The Initial Public Offerings(IPO) for the week are –
Hariom Pipe Industries Limited-
Hariom pipe manufactures mild steel (MS) pipes, scaffolding, HR strips, MS billets and sponge iron. It uses iron ore to produce sponge iron which is processed to manufacture the final product i.e. MS pipes. The company mainly caters to the Southern and Western markets and its pipes are sold under the brand name ‘Hariom pipes.’
Hariom pipe manufactures MS pipes and scaffolding for more than 150 different specifications and caters directly and indirectly to customer requirements in sectors such as housing, infrastructure, agriculture, automotive, power, cement, mining, solar power and engineering.
The company’s plant in Mahabubnagar district in Telangana manufactures finished steel products from iron scraps and sponge iron. Its other plant at Anantpur district, Andhra Pradesh manufactures sponge iron. Hariom pipe also has a unit located near Bellary to manufacture sponge iron.
The company sells MS pipes through more than 200 distributors and dealers. It sells MS pipes and scaffoldings to developers and contractors directly as B2B sales.
The promoters of the company are Mr. Rupesh Gupta and Mr. Sailesh Gupta. The company proposes to utilize the proceeds of the IPO to fund the working capital requirements, fund the capital expenditure requirements and general corporate purposes.
The company had revenues of Rs 133.59 crore with a net profit of 7.99 crore (Year ended March 31, 2019), revenues of Rs. 160.77 crore with a net profit of Rs. 7.97 crore (Year ended March 31, 2020) and revenue of Rs. 254.13 crore with a net profit of Rs. 15.15 crore (Year ended March 31, 2021).
Dhyaani Tile and Marblez Limited-
Dhyaani Tile and Marblez limited are engaged in the trading of vitrified tiles used for flooring solutions. It commenced operations in 2019 after taking over from previous promoters and prior to this was engaged in the trading of agro commodities. The company’s business are divided into two product categories-
Double charge Vitrified tiles-
These are the tiles that are fed through a press that prints the pattern with a double layer of pigment that is 3 to 4 mm thicker than the other tiles. The process results in a long wearing tile surface that is suitable for heavy traffic commercial projects.
Glazed Vitrified tiles-
Glazed vitrified tiles are the flat slabs manufactured from ceramic materials such as clay, feldspar and quartz and are fired at high temperatures that ensure high strength and low water absorption. Before the firing process the tiles are coated with glaze materials.
The company sells its products through a network of distributors and traders at different locations across the country. It has a network of 40 traders across various states. The promoter of the company is Mr. Chintan Nayan Bhai Rajyaguru. The objects of the issue are to fund the working capital requirements of the company and general corporate purpose.
Dhyaani Tile and Marblez limited had revenues of Rs 9.35 crore with a net profit of 9.76 lacs (Year ended March 31, 2019), revenues of Rs. 7.12 crore with a loss of 7.25 lacs (Year ended March 31, 2020) and revenue of Rs. 14.57 crore with a net profit of Rs. 26.96 lacs (Year ended March 31, 2021).
Eighty Jewellers Limited-
Eighty jewelers limited is a part of the Anopchand Tilokchand group which is a well-known established brand in jewellery since many decades. It has the master franchisee of Anupchand Tilokchand Jewellers Private limited and is involved in trading of various jewelleries, ornaments, watches and luxury articles made of gold, silver, diamonds and platinum studded with precious and semi-precious stones under the B2B model. The products of the company include rings, earrings, armlet, pendants, gajrahs, nose rings , bracelets, chains, necklaces , bangles, watches , luxury items and other wedding jewellery. These products are fit for high-end, mid-market and value market segments.
In 2021, the company entered into a master franchise agreement with Anopchand Tilokchand Jewellers Private limited and has been given rights to open stores in the name of Anopchand Tilokchand Jewellers either directly or through sub franchisee arrangements. Under the B2B business model the company focuses on quality control, inventory management and business development. The company deals in only the jewellery that is certified with BIS Hallmark.
The promoters of the company are Mr. Nikesh Bardia, Mr. Nitin Kumar Bardia and Mr. Tilok Chand Bardia. The objects of the issue are to meet working capital requirements and general corporate purpose.
The company had revenues of Rs. 81.58 crore with a net profit of 1.40 crore (Year ended March 31, 2019), revenues of Rs. 64.53 crore with a net profit of Rs. 2.10 crore (Year ended March 31, 2020) and revenue of Rs. 78.31 crore with a net profit of Rs.4.97 crore (Year ended March 31, 2021).