Dolphin Rubbers IPO – Review, Allotment, Subscription, GMP Price, Date & more

Dolphin Rubbers IPO comprises of a Public Issue of 20, 00,000 Equity shares. The company is engaged in manufacturing of Auto and Animal Driven Vehicle (ADV) tubes supporting the tyre industry near Ludhiana (Punjab).

Let’s have a detailed review of the company and analytics of the Dolphin Rubbers IPO release date, IPO offer price, subscription, Dolphin Rubbers IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Dolphin Rubbers IPO Review & Ratings

Dolphin Rubbers IPO Ratings & Review
Criteria Ratings
Industry Sentiments  6.3/10
Industry Ranking  6.3/10
Company Background 6.8/10
Company Reputation 6.4/10
Competitive Edge 6.8/10
Financial Statements 6.5/10
Popularity Index 6.8/10
Promoters Reputation 6.3/10
Retail Appetite  6.8/10
Top Brokers Review 6.5/10
Overall Ratings  6.6/10
Star Ratings ★★★☆☆

Summary of Dolphin Rubbers  IPO

Dolphin Rubbers IPOThe Company is engaged in manufacturing of Auto and Animal Driven Vehicle (ADV) tubes supporting the tyre industry near Ludhiana (Punjab). The range of rubber tubes, suitable for tyres of various types of vehicles viz., Mopeds, Scooters, Motorcycles, Cars, Jeeps, Buses, Trucks and Tractors with the use of Butyl rubber. The Issue comprises of a Public Issue of 20, 00,000 Equity shares of face value of Rs.10.00 each fully paid (the “Equity Shares”) for cash at a price of Rs.26.00 (including a premium of Rs.16.00 per Equity Share) aggregating to Rs.520.00 lakhs.

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 89.71% and 51.45%, respectively.

The revenue from operations for the financial year ending 2014-15, 2015-16 and 2016-17 were Rs. 3249.33 lakhs, Rs. 4083.37 lakhs, and Rs.4301.26 lakhs. The company has achieved revenue from operations of Rs. 4217.70 lakhs as on January 31, 2018

  • The Net Worth of the Company as on January 31, 2018 is Rs.719.48 lakhs, as on March 31, 2017 was Rs. 616.56 lakhs, as on March 31, 2016 was Rs. 547.01 lakhs and Rs. 494.20 lakhs as on March 31, 2015
  • Net Profit after tax in the last 3 years as per restated accounts were Rs. 67.33 lakhs in F. Y. 2014-15, Rs. 52.81 lakhs in F. Y. 2015-16 and Rs. 69.56 lakhs in F.Y. 2016-17. The Net profit after tax during financial year 2016-17 shows an increase of 31.72% over the previous financial year.

The Promoter of this company is Mr. Kawaljit Singh and Ratinder Kaur. The lead manager to the issue is GUINESS CORPORATE ADVISORS PRIVATE LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.


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Dolfin Rubbers Industries IPO Date

The opening and the closing date is 27 Sept 2018 – 3 Oct 2018.


Dolfin Rubbers Industries IPO Subscription

Day / Date NII RII Total Subscription
Day 1: 27 Sept 2018 0.25x 0.03x 0.14x
Day 2: 28 Sept 2018
Day 3: 1 Oct 2018
Day 4: 3 Oct 2018
Shares Offered or Net Issue 948,000 948,000 1,896,000

 


Dolphin Rubbers IPO Allotment Status

Here, you can find the Allotment Status of this IPO. The Issue is being made through the Fixed Price Process wherein up to 20,00,000 Equity Shares shall be reserved for Market Maker upto 1,04,000 and 18,96,000 for the net public issue. 


Dolphin Rubbers IPO Price Band

The face value of each share is Rs 10, at a price of Rs. 26/- per Equity Share.


Dolphin Rubbers IPO Equity Share Offering

20,00,000 Equity Shares of Rs 10/- each with the Issue Price of Rs. 26 including the premium of Rs.16, so it will be aggregated to Rs 520.00 lakhs.


Dolphin Rubbers Limited – Company Overview

Dolphin Rubbers Private Limited was incorporated on October 12, 1995 and they started journey of manufacturing tubes in the year 1997. Their registered office is located at Sarabha Nagar, Ludhiana- 141001, Punjab and they carry out the production through our state-of-the-art manufacturing unit situated at V illage Gaunspur, Humbran-·141102, Ludhiana, Punjab.

The Company is engaged in manufacturing of Auto and Animal Driven Vehicle (ADV) tubes supporting the tyre industry near Ludhiana (Punjab).

The Company is promoted by KAWALJIT SINGH AND RATINDER KAUR, who have engaged in the business of tube manufacturing for more than twenty years and over a period of time have developed skills in producing the best quality products which has helped the Company to create its presence in the domestic market.

Competitive Strengths of Dolphin Rubbers Limited:

  • Experienced Management Team and a motivated and efficient workforce
  • Quality Assurance of our Products.
  • Wide Product Range.
  • PAN India distribution network.
  • Long standing relationship with distributors.
  • Well established brand.

Business strategies of Dolphin Rubbers Limited:

  • Strengthening of product portfolio and developing capabilities to manufacture a variety of products.
  • Focus on consistently meeting quality standards and strengthening our brand.
  • Strengthening relationship with existing distributors.
  • Enhance customer base by entering new geographies to establish long term relationships.
  • Optimal Utilization of Resources.

Dolphin Rubbers 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-Jan-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 1814.92 1651.05 1261.86 1298.04 1588.87 1402.92
Total Revenue 4220.09 4308.65 4092.37 3255.34 2856.57 2503.22
Total Expense 4090.94 4190.43 3984.95 3173.37 2774.34 2430.72
Profit After Tax 102.91 69.56 52.81 67.33 56.83 50.01

Earnings per Equity Share (in INR & Lakhs)

31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Basic / Diluted  1.86 1.26 0.96 1.22 1.03

From the above statements, one could find that the Dolphin Rubbers Limited may perform well.


Dolphin Rubbers IPO – Promoters

The Promoter of this company are:

  1. Kawaljit Singh
  2. Ratinder Kaur

List of Related Parties (Key Managerial Personnel)

  • Celespreet Kaur
  • Nancy Singla

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.


Dolphin Rubbers IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered Issue of 20,00,000 Equity Shares having face value of Rs. 10.00 each at a price of Rs.26.00 per Equity Share (including a share premium of Rs. 16.00 per Equity share) aggregating Rs.520.00 lakhs
 Of which:
 Reserved for Market Makers Issue of 1,04,000 Equity Shares having face value of Rs.10.00 each at a price of Rs.26.00 per Equity Share aggregating Rs. 27.04 lakhs
 Net Issue to the Public Issue of 18,96,000 Equity Shares having face value of Rs.10.00 each at a price of Rs.26.00 per Equity Share aggregating Rs.492.96 lakhs
 Of which:
 Retail Investors Portion 9,48,000 Equity Shares having face value of Rs.10.00 each at a price of Rs.26.00 per Equity Share aggregating Rs.246.48 lakhs will be available for allocation to Retail Individual Investors
 Non-Retail Investors Portion 9,48,000 Equity Shares having face value of Rs.10.00 each at a price of Rs.26.00 per Equity Share aggregating Rs.246.48 lakhs will be available for allocation to Retail Individual Investors
 Equity Shares outstanding prior to the Issue 55,22,496 Equity Shares of Rs 10/- each
 Equity Shares outstanding after the Issue 75,22,496 Equity Shares of Rs 10/- each

Dolphin Rubbers IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding of working capital requirements of the Company
  • General Corporate Purpose
  • Issue Expenses

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Dolphin Rubbers 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 Management Team and a motivated and efficient workforce
  • Quality Assurance of our Products.
  • Wide Product Range.
  • PAN India distribution network.
  • Long standing relationship with distributors.
  • Well established brand.

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%)
31-Mar-15 1.22 13.62
31-Mar-16 0.96 9.65
31-Mar-17 1.26 11.28
  • NAV in Rs.
Particulars Rs.
As on March 31, 2017 11.17
As on January 31, 2018 13.03
  •  Industry P/E Ratio:
Particulars P/E ratio
P/E ratio based on the Basic & Diluted EPS, as restated for FY 2016-17 20.63
P/E ratio based on the Weighted Average EPS, as restated 22.54

 


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Dolphin Rubbers IPO Lead Managers

Lead Managers
HEM SECURITIES LIMITED

904, A Wing, 9th Floor Naman Midtown, Senapati Bapat Marg,
Elphinstone Road Mumbai-400 013, India.
Tel : 022 4906 0000; Fax: 022 2262 5991
Email:
Investor Grievance Email:
Contact Person: Radhika Soni
Website: www.hemsecurities.com
SEBI Registration number: INM000010981

Dolphin Rubbers IPO Registrar to offer

Registrar to the Offer
BIGSHARE SERVICES PRIVATE LIMITED

1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis
Makwana Road, Marol, Andheri East, Mumbai – 400059
Tel No.: 022-62638200, Fax No.: 022-62638299;
Website: www.bigshareonline.com
Email: ;
Contact Person: Srinivas Dornala
SEBI Registration No.: INR000001385


Other Details:

  • Statutory Auditor –Goyal Sanjay & Associates.
  • Peer Review Auditor –A. Bafna& Co.
  • Bankers to the Company –  YES Bank Ltd.

Dolphin Rubbers 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

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


Dolphin Rubbers IPO Grey Market Premium

The Dolphin Rubbers IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.


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Dolphin Rubbers IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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