Dangee Dums Ltd Aims to Raise Rs 20.07 crores through SME IPO
Issue opens on 20th August 2018 and closes on 24th August 2018
Ahmedabad, 16th August 2018: Dangee Dums Ltd, the anufacturer of premium and designer cakes and pastries based in Ahmedabad, is set to come out with its Initial Public Offering (IPO) of 27,12,000 (27.12 lakh) equity shares, with a face value of Rs 10 each, at a fixed price of Rs 74 per share. The company operates out of 81 dedicated retail outlets across major cities of Gujarat.
With a view to repay its secured borrowings, in addition to purchase
of fixed assets and addressing general corporate requirements, Dangee Dums Ltd, looks at raising a sum of Rs 20.07 crore through the SME IPO. The IPO will be listed on the National Stock Exchange (NSE)’s EMERGE platform.
The issue will open on 20th August, 2018 and close on 24th August,
2018. The minimum lot size of shares would be 1,600 retail shares. The same for high networth individuals (HNI) would be 3,200 retail shares and further ahead, in multiples of 1,600. The issue comprises of the 26.42% of the post-issue paid-up capital.
Sharing details about the company’s operations, Nikul J Patel,
Chairman and Managing Director of the company, who is also one of the key promoters of the company, said, “Our unique offerings in premium range of cakes and pastries in addition to our strategic expansion, led us to rapidly expand into major cities of Gujarat.”
“All our products are manufactured at our 25,000 square-feet facility located at Devraj Industrial Park in Piplaj, Ahmedabad. We reach out to our customers through our wide distribution network and commitment to quality,” he added.
Commenting on fund utilisation Ravi H. Patel, Whole-time Director,
Dangee Dums Ltd, said “Continuing with our expansion strategy, we are in the process of exploring other markets and widening its footprint outside Gujarat as well.”
“We also intend to open new outlets in the existing markets, to
increase the availability of our products. At the same time, we will
also be focussing on introducing new product lines based on the
requirements and demand of our customers,” he added.
With its wide range of offerings in premium and designer cakes and
pastries in 16-17 different varieties, Dangee Dums Ltd currently
operates across more than 80 outlets spread across five major cities
of Gujarat including Ahmedabad, Gandhinagar, Anand, Vadodara, and Surat. The company has total revenue of Rs 36.58 crore which has increased at the compound annual growth rate (CAGR) of 87.43% over the last five years i.e. in the period from 2014 to 2018.
Ahmedabad Based Merchant Banker Monarch Networth Capital Ltd is a lead manager of this public issue and Bigshare Services Pvt. Ltd is the registrar.
For more details, please contact Ketan Patel, CFO, Dangee Dums @ 8511122260
