WOL 3D India
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 23 Sep 2024 – 25 Sep 2024
- Listing date
- 30 Sep 2024
- Face value
- ₹10 per share
- Issue price
- ₹150 per share
- Lot size
- 1,000 shares
- Listing at
- NSE
- Total issue size
- ₹25.56 Cr
- Market cap at offer price
- ₹96.78 Cr
- Promoter holding
- 89.53% → 65.48% pre-issue → post-issue
- ISIN
- INE0OO201011
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- 18, Ground Floor, Bombay Cotton Mill Estate, Dattaram Lad Marg, Kalachowky, Maharashtra
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 | 4,84,000 | — | — |
| Market maker | 88,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹150
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,50,000 |
| S-HNI (min) | 2 | 2,000 | ₹3,00,000 |
| S-HNI (max) | 6 | 6,000 | ₹9,00,000 |
| B-HNI (min) | 7 | 7,000 | ₹10,50,000 |
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 |
|---|---|---|
| EPS (₹) | 10.07 | 7.80 |
| P/E (×) | 14.90 | 19.23 |
| Price to book (×) | 7.07 | — |
| Market cap | — | ₹96.78 Cr |
Key performance indicators
- Return on net worth
- 47.43%
- ROCE
- 42.50%
- Debt / equity
- 0.54
- PAT margin
- 12.71%
- NAV per share
- ₹21.22
- Price to book
- 7.07
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About WOL 3D India
WOL 3D India Limited, incorporated in 1988 and converted to a public company in January 2023, operates as a 3D printing solutions company aimed at bridging ideation and manufacturing through cost-effective, quality 3D printing technology. The company ventured into the innovative 3D printing business in 2019 and has since developed a comprehensive ecosystem encompassing desktop, industrial, resin, DIY, and multi-color 3D printers; 3D scanners and laser engravers; proprietary 3D pens (with 3 patents); manufacturing of 3D filaments from ABS and PLA plastics; prototyping services (FDM, SLA, SLS); and comprehensive after-sales support. With a manufacturing facility in Bhiwandi accredited with ISO 9001:2015, the company serves diverse sectors including manufacturing, education, engineering, architecture, design, medical, and dental applications. The company distributes international brands like Flashforge, Creality, Bambu Lab, Phrozen, and Elegoo, while maintaining 4 branch offices and 5 franchisee locations across India, selling through experience centers, e-commerce platforms (Flipkart, Amazon, Indiamart, Jiomart), and retail outlets.
Company Analysis
from DRHPWOL 3D India Limited is a 3D printing solutions provider offering hardware (printers, scanners, engravers, pens), consumables (filaments, resins), prototyping services, and after-sales support across manufacturing, education, engineering, healthcare, dental, and design sectors.
WOL 3D India Limited, incorporated in 1988 and converted to a public company in January 2023, operates as a 3D printing solutions company aimed at bridging ideation and manufacturing through cost-effective, quality 3D printing technology. The company ventured into the innovative 3D printing business in 2019 and has since developed a comprehensive ecosystem encompassing desktop, industrial, resin, DIY, and multi-color 3D printers; 3D scanners and laser engravers; proprietary 3D pens (with 3 patents); manufacturing of 3D filaments from ABS and PLA plastics; prototyping services (FDM, SLA, SLS); and comprehensive after-sales support. With a manufacturing facility in Bhiwandi accredited with ISO 9001:2015, the company serves diverse sectors including manufacturing, education, engineering, architecture, design, medical, and dental applications. The company distributes international brands like Flashforge, Creality, Bambu Lab, Phrozen, and Elegoo, while maintaining 4 branch offices and 5 franchisee locations across India, selling through experience centers, e-commerce platforms (Flipkart, Amazon, Indiamart, Jiomart), and retail outlets.
Objects of the Issue
- Repayment in full or in part, of certain of our outstanding borrowings 300.00 lakhs p.79
- Funding to meet working capital requirements p.79
- General Corporate Purpose p.79
Issue Structure
- Total Issue
- 17,04,000 Equity Shares aggregating up to ₹[●] lakhs (amount to be filled)
- Fresh Issue
- 14,52,000 Equity Shares aggregating to ₹[●] lakhs (amount to be filled)
- Offer for Sale
- 2,52,000 Equity Shares aggregating up to ₹[●] lakhs (amount to be filled) by Selling Shareholders: Rahul Virendra Chandalia (70,000 shares), Saloni Rahul Chandalia (1,00,000 shares), Pradeep Shripal Jain (47,000 shares), Swati Pradeep Jain (35,000 shares)
- Price Band
- [●] (to be determined by the Company in consultation with the Book Running Lead Manager)
- Lot Size
- [●] (to be determined)
- Face Value
- ₹10 per Equity Share
Business Model
The company generates revenue through: (1) Sale of imported 3D printing hardware (printers, scanners, engravers) and 3D pens representing approximately 69% of FY23 revenue; (2) Sale of manufactured and imported 3D filaments and resins representing approximately 27% of revenue; (3) Prototyping services involving CAD/CAM design, reverse engineering, and vacuum casting representing 1% of revenue; and (4) Other services including installation, annual maintenance contracts (AMC), training, and after-sales support representing 5% of revenue. The business model leverages both distribution (imported branded products) and backward integration (in-house filament manufacturing) to serve B2B customers (67% of revenue), B2C customers (15%), and e-commerce platforms (18%).
Business Segments
SWOT Analysis
- • Established 3D printing ecosystem with diversified product portfolio(p.111)
- • Strong backward integration through in-house filament manufacturing capability(p.113)
- • Widespread distribution network across India with 4 branch offices and 5 franchisee offices(p.113)
- • Patent registrations for 3D pen designs(p.112)
- • Significant revenue growth trajectory(p.112)
- • Strong profitability with healthy EBITDA margins(p.112)
- • Brand recognition and media coverage through Shark Tank India appearance(p.111)
- • Experienced promoter management team with long-term industry knowledge(p.112)
- • Heavy dependence on imported hardware from China(p.31)
- • Concentration of customer base with top 10 customers accounting for majority of revenue(p.33)
- • Top 10 suppliers constitute 94.63% of purchases, indicating supply chain concentration(p.31)
- • Significant outstanding borrowings of ₹615.70 lakhs as of December 31, 2023(p.39)
- • History of negative cash flows from operations in recent past(p.33)
- • Promoters have provided personal guarantees and pledged properties for company loans(p.44)
- • Low capacity utilization of manufacturing facility at only 28.61% as of December 31, 2023(p.41)
- • Missing historical corporate records with certain RoC filings untraceable(p.34)
- • Expansion of 3D printing market share to 5% of global market targeted by India(p.96)
- • Government initiatives promoting additive manufacturing adoption in India(p.115)
- • Geographic expansion of distribution network across India(p.114)
- • Scale up branding and digital presence to reach wider customer base(p.115)
- • Increase in domestic manufacturing through additional filament extrusion line(p.116)
- • Develop relationships with additional international 3D printer brands for distribution(p.116)
- • Capitalize on growing young population and rising employment in India(p.114)
- • Applications across diverse sectors including healthcare, aerospace, and education(p.112)
- • Supply chain disruptions and long lead times for imported hardware and raw materials(p.31)
- • Volatility in prices of raw materials affecting production costs(p.31)
- • Restrictions on imports that may limit access to key products and materials(p.31)
- • Intense competition from established international and domestic players(p.34)
- • Reliance on limited number of customers for significant portion of revenue(p.33)
- • Dependence on distributor authorization agreements which may not be renewed(p.30)
- • Regulatory and compliance risks including need for Fire NOC and other approvals(p.36)
- • Global economic slowdown affecting international trade and market demand(p.95)
- • Geopolitical risks including conflict between Russia-Ukraine and Middle East instability(p.95)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Rahul Virendra Chandalia | Promoter | 29.00% | — |
| Saloni Rahul Chandalia | Promoter | 20.02% | — |
| Pradeep Shripal Jain | Promoter | 15.47% | — |
| Swati Pradeep Jain | Promoter | 23.47% | — |
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.