Deem Roll Tech IPO: Deem Roll Tech- steel and alloy rolls manufacturer will launch its initial public offerings (IPO) tomorrow. The small and medium enterprise’s two-day IPO will close on February 22. The company said, “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.”
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Deem Roll Tech IPO: What is the price band?
The price band has been set at ₹129 per share with a face value of ₹10 per share.
Deem Roll Tech IPO: Details about the IPO?
The IPO is a fixed price issue of ₹29.26 crores and entirely includes a fresh issue of 22.68 lakh shares. Investors can bid for a minimum of 1000 shares and in multiples thereof while the minimum amount of investment required by retail investors is ₹129,000.
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Deem Roll Tech IPO: Who are the promoters?
The promoters are Jyoti Prasad Bhattacharya and Dev Jyotiprasad Bhattacharya.
Deem Roll Tech IPO: How will the company use proceeds?
The company will utilize the net proceeds from the fresh issue towards funding capital expenditure towards the expansion of its existing manufacturing facility in Gujarat. It will also fund working capital requirements and general corporate purposes.
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Deem Roll Tech IPO: What you should know about the company?
The company exports steel and alloy rolls to more than 10 countries, including the US, Germany, Oman, Saudi Arabia, South Africa, Nepal, and Bangladesh. It has three manufacturing units- two in Gujarat and one in West Bengal.
