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Business News/ Markets / Ipo/  Deem Roll Tech IPO: Here's price band, date, size and other key things to know
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Deem Roll Tech IPO: Here's price band, date, size and other key things to know

The price band of the Deem Roll Tech IPO has been set at ₹129 per share, with a face value of ₹10 per share.

Deem Roll Tech IPO (PTI)Premium
Deem Roll Tech IPO (PTI)

Steel and alloy rolls manufacturer Deem Roll Tech is all set to launch its initial public offerings (IPO) in the upcoming week. The small and medium enterprise (SME) IPO will open for subscription on February 20, 2024 and closes on February 22, 2024.

The price band of the Deem Roll Tech IPO has been set at 129 per share, with a face value of 10 per share. The issue price is 12.90 times of the face value of the equity share.

The SME IPO is a a fixed price issue of 29.26 crores. The issue is entirely a fresh issue of 22.68 lakh shares.

Also read: IPOs next week: Two mainboard, 3 SME public issues to keep primary market busy

“Our company, in consultation with the lead manager, has undertaken a pre-IPO placement of 2,300 equity shares of 129 per equity, aggregating to 299.98 lakhs. The size of the fresh issue is up to 3,225 lakhs, which is reduced 299.28 lakhs pursuant to the pre-IPO placement and the revised size of the issue is 2,925.72 lakhs," the company said in its RHP.

Investors can bid for a minimum of 1000 shares and in multiples thereof. The minimum amount of investment required by retail investors is 129,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to 258,000.

The promoters of the company are Jyoti Prasad Bhattacharya and Dev Jyotiprasad Bhattacharya.

Around 50 percent of the issue is reserved for retail investors and the rest of the issue reserved for other investors.

Also read: Juniper Hotels IPO opens next week. GMP, price, other details of upcoming IPO

The company intends to utilize the proceeds from the fresh issue towards funding capital expenditure towards the expansion of its existing manufacturing facility at Mehsana, Gujarat, India, funding its working capital requirements; and general corporate purposes.

Deem Roll Tech Limited manufactures steel and alloy rolls that are exported to more than 10 countries, including the USA, Germany, Europe, the Middle East, Oman, Saudi Arabia, South Africa, Nepal, and Bangladesh. As of September 30, 2023, the company has served over 340 domestic customers and 30 export customers.

The company has three manufacturing Units one of which is located in Mehsana, Gujarat, the second unit is located in Dadpur, Hoogly, West Bengal and the third unit is located in Ahmedabad, Gujrat. 

The manufacturing unit comprises several sections, including engineering & design, mould making, melting, casting, machining, and dispatch, all of which are supported by related quality testing and assurance equipment.

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Published: 18 Feb 2024, 01:27 PM IST
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