Comments
City-based cakes and bakery products maker, Dangee Dums Ltd, is planning to raise Rs 20.07 crore through initial public offering in the SME category.
The issue, to be open during August 20-24, will be listed on the NSE Emerge platform. Monarch Networth Capital Ltd is the lead manager and Bigshare Services Pvt Ltd is the registrar to the issue.
The company plans to utilise the IPO to repay its secured borrowings, in addition to the purchase of fixed assets and for general corporate requirements. The issue consists of 27,12,000 equity shares having a face value of Rs 10 each, at a fixed price of Rs 74 per share. The minimum lot size is 1,600 retail shares. The issue comprises 26.42 per cent of the post-issue paid-up capital.
The company currently has over 80 company-owned outlets across five major cities of Gujarat - Ahmedabad, Gandhinagar, Anand, Vadodara, and Surat.
"We are also planning expansion through franchisee model. We are in the process of exploring other markets and widening our presence outside Gujarat preferably to Mumbai - Maharashtra.” said Mohan Motiani, CEO of the company.
Dangee Dums had posted FY2018 revenues Rs 36.58 crore, growing with a CAGR of 87.43 per cent over the last five years during 2014 to 2018.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.