Entrepreneur at Dexter Capital (https://xitter.cf/t.co/l3Y8gX5x9r) & Investor at Dexter Ventures (https://xitter.cf/t.co/Ic9nYOsVyJ)
Bengaluru, India
Joined November 2008
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dkagarwal retweeted
An IAS-IPS couple and their family bought 40 villas and cottages in just two and a half years.
Yet there's barely any outrage or coverage in mainstream media.
Is this the new normal, or what?
dkagarwal retweeted
Ex ओएसडी ऑफ़ सीएम एसीएस शिखर अग्रवाल —— का साम्राज्य देखिए
@IASassociation @IPS_Association @IncomeTaxIndia
dkagarwal retweeted
आप एक महत्वपूर्ण संयोग मिस कर गए अवधेश जी। 27 मार्च 2026, जिस दिन शिखर अग्रवाल के पुत्रो-सास-ससुर के नाम अजबगढ़ रिसोर्ट के करीब 20 लक्ज़री विला की रजिस्ट्री हुई थी।
इसी दिन राजस्थान सरकार आदेश निकालती हैं जिसमे गोयल फैशन प्राइवेट लिमिटेड के अजबगढ़ वाले रिसोर्ट के लिए एक खास आर्थिक पैकेज दिया जाता हैं। इस पैकेज में रिसोर्ट को 10 वर्षों तक स्टेट टैक्स पर 75 प्रतिशत सब्सिडी, 10 वर्षों तक विद्युत शुल्क के भुगतान से 100 प्रतिशत छूट, और राजस्थान इन्वेस्टमेंट प्रमोशन स्कीम के अनुसार अन्य सभी लाभ, जैसे स्टाम्प ड्यूटी में छूट, भूमि रूपांतरण ड्यूटी में छूट, कर्मचारियों की सैलरी में सरकारी अनुदान वैगरह वैगरह सब कुछ होता हैं।
finance.rajasthan.gov.in/PDF…
ये आदेश बोर्ड ऑफ इन्वेस्टमेंट की 6वीं बैठक दिनांक 14.02.2026 में लिए गए निर्णय के अनुपालन में लिया गया था। बैठक की अध्यक्षता माननीय मुख्यमंत्री ने की थी... शिखर अग्रवाल मुख्य प्रशासनिक नीति-निर्धारक और संचालक की भूमिका में थे।
rasonly.com/current-affairs/…
अब ये फार्मूला भी जबरदस्त हैं। जिसमे आप एक प्रॉपर्टी बेचो, फिर उसकी प्रॉपर्टी को आप किराये पर ले लो, और वो भी इतने महंगे दामों में जिसमे 3 साल में ही बेचान से मिली धनराशि किराया देने में खर्च हो जाए।
ये ख़ास सुविधा सिर्फ शिखर अग्रवाल को मिली हैं या सबको देते हैं अनंता रिसोर्ट वाले?
राजस्थान कैडर के सीनियर IAS शिखर अग्रवाल, IPS पत्नी प्रशाखा माथुर, दोनों बेटों और सास-ससुर ने ढाई साल में एक ही कंपनी से खरीदे 40 विला और कॉटेज। ₹6.15 करोड़ में खरीदे, उसी कंपनी को ₹1.80 करोड़ सालाना की लीज पर दिए। 20 विला अजबगढ़, अलवर के अनंता और 20 बुझड़ा, उदयपुर के अनंता रिसॉर्ट में।
#BhaskarInvestigation #MyReport
SFC Environmental Technologies IPO opens today.
SFC provides the process technology and key equipment for municipal sewage treatment plants, selling to the contractors that build them.
The promoters have built SFC into the market leader in sequencing batch reactor (SBR) technology for sewage treatment in India, with over 80% share (F&S report). The core leadership has been with SFC for over 15 years, and its largest external investor bought more shares this month above the IPO cap price, which gives us comfort. It earns EBITDA margins of 29% to 30%, well above water treatment peers, and has an order book of 2.1x FY26 revenue. Its end customers, however, depend on government funding, which shows in weak cash conversion, with receivables at 82.2% of FY26 revenue. We would track SFC for now.
Detailed note can be accessed via -
deltainvest.in/ipo/
We are also building a community for public market investing wherein we share analysis on all IPOs, and other interesting companies. Interested investors are requested to join from the following link - chat.whatsapp.com/Hc34H6pXYV…
6/n
We are also trying out a scorecard that rates every IPO on ten parameters, weighted separately for investors looking for listing gains, the short term and the long term. SFC scores 41.0 out of 100 at the IPO, 51.0 for the short term and 60.0 for the long term. Business quality, management and team are rated very good, while governance, board and auditors are rated average.
7/n
At a market cap of INR 3,233 cr, the IPO asks 20.9x FY26 P/E and 13.4x EV/EBITDA. That is below water treatment companies VA Tech Wabag (26.4x trailing P/E) and Ion Exchange (45.1x), and between STP contractors Enviro Infra (16.3x) and EMS (24.0x).
The grey market premium of 5% points to limited listing gains. We would track SFC for now.
Wiscon Industries’ SME IPO opened today. The Delhi company sells Wiscon brand LED TVs and home appliances, largely to business buyers, and reported FY26 revenue of INR 197 cr.
Over a fifth of its revenue comes from trading another brand’s scooters, and its profits have not translated into cash. Governance is our bigger worry. The RHP leaves gaps around the promoter family’s earlier company, the promoter sold shares at a steep discount months before the IPO, and the board and finance team were put in place only this year.
We would skip the issue for both the short and long term, and with a GMP of 0%, we see no case for listing gains either.
Detailed note can be accessed via - deltainvest.in/ipo/
We are also building a community for public market investing wherein we share analysis on all IPOs, and other interesting companies. Interested investors are requested to join from the following link-
chat.whatsapp.com/Hc34H6pXYV…
7/n
We are also trying out a scorecard that rates every IPO on ten parameters, weighted separately for investors looking for listing gains, the short term and the long term. Wiscon scores 8.1 out of 100 at the IPO, 15.9 for the short term and 8.5 for the long term, with seven of ten parameters rated poor.