Shlokka Dyes Ltd IPO

The IPO opens on 30 Sept 2025 & closes on 14 Oct 2025.

Shlokka Dyes Limited was incorporated on July 09, 2021, as a Private Limited Company as 'Shlokka Dyes Private Limited' with the Registrar of Companies, Ahmedabad. Subsequently, Company was converted to Public Limited Company w.e.f. November 11, 2024. The Company started production from FY 2022-23 and is presently engaged in the business of manufacturing of 'Reactive Dyes', a category of Synthetic Organic Dyes extensively utilized in the textile industry. Reactive Dyes are available in primary colors such as black, blue, red, orange, and yellow, along with numerous variants of these shades, each identified by an internationally recognized Color Index Number. These dyes are suitable for a broad spectrum of textile applications, including cotton fabrics, garments, dress materials, bed sheets, and carpets. With their versatile applications and superior quality, dyes provide reliable solutions to meet the diverse needs of clients across various industries. The manufacturing facility, in the state of Gujarat, holds ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management) and ISO 45001:2018 (Occupational Health & Safety) certification in the manufacturing of Dyes and Intermediates. This manufacturing facility situated at Dist. Bharuch together with construction of factory shed/building of about 5731.81 sq. metre. It boasts a robust installed capacity of 9000 MT per annum, to meet diverse client demands effectively. The Company launched a fresh issue of 6,350,400 equity shares of face value of Rs 10, by raising Rs 57.79 crores through IPO in October, 2025.

Shlokka Dyes Ltd IPO will close on 14 Oct 2025.

<ul><li>Quality Assurance.</li><li>Experienced Promoters with sound market knowledge.</li><li>An integrated production processes.</li><li>Locational Advantage.</li><li>Cordial relations with Customers.</li><li>Committed to High-Quality, Versatile Products with International Certifications.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Vaibhav Shah</td> <td>9034700</td> <td>60</td> <td>9034700</td> <td>42.2</td> </tr> <tr> <td>2</td> <td>Shivani Rajpurohit</td> <td>6022948</td> <td>40</td> <td>6022948</td> <td>28.13</td> </tr> <tr> <td>3</td> <td>Pravinaben Shah</td> <td>100</td> <td>---</td> <td>100</td> <td>---</td> </tr> <tr> <td>4</td> <td>Shivlal Rajpurohit</td> <td>100</td> <td>---</td> <td>100</td> <td>---</td> </tr> </tbody> </table>

<ul><li>The ccompany has not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of equipment / machineries. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment / machineries in a timely manner, or at all, the same may result in time and cost over-runs.</li><li>Its Manufacturing Units are subject to inspection under the GPCB.</li><li>The company has a limited operating history in manufacturing.</li><li>Its operations are hazardous and could expose the company to the risk of liabilities, loss of revenue and increased expenses.</li><li>The company is subject to strict compliance of the quality and use of it products. Any deviation of the quality not as per the specification of the customers may harm its reputation and/or have an adverse impact on the company sales, revenue and profitability.</li><li>The company operate in a heavily regulated sector which requires strict compliances and its operations are subject to environmental, health and safety Regulations.</li><li>A shortage or non-availability of utilities like electricity, fuel or water may adversely affect its manufacturing operations and have an adverse effect on the company business, results of operations and financial condition.</li><li>Its success is based on the efficient working of Testing Laboratory and Research & Development section.</li><li>The company business depends on its manufacturing facility and the loss of or shutdown of the company manufacturing unit on any grounds could adversely affect its business or results of operations.</li><li>Its may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect its operations, business growth and financial results.</li><li>The Company is dependent on a few suppliers for purchases of product/service. The loss of any of these large suppliers may affect its business operations.</li><li>The company is dependent on third party transportation service providers for delivery of raw materials from suppliers to it and delivery of finished products to its customers and business associates. Any failures on part of such transport service providers to meet their obligations could have a material adverse effect on its business, financial condition and results of operation.</li><li>Its revenue from operations is dependent upon a limited number of customers and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on its business, financial condition, results of operations and cash flows.</li><li>Its business is highly dependent on technology and any disruption or failures of its technology systems may affect the company operations.</li><li>The proprietorship company Viz Equinox Impex is engaged in the same line of activity.</li><li>Any fluctuations in prices of raw materials or shortage in supply of raw material for manufacturing its products, could adversely impact the company business.</li><li>The company has not entered into long-term contracts with its major customers and the company operates on the basis of purchase orders, which could adversely affect its revenues and profitability.</li><li>Its insurance coverage may not be sufficient or adequate to protect us against all material hazards, which may adversely affect its business, results of operations, financial condition and cash flows.</li><li>Its international operations are subject to many uncertainties and the company is exposed to foreign currency exchange rate fluctuations.</li><li>The company has been converted in to public limited Company on November 11, 2024, any non- compliance with the provisions of Companies Act, 2013 may attract penalties against the Company which could impact its financial and operational performance and reputation.</li><li>The requirements of being a public listed company may strain its resources and impose additional requirements.</li><li>There have been instances of delay in filing of Provident Fund (PF) returns, Goods and Service Tax returns (GST) and return of Tax Deducted at Source (TDS) dues.</li><li>The company has not deducted and deposited Provident Fund (PF) and Employees State Insurance (ESI) amount with the Authorities.</li><li>Its Registered office and factory premises are on long lease basis from GIDC.</li><li>The company avails credit facilities from the State Bank of India, as per sanction terms there are certain restrictive covenants imposed on the issuer company.</li><li>The Company, its Promoters, its directors and its group Companies are involved in litigation proceedings that may have a material adverse outcome.</li><li>Its Promoters/Directors have issued personal guarantees and/or mortgaged their property in relation to debt facilities availed by it, which if revoked, may requires alternative guarantees, repayment of amounts due or termination of the facilities.</li><li>Its Promoter and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.</li><li>The company is required to obtain, renew or maintain statutory and regulatory permits, licenses and approvals to operate its business and the company manufacturing facility, and any delay or inability in obtaining, renewing or maintaining such permits, licenses and approvals could result in an adverse effect on its results of operations.</li><li>The Company does not have intellectual property rights over its corporate logo.</li><li>The company is dependent upon the experience and skill of its promoter, management team and key managerial personnel and senior management personnel. Loss of its Promoter or the company inability to attract or retain such qualified personnel, could adversely affect its business, results of operations and financial condition.</li><li>Its may not be able to successfully manage the growth of the company operations and execute its growth strategies which may have an adverse effect on its business, financial condition, results of operations and future prospects.</li><li>The company operates in a competitive business environment. Competition from existing players and new entrants and consequent pricing pressures may adversely affect its business, financial condition and results of operations.</li><li>The company has experienced negative cash flows in previous years / periods. Any operating losses or negative cash flow in the future could adversely affect its results of operations and financial condition.</li><li>Its business is working capital intensive involving relatively long implementation periods. The company requires substantial financing for its business operations. The company indebtedness and the conditions and restrictions imposed on by its financing arrangements could adversely affect the company ability to conduct its business.</li><li>The average cost of acquisition of Equity Shares held by its Promoters is lower than the Issue Price.</li><li>Its Promoters, Directors and Key Managerial Personnel may have interest in the Company, other than reimbursement of expenses incurred or remuneration.</li><li>The company has unsecured loans from promoters, directors and their relatives, which are repayable on demand. Any demand from lenders for repayment of such unsecured loans, may adversely affect its liquidity and business operations.</li><li>The company has entered into certain transactions with related parties. These transactions or any future transactions with its related parties could potentially involve conflicts of interest.</li><li>There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.</li><li>The company has not identified any alternate source of financing the 'objects of the Issue'. If the company fails to mobilize resources as per its plans, the company growth plans may be affected.</li><li>Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.</li><li>Delay in raising funds from the IPO could adversely impact the implementation schedule.</li><li>The company has not independently verified certain data in this Draft Red Herring Prospectus.</li><li>Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and have not been independently appraised and may be subject to change based on various factors, some of which are beyond its control.</li><li>Any future issuance of Equity Shares may dilute the shareholding of the Investor or any sale of Equity Shares by its Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.</li><li>The issue price of the Equity Shares may not be indicative of market price of its equity shares after the issue and the market price of the company Equity shares may decline below the issue price.</li><li>Sale of shares by its promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.</li><li>Its future funds requirements, in the form of fresh issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.</li><li>There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE in a timely manner or at all.</li><li>The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.</li><li>There are restrictions on daily weekly monthly movement in the price of the equity shares, which may adversely affect the shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in time.</li><li>Company has filed the Draft Red Herring Prospectus dated January 16, 2025 with the SME Exchange of BSE Limited. Our Company has withdrawal the filed DRHP due to not received No objection certificate (NOC) for the Issue from our lender Bank namely State Bank of India.</li><li>We have not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of equipment / machineries. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment / machineries in a timely manner, or at all, the same may result in time and cost overruns.</li><li>Our Manufacturing Units are subject to inspection under the Gujarat Pollution Control Board. Inspection proceedings are undertaken by the GPCB for our manufacturing plant at regular intervals for inspection in respect of the Discharge of Treated Effluent & Emission.</li><li>We have a limited operating history in manufacturing. We may be unable to understand the nuances of the industry given our short operating history, particularly demand and supply trends and customer trends.</li><li>Our operations are hazardous and could expose us to the risk of liabilities, loss of revenue and increased expenses. These hazards can cause personal injury and loss of life, severe damage to and destruction of property and equipment, environmental damage and may result in the suspension of operations and the imposition of civil and criminal liabilities.</li><li>We are subject to strict compliance of the quality and use of our products. Any deviation of the quality not as per the specification of the customers may harm our reputation and/or have an adverse impact on our sales, revenue and profitability.</li><li>We operate in a heavily regulated sector which requires strict compliances and our operations are subject to environmental, health and safety Regulations. if we breach or fail to comply with these laws and regulations, penalties or fines may be imposed on us, notice for closure of the until may also receive from authorities and our directors and officers responsible for such breach or non-compliance.</li><li>There have been instances of delay in filing of Provident Fund (PF) returns, Goods and Service Tax returns (GST) and return of Tax Deducted at Source (TDS) dues.</li><li>We have not deducted and deposited Provident Fund (PF) and Employees State Insurance (ESI) amount with the Authorities. Non-compliance with statutory obligations may lead to financial penalties, which could materially impact our cash flows, financial condition, and profitability.</li><li>We have experienced negative cash flows in previous years / periods. Any operating losses or negative cash flow in the future could adversely affect our results of operations and financial condition.</li><li>Our success is based on the efficient working of Testing Laboratory Section. we cannot be sure that in future our Testing Section work efficiently and delivered good results/ performance.</li><li>Our Company, its Promoters, its directors and its group Companies are involved in litigation proceedings that may have a material adverse outcome.</li><li>A shortage or non-availability of utilities like electricity, fuel or water may adversely affect our manufacturing operations and have an adverse effect on our business, results of operations and financial condition.</li><li>Our Company has filed following RoC forms and returns with factual inaccuracy and irregularly.</li><li>Our business depends on our manufacturing facility and the loss of or shutdown of our manufacturing unit on any grounds could adversely affect our business or results of operations.</li><li>We may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect our operations, business growth and financial results. if we fail to identify suitable replacements of our departed staff, our business and operation could be adversely affected.</li><li>A significant portion of our operations and revenue is concentrated in the state of Gujarat. high dependency on a single geographic region exposes our business to significant regional risk.</li><li>The Company is dependent on a few suppliers for purchases of product/service. The loss of any of these large suppliers may affect our business operations</li><li>We are dependent on third party transportation service providers for delivery of raw materials from suppliers to us and delivery of finished products to our customers and business associates. Any failure on part of such transport service providers to meet their obligations could have a material adverse effect on our business, financial condition and results of operation.</li><li>Our revenue from operations is dependent upon a limited number of customers and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on our business, financial condition, results of operations and cash flows.</li><li>Our business is highly dependent on machineries and any disruption or failure of our machineries mayaffect our operations.</li><li>The proprietorship firm Viz Equinox Impex is engaged in the same line of activity. conflicts of interests can arise on account of common suppliers / customers and in allocating business opportunities amongst our Company and our Promoter Group entity.</li><li>Any fluctuations in prices of raw materials or shortage in supply of raw material for manufacturing our products, could adversely impact our business.</li><li>We have not entered into long-term contracts with our major customers and we operate on the basis of purchase orders, which could adversely affect our revenues and profitability.</li><li>Our insurance coverage may not be sufficient or adequate to protect us against all material hazards, which may adversely affect our business, results of operations, financial condition and cash flows.</li><li>Our international operations are subject to many uncertainties and we are exposed to foreign currency exchange rate fluctuations. We have not entered into any hedging arrangements to account for any adverse changes to the foreign currency exchange rate.</li><li>Our company has been converted in to public limited Company on November 11, 2024, any non-compliance with the provisions of Companies Act, 2013 may attract penalties against our Company which could impact our financial and operational performance and reputation.</li><li>The requirements of being a public listed company may strain our resources and impose additional requirements.</li><li>Our Registered office and factory premises are on long lease basis from GIDC. IF we don't comply with the any of the terms and conditions of the Lease Agreement, we may require to vacate the registered office and factory premises.</li><li>Our company avails credit facilities from the State Bank of India, as per sanction terms there are certain restrictive covenants imposed on the issuer company.</li><li>Our Promoters/Directors have issued personal guarantees and/or mortgaged their property in relation to debt facilities availed by us, which if revoked, may require alternative guarantees, repayment of amounts due or termination of the facilities.</li><li>Our Promoter and members of the Promoter Group will continue jointly to retain majority control over our Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.</li><li>We are required to obtain, renew or maintain statutory and regulatory permits, licenses and approvals to operate our business and our manufacturing facility, and any delay or inability in obtaining, renewing or maintaining such permits, licenses and approvals could result in an adverse effect on our results of operations.</li><li>Our Company does not have intellectual property rights over its corporate logo.</li><li>We are dependent upon the experience and skill of our promoter, management team and key managerial personnel and senior management personnel. Loss of our Promoter or our inability to attract or retain such qualified personnel, could adversely affect our business, results of operations and financial condition.</li><li>We may not be able to successfully manage the growth of our operations and execute our growth strategies which may have an adverse effect on our business, financial condition, results of operations and future prospects.</li><li>We operate in a competitive business environment. Competition from existing players and new entrants and consequent pricing pressures may adversely affect our business, financial condition and results of operations.</li><li>Our business is working capital intensive involving relatively long implementation periods. We require substantial financing for our business operations. Our indebtedness and the conditions and restrictions imposed on by our financing arrangements could adversely affect our ability to conduct our business.</li><li>The average cost of acquisition of Equity Shares held by our Promoters is lower than the Issue Price.</li><li>Our Promoters, Directors and Key Managerial Personnel may have interest in our Company, other than reimbursement of expenses incurred or remuneration.</li><li>We have unsecured loans from promoters, directors and their relatives, which are repayable on demand. Any demand from lenders for repayment of such unsecured loans, may adversely affect our liquidity and business operations.</li><li>We have entered into certain transactions with related parties. These transactions or any future transactions with our related parties could potentially involve conflicts of interest.</li><li>We have not identified any alternate source of financing the `Objects of the Issue'. If we fail to mobilize resources as per our plans, our growth plans may be affected.</li><li>Our ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.</li><li>Delay in raising funds from the IPO could adversely impact the implementation schedule.</li><li>We have not independently verified certain data in this Red Herring Prospectus.</li><li>Our funding requirements and proposed deployment of the Net Proceeds are based on management estimates and have not been independently appraised and may be subject to change based on various factors, some of which are beyond our control.</li><li>Any future issuance of Equity Shares may dilute the shareholding of the Investor or any sale of Equity Shares by our Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.</li><li>The issue price of the Equity Shares may not be indicative of market price of our equity shares after the issue and the market price of our Equity shares may decline below the issue price.</li><li>Sale of shares by our promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.</li><li>Our future funds requirements, in the form of fresh issue of capital or securities and/or loans taken by us, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.</li><li>There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE in a timely manner or at all.</li><li>The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.</li><li>There are restrictions on daily weekly monthly movement in the price of the equity shares, which may adversely affect the shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in time.</li></ul>

The Issue type of Shlokka Dyes Ltd is Book Building - SME.

The minimum application for shares of Shlokka Dyes Ltd is 2400.

The total shares issue of Shlokka Dyes Ltd is 6350400.

Initial public issue of up to 63,50,400 equity shares of face value of Rs. 10/- each of Shlokka Dyes Limited ("S D L" or the "Company" or the"Issuer") for cash at a price of Rs. 91 per equity share including a share premium of Rs. 81 per equity share (the "Issue Price") aggregating to Rs. 57.79 ("the Issue"), of which 3,24,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs.91 per equity share including a share premium of Rs. 81 per equity share aggregating to Rs. 2.95 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of 60,26,400 equity shares of face value of Rs. 10/- each at a price of Rs. 91 per equity share aggregating to Rs.54.84 crores is herein after referred to as the "Net issue". The issue and the net issue will constitute 29.66 % and 28.15 % respectively of the post issue paid up equity share capital of the company.