs.10 each.
From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,
From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 0.23% and 32.3%, respectively.
For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 416,342,086 Lakhs, Rs. 541,855,437 Lakhs and Rs. 540,581,486 Lakhs, respectively representing growth of 0.23% from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2017, FY 2016-17 and FY 2015-16 our net profit was Rs.8,154,288 Lakhs, Rs. 8,808,309 Lakhs and Rs. 6,656,925 Lakhs, respectively, representing a growth of 32.31% from the FY 2015-16 to FY 2016-17.
- During the financial year 2017-18 the Other Income of our company decreased to Rs. 1,953,478 Lakhs as against Rs. 2,812,930 Lakhs for the financial year 2016-17 .
- Company’s Net Profit after tax for the year 2016-17 is Rs. 5,505,815 Lakhs from the year 2015-16 of Rs. 6,378,334 Lakhs .
The Promoter of this company is Mr. Rajesh Pirogiwal, Mrs. Sunita Pirogiwal, Ms. Tanvi Pirogiwal and Rajesh Kumar . The lead manager to the issue is Finshore Management Services Limited and the Registrar to this issue is Cameo Corporate Services Limited .
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Diksha Greens Limited IPO Date
The opening and the closing date of IPO of Diksha Greens Limited is Nov 26, 2018 – Nov 28, 2018.
Diksha Greens Limited IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1 – Nov 26, 2018 | – | 0.56x | 0.00x | 0.28x |
| Day 2 – Nov 27, 2018 | – | 1.90x | 0.02x | 1.00x |
| Day 3 – Nov 28, 2018 | – | 1.99x | 0.07x | 1.07x |
| Shares offered to Public | – | 2,108,000 | 2,108,000 | 4,216,000 |
The shares subscribed by the public are updated here.
Diksha Greens Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Diksha Greens Limited IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is Rs 30.
Diksha Greens Limited IPO Equity Share Offering
44,40,000 Equity Shares of Rs 10/- each , for cash at a price of Rs. 30/- per Equity Share aggregating to Rs. 1332.00 Lakhs. The shares are listed at BSE SME with Market lot size or Min Order Quantity of 4000 shares.
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Diksha Greens Limited – Company Overview
Diksha Greens Limited company started with the object of carrying business in trading of timber, wooden logs, sawn timber as well as manufacturing of veneer sheets .Later in the year 2006 the company obtained Importer-Exporter code (IEC) from Dy. Director General of Foreign Trade, Ministry of Commerce, Government of India and started importing the wooden logs and timber from countries such as Malaysia, Vietnam etc.After getting rich experience in timber business, in the year 2018, the promoters of the company decided to go for further expansion cum diversion of business activity.
Having seen the potential of Agri market, the company acquired a state of art multi commodity cold storage located at Village& PO Dwarbasini, District Hooghly-712149, West Bengal, India having capacity of 5000 MT with two pre cooling chambers and reefer vans towards storage of seasonal produce from various parts of the country and abroad.
Competitive Strengths of Diksha Greens Limited :
- Good Knowledge of the market and regulatory environment
- Experienced Management and Promoter
- Quality Assurance
- Leveraging Market Skills and Relationships
- Established relationship with customers and employees
Business strategies of Diksha Greens Limited :
- Focus on Enhancing the Project Execution Capabilities
- Enhancing Operating Effectiveness and Efficiency
- Continue to Build-Up a Professional Organization
- Capture the High Growth Opportunities in the Agriculture and Organic Farming etc.
Diksha Greens 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 and Lakhs) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 2464.58 | 3230.99 | 1850.08 | 2057.95 | 2133.56 |
| Total Revenue | 4182.95 | 5446.68 | 5422.61 | 5424.85 | 5300.53 |
| Total Expense | 4101.41 | 5358.60 | 5356.04 | 5366.25 | 5244.32 |
| Profit After Tax | 55.05 | 63.78 | 45.99 | 40.33 | 38.59 |
Earnings per Equity Share-
| PRE BONUS EPS | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 |
| Basic | 11.16 | 12.93 | 9.32 |
| Diluted | 11.16 | 12.93 | 9.32 |
| POST BONUS EPS | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 |
| Basic | 1.01 | 1.18 | 0.85 |
| Diluted | 1.01 | 1.18 | 0.85 |
From the above statements, one could find that the Diksha Greens Limited may perform well.
Diksha Greens Limited IPO – Promoters
The Promoter of this company are:
- Mr. Rajesh Pirogiwal,
- Mrs. Sunita Pirogiwal,
- Ms. Tanvi Pirogiwal
- Rajesh Kumar
List of Related Parties (Key Managerial Personnel)
- Mr. Rajesh Pirogiwal and Mrs Sunita Pirogiwal
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
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.
Diksha Greens Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Upto 44,40,000 Equity Shares of Rs. 10/- each fully paid-up of our Company for cash at a price of Rs. 30/- per Equity Share aggregating to Rs. 1332.00 Lakhs |
| Of which: | |
| Reserved for Market Makers | Upto 2,24,000 Equity Shares of Rs. 10/- each fully paid-up of our Company for cash at a price of Rs. 30/- per Equity Share aggregating to Rs. 67.20Lakhs. |
| Net Issue to the Public | Upto 42,16,000 Equity Shares of Rs. 10/- each fully paid-up of our Company for cash at a price of Rs. 30/- per Equity Share aggregating to Rs. 1264.80Lakhs. |
| Of which: | |
| Retail Investors Portion | 21,08,000 Equity Shares of Rs. 10 each fully paid-up of our Company for cash at a price of Rs. 30 per Equity Share aggregating to Rs. 632.40lakhs |
| Non-Retail Investors Portion | 21,08,000 Equity Shares of Rs. 10 each fully paid-up of our Company for cash at a price of Rs. 30 per Equity Share aggregating to Rs. 632.40Lakhs |
| Equity Shares outstanding prior to the Issue | 54,27,290 Equity Shares of Rs. 10/- each |
| Equity Shares outstanding after the Issue | 98,67,290 Equity Shares of Rs. 10/- each |
Diksha Greens Limited IPO Issue Object
These are the IPO Issue Objects of the company
- To meet the working requirement of the company
- To meet the Issue Expenses
Diksha Greens Limited 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:
- Established and proven track record
- Leveraging the experience of our Promoters
- Experienced management team and a motivated and efficient work force
- Cordial relations with their customers
- Quality Assurance & Control
The relevant quantitative factors are:
| RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 4.88 | 231.26 |
| 31-Mar-17 | 5.28 | 21.02 |
| 31-Mar-18 | 4.51 | – |
P/E Ratio-
| 31-Mar-18 | |
| PRE BONUS | 2.69 |
| POST BONUS | 29.7 |
Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| Snowman Logistic | 10 | – | – | – | 25.5 |
| Agri-Tech India | 10 | – | 11.9 | – | 182.73 |
| Greenply Industries | 1 | 111.4 | 19.2 | 16.4 | 74.6 |
Diksha Greens Limited IPO Lead Managers
| Lead Managers |
| FINSHORE MANAGEMENT SERVICES LIMITED Anandlok”, Block-A, 2nd Floor, Room No. 207, 227 A.J.C Bose Road, Kolkata-700020, West Bengal Tel No.: +91 – 33 – 22895101 Email: ramakrishna@finshoregroup.com Website: www.finshoregroup.com Investor Grievance Email: info@finshoregroup.com Contact Person: Mr. S. Ramakrishna Iyengar SEBI Registration No: INM000012185 |
Diksha Greens Limited IPO Registrar to offer
| Registrar to the Offer |
| Cameo Corporate Services Limited “Subramanian Building”, #1, Club House Road, Chennai – 600 002, India Telephone: +91-44-40020700, 28460390 Facsimile: +91-44-28460129 Email: investor@cameoindia.com Contact Person: Mr. R.D. Ramasamy, Director Website: www.cameoindia.com SEBI Registration Number: INR000003753 |
Other Details:
- Statutory Auditor – M/s. M Raghunath & Co. Chartered Accountants,
- Peer Review Auditor – M/s. AMK & Associates, Chartered Accountant
- Bankers to the Company – HDFC Bank limited
Diksha Greens Limited IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
Diksha Greens Limited IPO Grey Market Premium
The Diksha Greens Limited 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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Diksha Greens Limited IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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