Deem Roll Tech IPO opened for subscription on Tuesday, February 20, and closed on Thursday, February 22.
Deem Roll Tech IPO price band was set at ₹129 apiece. Deem Roll Tech IPO lot size consisted of 1,000 shares. Investors could bid for a minimum of 1,000 shares and in multiples thereof.
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Supported by a first-generation businessman and a technocrat, Deem Roll Tech produces premium steel and alloy rolls in India. The company’s rolls are used both domestically and internationally in the rolling mill sectors for steel and iron.
As per the company’s prospectus, its listed peer is Tayo Rolls Limited ( with a P/E (with bonus) of (- 28.43)).
Between March 31, 2022, and March 31, 2023, Deem Roll Tech Limited’s profit after tax (PAT) climbed by 68.88% and revenue rose by 13.42%.
Also Read: Deem Roll Tech IPO: Here’s price band, date, size and other key things to know
Deem Roll Tech IPO details
Deem Roll Tech IPO, which is worth ₹29.26 crore, comprises a fresh issue of 22,68,000 equity shares with a face value of ₹10. This is a completely a fresh issue, and there is no offer-for-sale component.
The company, via an advertisement on Financial Express (FE), notified its investors that it has undertaken a pre-IPO placement of 2,32,000 equity shares at an issue price of ₹129 apiece, aggregating to 299.28 lakhs (pre-IPO placement). The size of the fresh issue is up to ₹3,225 lakhs, which is reduced by ₹299.28 lakhs pursuant to the pre-IPO placement, and the revised size of the fresh issue is ₹29.26 crore.
The company plans to use the funds raised via fresh issue to pay for working capital needs, general corporate purposes, and capital expenditures for the development of its current manufacturing site in Mehsana, Gujarat, India.
The registrar of the Deem Roll Tech IPO is Bigshare Services Pvt Ltd, while the book running lead manager is Fedex Securities Pvt Ltd. Ss Corporate Securities is the market maker for the Deem Roll Tech IPO.
Deem Roll Tech IPO GMP today
Deem Roll Tech IPO GMP or grey market premium is +82. This indicates Deem Roll Tech share price were trading at a premium of ₹82 in the grey market, according to www.investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Deem Roll Tech share price is ₹211 apiece, which is 63.57% higher than the IPO price of ₹129.
Based on last 12 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹25, while the highest GMP is ₹88, according to investorgain.com analysts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: IPOs next week: Six new issues and five new listings to keep primary market busy
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 27 Feb 2024, 10:06 AM IST
