DMR Hydroengineering SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 24 Nov 2021 – 29 Nov 2021
- Listing date
- 07 Dec 2021
- Face value
- ₹10 per share
- Issue price
- ₹21 per share
- Lot size
- 6,000 shares
- Total issue size
- ₹2.09 Cr
- Market cap at offer price
- ₹7.83 Cr
- Promoter holding
- 98.97% → 72.46% pre-issue → post-issue
- ISIN
- INE07L501010
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- H.No.-473, Sector-30, Haryana
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 54,000 | — | — |
Application size
Minimum 6,000 shares per lot, in multiples, at ₹21
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 6,000 | ₹1,26,000 |
| S-HNI (min) | 2 | 12,000 | ₹2,52,000 |
| S-HNI (max) | 7 | 42,000 | ₹8,82,000 |
| B-HNI (min) | 8 | 48,000 | ₹10,08,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹7.83 Cr |
About DMR Hydroengineering SME
DMR Hydroengineering & Infrastructures Limited, incorporated in December 2009 and converted to public limited company in January 2019, is an engineering consultancy firm offering full lifecycle project services including design & engineering, due diligence & regulatory, bid management & construction engineering, and quality & inspection for hydropower, dams, roads and railway tunnels. The company operates domestically across 11 states and internationally in over 5 countries including Nepal, Nigeria, Dubai, Germany and Senegal. For FY2021, FY2020 and FY2019, exports contributed 29.31%, 33.80% and 9.52% respectively of total revenues.
Company Analysis
from RHPDMR Hydroengineering & Infrastructures Limited provides engineering consultancy and due diligence services to hydropower, dams, roads and railway tunnel projects across India and internationally.
DMR Hydroengineering & Infrastructures Limited, incorporated in December 2009 and converted to public limited company in January 2019, is an engineering consultancy firm offering full lifecycle project services including design & engineering, due diligence & regulatory, bid management & construction engineering, and quality & inspection for hydropower, dams, roads and railway tunnels. The company operates domestically across 11 states and internationally in over 5 countries including Nepal, Nigeria, Dubai, Germany and Senegal. For FY2021, FY2020 and FY2019, exports contributed 29.31%, 33.80% and 9.52% respectively of total revenues.
Objects of the Issue
- Funding Working capital requirements ₹97.21 lakhs p.20
- General Corporate Purpose ₹33.52 lakhs p.20
- Funding working capital requirements Rs 97.21 lakhs p.68
- General corporate purposes Rs 33.52 lakhs p.68
- Not specified in this document section
Issue Structure
- Total Issue
- ₹209.16 lakhs
- Fresh Issue
- ₹167.58 lakhs (7,98,000 equity shares)
- Offer for Sale
- ₹41.58 lakhs (1,98,000 equity shares by Subhash Chander Mittal)
- Lot Size
- 6,000 equity shares and in multiples of 6,000 thereafter
- Face Value
- ₹10 per equity share
Business Model
The company earns revenue from providing engineering consultancy and due diligence services across the complete lifecycle of infrastructure projects covering design & engineering, due diligence & regulatory work, bid management & construction engineering, and quality & inspection services.
Business Segments
SWOT Analysis
- • Established presence across multiple states and international markets(p.19)
- • Significant international revenue contribution(p.19)
- • Comprehensive service offerings across project lifecycle(p.19)
- • Zero debt and strong balance sheet(p.21)
- • Experienced and stable promoter management(p.27)
- • Geographical presence across domestic and international markets(p.89)
- • Comprehensive service portfolio across entire project lifecycle(p.88)
- • Experienced management team with significant industry tenure(p.89)
- • Established presence in diversified sectors(p.90)
- • Quality certifications and professional accreditations(p.90)
- • Established presence across multiple states and international markets(p.157)
- • Diversified service offerings across entire project lifecycle(p.157)
- • Strong profitability with improving margins(p.157)
- • Strong net worth and positive working capital position(p.154)
- • ISO certifications demonstrating quality management standards(p.175)
- • Experienced promoters with over 20 years in industry(p.157)
- • Debt-free balance sheet(p.168)
- • Heavy dependence on top customers(p.28)
- • Substantial outstanding receivables with significant aging(p.29)
- • Past instances of regulatory non-compliance and statutory filing delays(p.28)
- • Lack of adequate gratuity provisions(p.28)
- • Heavy reliance on promoter knowledge and involvement(p.27)
- • Past history of negative cash flows(p.26)
- • Limited employee capacity to handle additional assignments(p.92)
- • Heavy dependence on few key clients(p.93)
- • Quality assurance gaps in documentation processes(p.93)
- • Insufficient systematic assignment management strategy(p.93)
- • No insurance coverage obtained for business risks(p.94)
- • Heavy dependence on small number of customers(p.167)
- • Relatively small size with limited capital base(p.177)
- • Limited employee base and potential talent retention risks(p.158)
- • Flat revenue growth recently(p.162)
- • Growing infrastructure sector demand in India(p.19)
- • Expansion into new geographic regions and customer segments(p.29)
- • Technology upgradation and digitalization of operations(p.31)
- • Working capital financing through IPO proceeds(p.20)
- • Strategic market position in hydropower, dams, roads and railway tunnels(p.19)
- • Expand international presence to new markets(p.90)
- • Increase employee base to scale up project capacity(p.90)
- • Expand service offerings into PMC and QC services(p.93)
- • Broaden service portfolio into new engineering disciplines(p.91)
- • Expand client base in tunnelling sector(p.93)
- • Growth in Indian engineering and R&D market(p.85)
- • Growing international revenue contribution(p.157)
- • Expansion into new hydropower and infrastructure projects(p.157)
- • Capacity to extend services across roads and railway tunnels(p.157)
- • Economic downturn and reduced infrastructure spending(p.26)
- • COVID-19 and other pandemic impacts on business operations(p.37)
- • Foreign exchange volatility affecting exports(p.31)
- • Competitive pressure in infrastructure consultancy sector(p.30)
- • Regulatory changes and policy uncertainty(p.39)
- • Infrastructure quality and logistics challenges in India(p.38)
- • Inflation impacting cost structures(p.39)
- • Retention challenges for key experienced personnel(p.92)
- • Cyber security vulnerabilities and IT infrastructure reliability(p.93)
- • Limited budgets available for business scaling(p.93)
- • Delayed receipt of payments from clients(p.93)
- • Global economic slowdown impact on infrastructure spending(p.88)
- • Competition from both organized and unorganized market players(p.91)
- • Intense competition from organized and unorganized players(p.158)
- • Dependence on government policies and regulatory changes(p.158)
- • Vulnerability to seasonal and weather fluctuations(p.158)
- • Economic sensitivity and market cyclicality(p.158)
- • Price competition pressure from competitors(p.158)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Subhash Chander Mittal | Promoter | 43.99% | 34.61% |
| Neelam Mittal | Promoter | 43.99% | 34.61% |
| Subhash Chander Mittal | Promoter | 43.99% | 29.25% |
| Neelam Mittal | Promoter | 43.99% | 34.57% |
| Divay Mittal | Promoter Group | 5.50% | 4.32% |
| Deepika Mittal | Promoter Group | 5.50% | 4.32% |
| Subhash Chander Mittal | Promoter | 43.99% | 29.25% |
| Neelam Mittal | Promoter | 43.99% | — |
| Subhash Chander Mittal | Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.