- Investment Products
- IPOs
- On Door Concepts Ltd
On Door Concepts Ltd IPO
Ondoor is a fast-upcoming regional omni-channel retailer of groceries and household essentials. The Company has advantage of being one of early entrants in the supermarket industry to offer convenience of both the colony stores as well as hyperlocal home delivery through online orders, most of the stores in respective areas fulfill on-line orders from their respective shelves. The online orders that get allocated to the store get fulfilled completely by the store inventory. This is controlled by use of technology that has the real-time visibility of the store inventory. The products shown to consumers on website (www.ondoor.com) and mobile app (Ondoor - Online Grocery Shoppi) are only those products, which are made available in the store mapped to their delivery location.
The Company opened first store at M P Nagar in Bhopal, Madhya Pradesh in January 2015. Thereafter, launched food items like Groceries viz. Sugar, Toor Dal etc.; opened their 1st storehouse at J K Warehouse Complex, Bhopal in 2015. In 2017, it opened 1st store at Indore; opened their 50th Store at Indore in 2018; opened 1st Franchisee store at Indore in 2021.
As of March 31, 2023, the Company operates nearly 55 stores in cities of Madhya Pradesh. Out of 55 stores, the Company Owned and Company Operated (COCO) Stores are 17 and the rest are operated through franchisee model.
Apart from these, the Company classify products falling under the categories like Foods, Non-Foods (FMCG) and General Merchandise. Food category includes staples, groceries, fruits & vegetables, snacks & processed foods, dairy & frozen products, beverages and confectionery. FMCG category includes home care products, personal care and toiletries and other over the counter products. General Merchandise category includes crockery, utensils, plastic goods, pooja items etc.
The Company plan to expand store network in Western, Northern and Central India and extend network to cover certain parts of Southern India in next few years. For each of these regions, it open and operate new stores on a cluster-based approach. It undertake promotion of stores through print media, local radio, door-to-door campaigns and billboards. The advertising strategy promote the 'ONDOOR' brand and not just merchandise or a particular supermarket store or property location, except specifically targeted local advertising around the time of the opening of a new store. It advertises especially on the eve of festivals and certain holidays.
The Company is proposing a Public Issue consisting of 17,84,000 Equity Shares aggregating to Rs 46.20 Crores by raising capital.
Show more
Show less
On Door Concepts Ltd IPO Timeline
On Door Concepts Ltd IPO opens on 23-Oct-2023, and closes on 27-Oct-2023. The On Door Concepts Ltd IPO bid date is from 23-Oct-2023 to 27-Oct-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| On Door Concepts Ltd IPO Opening Date | 23-Oct-2023 |
| On Door Concepts Ltd IPO Closing Date | 27-Oct-2023 |
| Basis of Allotment | 01-Nov-2023 |
| Initiation of Refunds | 02-Nov-2023 |
| Credit of Shares to Demat | 03-Nov-2023 |
| On Door Concepts Ltd IPO Listing Date | 01-Nov-2023 |
On Door Concepts Ltd IPO Lot Size
On Door Concepts Ltd IPO lot size is 600 shares. A retail-individual investor can apply for up to 1 lots (600 shares or 124800).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 600 | ₹124800 |
| Maximum | 1 | 600 | ₹124800 |
On Door Concepts Ltd IPO Details
| On Door Concepts Ltd IPO Date | 23-Oct-2023 to 27-Oct-2023 |
| On Door Concepts Ltd IPO Face Value | Shares of ₹10 per share |
| On Door Concepts Ltd IPO Price | ₹208 per share |
| On Door Concepts Ltd IPO Lot Size | 600 |
| Issue Size | Shares of ₹10 (aggregating up to ₹31.18 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹31.18 Cr) |
| Offer for Sale | - |
| Issue Type | Fixed Price - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | NSB BPO Solutions Pvt Ltd, Narendra Singh Bapna, Pramod Ramdas Ingle. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Augmenting aditional working capital requirements
- 2 General corporate purposes
Company Financials
On Door Concepts Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 114.22 | 233.52 | 6.06 |
| 03-2023 | 90.09 | 180.15 | 12.81 |
| 03-2022 | 77.82 | 173.33 | -5.37 |
| Amount in ₹ Crore | |||
- Ondoor's E-tailing Business.
- Franchisee Model.
- The company, Promoters, and Directors are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties which may adversely affect its business, financial condition and results of operations.
- The company has a history of net losses and its anticipate that may continue in the future.
- The company requires high working capital for the smooth day to day operations of business and any discontinuance or the company inability to procure adequate working capital timely and on favorable terms may have an adverse effect on its operations, profitability, and growth prospects.
- If the company is unable to offer discounted prices constantly according to the pricing strategy, its risk losing the advantage and a substantial portion of the company customers which will adversely affect its business, financial condition and results of operations. Further, in case of shortages, the company suppliers may increase prices of products beyond the control due to which its may lose the competitive advantage.
- If the company is unable to enter into long-term leasehold arrangements or enter into rental agreements at locations suitable for new stores, warehousing or packing centres for the expansion at terms commercially beneficial to it, it may adversely affect the expansion and growth plans.
- The company's inability to manage its inventory effectively and at optimum level in the stores may impact its business and operations adversely.
- The company's ability to attract customers is dependent on the location of the stores and identification of new stores in new locations, in case of improper identification or non-performance of store or franchise partner, the company stores may not achieve expected level of profitability, it will adversely affect its business, financial condition and results of operations.
- If the company is unable to effectively manage the expanded operations or pursue its growth strategy, the company business plan and expansion strategies may not achieve its expected level of profitability which may adversely affect the company business prospects, financial condition and results of operations.
- Its Inability to promptly identify and effectively respond to changing customer preferences and spending patterns in a timely manner, the demand for the products could decrease, among the company customers, which may adversely affect its business.
- The company may not be successful in maintaining and enhancing awareness of the brands. Any fall in the company brand's reputation may adversely affect its business, results of operations and prospects.
- Operational risks are inherent in the company business as it includes rendering services at high quality standards. A failure to manage such risks could have an adverse impact on its business, results of operations and financial condition.
- The company generated a majority of the sales from the stores in Madhya Pradesh and any adverse developments affecting its operations in this state could have an adverse impact on the company revenue and results of operations.
- Inability to manage losses due to fraud, employee negligence, theft or similar incidents may have an adverse impact on it.
- The company has referred to the data derived from internal Company reports and industry and government publications, publicly available information, and sources.
- The company's success depends largely upon the services of the Promoters, Managing Directors and other key managerial personnel and its ability to attract and retain them.
- The company is subject to risks associated with expansion into new geographic regions.
- The company operates in a highly competitive retail market and any increase in competition and its failure to compete effectively may adversely affect the company business, revenue and margin.
- The company do not have definitive agreements or fixed terms of trade with most of the suppliers. Failure to successfully leverage its supplier relationships and network or to identify new suppliers could adversely affect it.
- The company inability to obtain, renew or maintain its statutory and regulatory permits and approvals and other certifications required to operate the business may have a material adverse effect on the results of the company operation and business.
- The company's business relies on the performance of our information technology systems and any interruption or failure to migrate to more advanced systems in the future may have an adverse impact on its business operations and profitability.
- The company technology infrastructure and the technology infrastructure of its third-party providers are susceptible to security breaches and cyber- attacks. This could potentially result in damage to the operations, employees, customers, third-party providers, the company reputation and adversely affect its financial condition, cash flows and results of operations.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the issue. Further the company has not identified any alternate source of financing the 'Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect our growth plans, operations, and financial performance.
- The company relies on the performance of third parties, including third party franchisee Stores, for a portion of its business, and any deficiency in services provided by them could adversely affect the company business and reputation.
- The compay is dependent on third parties for the manufacturing and production of all the products its sell. Any failure of such third parties to adhere to the relevant standards may have a negative effect on the reputation, business and financial condition.
- The company depends on third parties for a major portion of the transportation needs, any disruptions in their services, may adversely affect its operations.
- The company operates the stores from premises that its do not own but are taken by it on leases or on leave and license basis. The company inability to renew the lease/ leave and license agreements or any adverse impact on the title or ownership rights of the landlords in relation to these premises may impede the company operations and may require additional expenditure to move to a new premise.
- The company is dependent upon few suppliers for the material requirements of its trading business.
- If the company fail to acquire new customers or retain existing consumers or fails to maintain average spend per customer, its may not be able to sustain the company revenue base and margins, which would have a material adverse effect on its business and results of operations.
- The sale of the company own brand products subjects us to unique risks and heightens certain other risks.
- There have been instances in the past of litigation due to perceived deficiency in the products the company sell, and its may face potential liabilities in the future from lawsuits or claims from third parties, should they perceive any deficiency in products the company sell, which may adversely impact its business and financial condition.
- The company's business is manpower intensive and a high attrition of skilled and trained manpower, may adversely affect the business.
- The company do not own the Registered Office from which its operate.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
- Any variation in the utilization of the Net Proceeds as disclosed in this Draft Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- The company funding requirements and deployment of the issue proceeds are based on management estimates and have not been independently appraised by any bank or financial institution.
- The Company's management will have flexibility in utilizing the Net Proceeds. There is no monitoring agency appointed by the Company and the deployment of funds is at the discretion of the Management and the Board of Directors, though it shall be monitored by the Audit Committee.
- The company has experienced negative cash flows in the past. Any such negative cash flows in the future could adversely affect its business, results of operations and prospects.
- The company has contingent liabilities as per Ind AS 37 as at March 31, 2023. If any of these actually occur, they may adversely impact its profitability and may have a material adverse effect on the results of operations and financial condition.
- The Company has availed certain unsecured loans from the Promoters and Promoter Group and other entities that are recallable by them at any time.
- The company has not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available on the internet.
- The company has not made any dividend payments in the past and its ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in the financing arrangements.
- The company Insurance cover may be inadequate to protect it fully from all losses and damages which in turn would adversely affect its financial condition and results of operations.
- The company will continue to be controlled by the Promoters after the completion of the Issue.
- The requirements of being a listed company may strain its resources.
- To bring modern trade benefits to the rural and small-town customers
- Omni-channel and convenient purchase experience to urban consumers.
On Door Concepts Ltd IPO Promoter Holding
| Pre Issue Share Holding | 51.50% |
| Post Issue Share Holding | 37.84% |
On Door Concepts Ltd IPO Subscription Status (Bidding Detail)
The On Door Concepts Ltd IPO is subscribed 5.2518 times on Oct 27, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | 5.2518 |
On Door Concepts Ltd IPO Prospectus
On Door Concepts Ltd IPO Listing Date
| Listing Date | 01 Nov 23 |
| BSE Script | 91648 |
| NSE Symbol | ONDOOR |
| Listing In | NSE - SME |
| ISIN | INE00ER01015 |
| IPO Price | ₹208 |
| Face Value | ₹10 |
On Door Concepts Ltd IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
On Door Concepts Ltd IPO Lead Manager(s)
- First Overseas Capital Ltd
FAQs on On Door Concepts Ltd IPO
On Door Concepts Ltd IPO, which opens for subscription from 23-Oct-2023 to 27-Oct-2023 has an issue size of ₹31.18 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for On Door Concepts Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
On Door Concepts Ltd IPO Opens for subscription from 23-Oct-2023 to 27-Oct-2023.
The lot size of On Door Concepts Ltd is 600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹124800 and ₹124800 respectively.
Allotment date for On Door Concepts Ltd is 01-Nov-2023 and refund of application amount (in case allotment is not received) will begin from 02-Nov-2023. If your allotment goes through, then shares will be credited in your Demat account by 03-Nov-2023.
The registrar for On Door Concepts Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.
The shares of On Door Concepts Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Power your investments with our smart trading platforms
For a powerful, stable and secure experience,
download m.Stock App & set up your lifetime Zero brokerage account @ one-time fee of ₹999
-
Scan QR code to download
- OR
-
Enter number to get app link
+91
