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Dhanuka Realty SME IPO – Details & Review

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Dhanuka Realty has announced its SME IPO and the IPO is opened on 30-Sep for subscription.

Issue Details of Art Nirman  IPO:  

  • IPO Open :  30th Sep to 6th Oct 2016
  • Issue Price: Rs 40 per share
  • Issue Size:  Rs 4.22 crores
  • Minimum Bid – 3000 shares
  • Maximum Bid – 3000 shares
  • Minimum Investment:  Rs 120000
  • Book Running Lead Managers :  Hem Securities
  • Registrar – BigShare Services
  • Listing: The shares will be listed on SME platform of NSE.

Background:

Dhanuka Realty Limited is an integrated real estate development and construction company (incorporated in 2008) primarily focusing on development of various residential projects in Jaipur.

Dhanuka Realty is a part of Dhanuka Group, which is engaged in building residential projects in Jaipur for more than a decade. They have been successful in completing their first residential project, “Sunshine Orchid” comprising of 16 residential flats of 2 BHK with total sq. ft built up area of 20253.18 Sq Ft in the year 2010. As of today company has successfully completed construction of two residential projects namely Sunshine Shalimar and Sunshine Krishna 3 and have two ongoing projects. They subcontract all construction and execution work to third party contractors. They carry overall supervision of construction work on the site including quality control, site management, work scheduling, bar charting, construction time lining etc. and overall progress of work is managed and supervised by their Company.

DRL is part of the Dhanuka Group and Dhanuka Coloniser and Builders Private Limited, Sunshine Kitchens Private Limited, Shri Shyam Realmart Private Limited, Premia Woodtech Private Limited, Sunshine Realmart Private Limited and Sunshine Buildhome Private Limited are its sister concerns.

 

Objective of the issue:

  • Working Capital requirements;
  • General Corporate Purposes;
  • Issue Expenses.

Pros & Cons: Will be updated soon.

Financials:

Track record with revenues growing at 116% CAGR over the last 3 years

Valuation as compared to its peers: Will be updated soon.

Should you invest:   Will be updated soon.

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The author is a Chartered Accountant and loves to write about Personal Finance, Wealth Management, Taxation etc. Disclaimer - The articles on this website is for informational and knowledge purposes and should not be treated as financial advice, Please consult your financial advisor before taking any investment decision.

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