Jakarta, December 19, 2024 – PT Daya Intiguna Yasa Tbk (“MDIY”), better known by the brand MR.DIY, on Thursday (19/12/2024) officially listed its shares on the Indonesia Stock Exchange (IDX). The shares with the issuer code MDIY began trading along with the listing of shares today.
The largest household appliance retail company in Indonesia has set the Initial Public Offering (IPO) price at IDR 1,650 per share. MDIY issued 2,519,039,400 (two billion five hundred nineteen million thirty-nine thousand four hundred) shares from the portfolio. This amount represents 10% of the Company's total issued and fully paid-up capital after the IPO, consisting of 1% new shares issued by MDIY and 9% shares owned by Azara Alpina Sdn. Bhd. as the selling shareholder. Thus, the total funds raised from this IPO reached IDR 4.15 trillion.
As stated in the prospectus, the funds raised by MDIY from this IPO will be focused on supporting the opening of new stores and expanding the network to further strengthen MDIY's presence in the domestic retail market. In addition, the funds will also be used as operational working capital to ensure smooth operations and support sustainable business growth.
Based on Frost & Sullivan data, the non-grocery retail segment in Indonesia has a Total Addressable Market (TAM) of USD 18.4 billion. This segment is projected to grow at a CAGR of 8% in the 2023–2028 period, driven by economic growth, urbanization, population growth, and increasing community income. With a market penetration of 1.9% in 2023, MR.DIY sees a great opportunity to expand its market share amidst this positive momentum.
The Company is in a strong position to capitalize on the opportunities of macroeconomic growth and the increasingly complex dynamics of Indonesia's population. With a growing population and dynamic consumption patterns, MR.DIY sees a great opportunity to meet the needs of people from various economic backgrounds.
"We believe that with an inclusive and efficient approach, MR.DIY is able to become the main solution for Indonesian families in meeting their daily household needs at affordable prices," said President Director of MR.DIY Indonesia, Edwin Cheah.
He emphasized that the company's focus is not only on one segment of society, but also on creating wider access for customers throughout Indonesia.
One of MR.DIY's main strengths is its efficient and adaptive operational strategy. The company consolidates large orders from its entire network of stores, thus achieving significant economies of scale. This approach not only improves operational efficiency, but also allows the company to provide quality products at more competitive prices, while maintaining healthy profit margins. On the other hand, optimizing management through product supply management.
In addition, MR.DIY continues to drive sustainable expansion by reaching new areas, including small cities evenly. This strategy aims to bring MR.DIY products closer to more customers, while supporting local economic growth.
"We are committed to staying relevant to dynamic market needs. By continuing to improve efficiency and expand our reach, MR.DIY is ready to strengthen its position as a leader in the non-grocery retail market, especially in the household appliances sector," added Edwin.
This strategy also provides a solid foundation to support dynamic growth as demand increases and MR.DIY's store network expands to various regions. The impact can be seen in the company's revenue growth during the period 2021 to 2023, which increased at a CAGR of 109%, from IDR 894 billion to IDR 3.9 trillion.
In the same period, the company's net profit turned from a loss of IDR 80 billion to a profit of IDR 353 billion. In the first semester of this year, MR.DIY Indonesia posted revenue of IDR 3.21 trillion, up 93% year-on-year (YoY), with a net profit of IDR 532 billion, up 228% (YoY) compared to the same period the previous year.
