Dynamic Services & Security SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Sep 2021 – 05 Oct 2021
- Listing date
- 13 Oct 2021
- Face value
- ₹10 per share
- Issue price
- ₹51 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹24.13 Cr
- Market cap at offer price
- ₹68.94 Cr
- Promoter holding
- 100.00% → 64.99% pre-issue → post-issue
- ISIN
- INE0DZ701010
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Finshore Management Services Ltd.
- Registered office
- 375, Dakshindari Road, West Bengal
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 2,38,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹51
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,02,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,04,000 |
| S-HNI (max) | 9 | 18,000 | ₹9,18,000 |
| B-HNI (min) | 10 | 20,000 | ₹10,20,000 |
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.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹68.94 Cr |
About Dynamic Services & Security SME
Incorporated as a private limited company on November 22, 2016 and converted into a public limited company on July 13, 2020, Dynamic Services & Security Limited (DSSL) was set up by promoter Jugal Kishore Bhagat (with Rekha Bhagat) to consolidate three family proprietorship firms — M/s. Dynamic Services (founded 2008), M/s. Dynamic Enterprises (founded 2010) and M/s. Global Services (founded 2012) — which were taken over as going concerns via a Business Transfer Agreement dated June 30, 2019, effective March 31, 2019. The company deploys manpower and executes work orders/contracts for mechanized cleaning, catering, housekeeping, conservancy, security, contractual services, supply of goods & services and logistics, serving mainly Indian Railways and other government, semi-government and corporate sectors across India. The merged group's turnover crossed Rs. 100 crores in FY2017-18 and stood at Rs. 118.91 crores (FY19), Rs. 114.13 crores (FY20) and Rs. 70.96 crores (FY21, COVID-impacted); FY2020-21 revenue from operations was Rs. 70.04 crores with profit after tax of Rs. 1.04 crore. As of March 31, 2021 the company had an order book of around Rs. 122 crores and, as of August 31, 2021, 918 employees; it is ISO 9001:2015 and ISO 45001:2018 certified and operates from a registered office in Kolkata, West Bengal.
Company Analysis
from DRHPDynamic Services & Security Limited is a Kolkata-based manpower outsourcing and integrated services company providing mechanized cleaning, housekeeping, conservancy, security, catering, contractual services, goods supply and logistics solutions, catering mainly to Indian Railways and other government, semi-government and corporate clients pan-India — spanning the staffing/facility-management and logistics industries.
Incorporated as a private limited company on November 22, 2016 and converted into a public limited company on July 13, 2020, Dynamic Services & Security Limited (DSSL) was set up by promoter Jugal Kishore Bhagat (with Rekha Bhagat) to consolidate three family proprietorship firms — M/s. Dynamic Services (founded 2008), M/s. Dynamic Enterprises (founded 2010) and M/s. Global Services (founded 2012) — which were taken over as going concerns via a Business Transfer Agreement dated June 30, 2019, effective March 31, 2019. The company deploys manpower and executes work orders/contracts for mechanized cleaning, catering, housekeeping, conservancy, security, contractual services, supply of goods & services and logistics, serving mainly Indian Railways and other government, semi-government and corporate sectors across India. The merged group's turnover crossed Rs. 100 crores in FY2017-18 and stood at Rs. 118.91 crores (FY19), Rs. 114.13 crores (FY20) and Rs. 70.96 crores (FY21, COVID-impacted); FY2020-21 revenue from operations was Rs. 70.04 crores with profit after tax of Rs. 1.04 crore. As of March 31, 2021 the company had an order book of around Rs. 122 crores and, as of August 31, 2021, 918 employees; it is ISO 9001:2015 and ISO 45001:2018 certified and operates from a registered office in Kolkata, West Bengal.
Objects of the Issue
- Meeting working capital requirement Rs. 2,000.00 Lakhs (82.87% of gross issue proceeds) p.50
- General corporate purposes Rs. 370.00 Lakhs (15.33% of gross issue proceeds) p.50
- Public issue expenses Rs. 43.32 Lakhs (1.80% of gross issue proceeds) p.51
Issue Structure
- Total Issue
- 47,32,000 equity shares aggregating to Rs. 2413.32 Lakhs (including Market Maker Reservation Portion of 2,38,000 shares aggregating Rs. 121.38 Lakhs; Net Issue of 44,94,000 shares aggregating Rs. 2291.94 Lakhs)
- Fresh Issue
- Fresh issue of 47,32,000 equity shares at Rs. 51/- per share aggregating to Rs. 2413.32 Lakhs
- Price Band
- Fixed Price Issue at Rs. 51/- per Equity Share (including share premium of Rs. 41/- per share)
- Lot Size
- Minimum lot size of 2,000 equity shares
- Face Value
- Rs. 10/- each
Business Model
Earns contract-based service revenue by deploying manpower and executing work orders/contracts for clients — principally Indian Railways and other government, semi-government and corporate entities — covering mechanized cleaning, housekeeping, conservancy, security, catering, contractual services, supply of goods & services and logistics; the business is labour- and working-capital-intensive, with average outstanding receivable tenure in the range of 3 to 4 months over the past three financial years.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Jugal Kishore Bhagat | Promoter & Managing Director | 48.382% | 31.45% |
| Rekha Bhagat | Promoter & Non-Executive Director | 17.114% | 11.12% |
| Rekha Devi Bhagat | Promoter & Executive Director | 8.526% | 5.54% |
| Destiny Logistics & Infra Limited (erstwhile Destiny Logistic Limited) | Promoter Group | 25.973% | 16.88% |
Leadership
Auto-extracted from the company's DRHP 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 DRHP before relying on it.