Who owns and runs the company that is building Dholera?
Who owns the company that is building Dholera
Dholera's first phase is built by one company owned by two governments, and this page tells you who they are, how much each holds, who audits the books and how often the board meets. If you are deciding whether to trust the numbers elsewhere on this site, this is the page that tells you who produced them. DICDL was incorporated on 28 January 2016 and is owned 51 per cent by the State's regional development authority and 49 per cent by a central government trust, as at 31 March 2025. Paid up capital, shareholding, board meetings, auditors and grants are all below with their pages.
Who owns the company
DICDL is a government company: the State's regional development authority holds the majority and a central government trust holds the rest. Both stakes are recorded in shares as well as percentages, which is what allows the equity figures in the monthly proforma to be reconciled exactly.
Capital, shareholding and board quantities
| Quantity | Value | Unit | Date reference | Tag | Source file and page | CK |
|---|---|---|---|---|---|---|
| Authorised share capital | 6 000 | INR crore | at 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p29 (printed p18) | |
| Paid up share capital | 5 683.33 | INR crore | at 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p29 (printed p18) | |
| Equity shares outstanding | 5 68 33 26 531 | shares | at 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p29 (printed p18) | |
| Shareholding dsirda government of gujarat | 51 | percent | at 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p20 (printed p9) | |
| Shareholding nicdit government of india | 49 | percent | at 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p20 (printed p9) | |
| Dividend recommended | 0 | INR lakh | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p29 (printed p18) | |
| Remuneration paid to directors | 0 | INR lakh | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p33 (printed p22) | |
| Independent directors on board | 0 | count | at 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p30 (printed p19) | |
| Board meetings held | 5 | count | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p31 (printed p20) | |
| Company incorporation date | 2016-01-28 | date | 28 January 2016 | OFFICIAL | dicdl_ar25.pdf, p19 (printed p8) | |
| Financial statements authorised for issue date | 2025-08-22 | date | 22 August 2025 | OFFICIAL | dicdl_ar25.pdf, p71 (printed p60) |
The reconciliation is set out on the disagreements and reconciliations page.
Source: DICDL annual report FY2024-25, Board's report and note on share capital.
The board
Directors and key managerial personnel, as printed
| Name as printed | Designation | DIN | Report year | Source |
|---|---|---|---|---|
| Shri S.S. Rathore | Chairman | 00128987 | FY 2023-24 | AR_FY2023-24.pdf, p20 (printed p14) |
| Shri Rajat Kumar Saini, IAS | Director | 10264275 | FY 2023-24 | AR_FY2023-24.pdf, p20 (printed p14) |
| Shri Supreet Singh Gulati, IAS | Managing Director | 07591862 | FY 2023-24 | AR_FY2023-24.pdf, p20 (printed p14) |
| Shri Ashokkumar Khandubhai Patel | Director | 09403694 | FY 2023-24 | AR_FY2023-24.pdf, p20 (printed p14) |
| Shri Pradeep Kumar Agarwal | Director | 01683484 | FY 2023-24 | AR_FY2023-24.pdf, p20 (printed p14) |
| Shri Abhishek Chaudhary | Director | 06817755 | FY 2023-24 | AR_FY2023-24.pdf, p20 (printed p14) |
| Shri Krunal Shah | Chief Financial Officer | BRCPS8132H | FY 2023-24 | AR_FY2023-24.pdf, p20 (printed p14) |
| Shri Dinesh Singh Jhala | Company Secretary | AVKPJ5803B | FY 2023-24 | AR_FY2023-24.pdf, p20 (printed p14) |
| Shri S.S. Rathore | Chairman | 00128987 | FY 2024-25 | dicdl_ar25.pdf, p30 (printed p19) |
| Shri Rajat Kumar Saini, IAS | Director | 10264275 | FY 2024-25 | dicdl_ar25.pdf, p30 (printed p19) |
| Dr. Kuldeep Arya, IAS | Managing Director | 08221535 | FY 2024-25 | dicdl_ar25.pdf, p30 (printed p19) |
| Shri Prabhatkumar Ramanlal Patelia | Nominee Director | 09403694 | FY 2024-25 | dicdl_ar25.pdf, p30 (printed p19) |
| Shri Pradeep Kumar Agarwal | Director | 01683484 | FY 2024-25 | dicdl_ar25.pdf, p30 (printed p19) |
| Smt. Jeeniva Mahapatra | Nominee Director | 07660746 | FY 2024-25 | dicdl_ar25.pdf, p30 (printed p19) |
| Shri Krunal Shah | Chief Financial Officer | BRCPS8132H | FY 2024-25 | dicdl_ar25.pdf, p30 (printed p19) |
| Shri Dinesh Singh Jhala | Company Secretary | AVKPJ5803B | FY 2024-25 | dicdl_ar25.pdf, p30 (printed p19) |
The board met 5 times in the year ended 31 March 2025, on 3 July 2024, 9 September 2024, 5 December 2024, 19 February 2025, 25 March 2025. The report records that the position of independent director remained vacant and that no remuneration was paid to any director.
The dataset carries a warning on this table: the report prints names, designations and identification numbers as three parallel columns, and one identification number appears against a different name elsewhere in the same document. Names and designations are as printed, and the mapping between them is not treated as reliable.
Source: DICDL annual reports, corporate governance section. Names quoted exactly as printed, including honorifics.
Grants, and money spent on obligations
Grants and corporate social responsibility
| Quantity | Value | Unit | Date reference | Tag | Source file and page | CK |
|---|---|---|---|---|---|---|
| Grant received from dsirda | 500 | INR lakh | the year ended 31 March 2024 | OFFICIAL | dicdl_ar25.pdf, p102 (printed p91) | |
| Grant received from dsirda | 1 887 | INR lakh | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p102 (printed p91) | |
| Grant recognised as income or expenditure | 532.43 | INR lakh | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p102 (printed p91) | |
| Csr amount approved to be spent | 80.2 | INR lakh | the year ended 31 March 2024 | OFFICIAL | dicdl_ar25.pdf, p95 (printed p84) | |
| Csr amount approved to be spent | 61.34 | INR lakh | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p95 (printed p84) | |
| Csr amount spent | 26.43 | INR lakh | the year ended 31 March 2024 | OFFICIAL | dicdl_ar25.pdf, p95 (printed p84) | |
| Csr amount spent | 44.84 | INR lakh | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p95 (printed p84) | |
| Csr amount unspent | 16.5 | INR lakh | at 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p95 (printed p84) |
Auditors named in the reports
| Quantity | Value | Unit | Date reference | Tag | Source file and page | CK |
|---|---|---|---|---|---|---|
| Statutory auditor | M/s V.V. Patel & Co., Chartered Accountants | the year ended 31 March 2024 | OFFICIAL | AR_FY2023-24.pdf, p4 | ||
| Statutory auditor | M/s C.P Jain & Co., Chartered Accountants, Ahmedabad | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p6 | ||
| Secretarial auditor | M/s SPANJ & Associates, Company Secretaries, Ahmedabad | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p6 | ||
| Internal auditor | M/s Sandip Desai & Co., Chartered Accountants, Ahmedabad | the year ended 31 March 2025 | OFFICIAL | dicdl_ar25.pdf, p6 |
Source: DICDL annual reports FY2023-24 and FY2024-25, notes and annexures as cited per row.