Dharni Capital Services Limited floats its IPO at Rs 1074 lakhs; Edition opens on January 18, 2023

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Updated: January 16, 2023 7:00 p.m IS

Bangalore (Karnataka) [India], Jan 16 (ANI/PNN) — Dharni Capital Services Limited provides diversified financial services including mutual fund distribution, term deposit distribution, real estate brokerage, technical consulting and outsourcing services. It offers a technology-enabled, comprehensive investment and financial services platform with end-to-end solutions that are critical to the distribution of financial products and has an online and offline presence. The company with a particular focus on financial advisory plans its IPO for 53,70,000 shares to raise Rs 1074.00 lakhs on the BSE platform for SMEs. The founders of the company are Hemant Dharnidharka and Preeti Saraogi.
The par value per share is Rs 1 and the issue price per share will be Rs 20 including a premium of Rs 19 per share. The lot size is 6,000 common shares. Of the 53,70,000 shares offered, 25,50,000 shares are reserved for non-retail investors, 25,50,000 shares are reserved for retail investors and 2,70,000 shares have been reserved within the market maker quota. The issue will open on January 18, 2023 and end on January 20, 2023. It will then be listed on BSE’s SME platform. The underwriter of the issue is Srujan Alpha Capital Advisors LLP.
The net issue proceeds will be used for the following purposes:

1. Investment in a wholly owned subsidiary
2. General purpose of the company
For FY2022 the Company recorded total revenue of Rs 1,469.40 lakhs compared to Rs 255.41 lakhs in FY2021 while total revenue for H1FY23 was Rs 304.95 lakhs. It recorded an EBITDA of Rs 134.34 lakhs in FY2022 compared to Rs 21.90 lakhs in FY2021, while the EBITDA for the first half of FY2023 was Rs 80.55 lakhs. For FY2022 the PAT was 96.58 lakhs compared to 15.26 lakhs for FY2021 while the PAT for H1FY2023 is 58.73 lakhs.
Srujan Alpha Capital Advisors LLP is a SEBI registered Category I commercial banker with offices in Mumbai and Jaipur. The founding partners of the law firm have more than 40 years of combined experience. led by an experienced consulting professional. It follows a long-term commitment and value over a transactional approach.
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