DollexAgrotech completes its initial public offering on December 15 at Rs 2438.80 lakhs to list on the NSE EMERGE PLATFORM

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Updated: December 16, 2022 5:40 p.m IS

Ahmedabad (Gujarat) [India]Dec 16 (ANI/PNN) – DollexAgrotech Limited, which is engaged in the manufacturing and trading of sugar with self-power CHP capabilities, completes its IPO at Rs 2,438.80 lakhs.
The issue is 6,968,000 shares with a par value of Rs 10 and a price of Rs 35 per share with a lot size of 4000 shares.
It is divided into a new issue of 4,968,000 shares at Rs 10 (total up to Rs 17.39 Cr) and an offer to sell 2,000,000 shares at Rs 10 (total up to Rs 7.00 Cr).
The edition opens on December 15th and ends on December 20th. It will then be listed on the NSE EMERGE platform. Expert Global Consultants Private Limited is the lead manager of the issue and Skyline Financial Services Private Ltd. is the registrar of the issue.
The subject of the edition are:
1. To meet the company’s working capital needs
2. To fulfill general corporate purposes

3. To cover issuance costs
DollexAgrotech Limited was established in 2013 and is engaged in the business of manufacturing and trading sugar with its own cogeneration. The company also produces and sells its by-products such as molasses, pressed and bagasse.
The bagasse is used to generate electricity. In addition, the company is active in power generation up to an internal output of 3 MW. The Company’s product portfolio includes pharmaceutical-grade jaggery powder, sugar, molasses, bagasse, pressed slurry and sugar.
The company has been allocated an area of ​​7,600 hectares by the government to buy the sugar cane products from the farmers. It provides sufficient incentives and assistance at different stages of cultivation, thus ensuring the loyalty of these farmers. In 2018, the company started its sugar production from sugar cane along with combined heat and power plants in Madhya Pradesh.
The Company’s plant is located in Village Erai, Madhya Pradesh with a crushing capacity of 2500 TCD. It has received approval for a 200 kiloliter-per-day distillery, which it intends to build by fiscal 2024. The company is poised for a bright future with supportive government policies for sugar and ethanol.
The company records impressive financial growth every year. Its revenue was Rs.7,962.58 in FY2022 which is Rs.7,748.42 in FY2021 and Rs.2,590.08 in FY2020. Revenue for Q1 FY2023 was Rs 840.81 lakhs.
Its EBITDA was Rs 898.79 lakhs in FY2022, which was Rs 847.09 lakhs in FY2021 and Rs 502.24 lakhs in FY2020; EBITDA was Rs 331.11 lakhs in Q1FY2023. The Company recorded a PAT of Rs.326.90 lakhs in FY2022 which was Rs.167.43 in FY2021 and Rs.57.79 in FY2020; the PAT for Q1FY2023 was Rs 151.26 lakhs.
DollexAgrotech Limited was established in 2013 by Mehmood Khan & Munni Bee Khan and they are the promoters of the issue.
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