Deem Roll Tech IPO will begin offering on Tuesday, February 20th and will close on Thursday, February 22nd. The price range for Deem Roll Tech IPO is set at . INR129 pieces per piece. Deem Roll Tech IPO lot size consists of 1,000 shares. Investors can bid a minimum of 1,000 shares and multiples thereof.
Backed by first-generation industrialists and technocrats, Deem Roll Tech manufactures high-grade steel and alloy rolls in India. The company's rolls are used in the steel and iron rolling mill sectors at home and abroad.
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Through its network of dealers, distributors and distributors, Deem Roll Tech supplies rolls directly to rolling mill manufacturers (OEMs) and in the exchange market to rolling mills that roll steel. The company exports rolls to more than 10 countries including the United States, Germany, Europe, the Middle East, Oman, Saudi Arabia, South Africa, Nepal and Bangladesh.
As of September 30, 2023, Deem Roll Tech serves 30 export clients and over 340 domestic clients. The percentage of Deem Roll Tech's operating revenue derived from export sales was 17.19%, 20.00%, 16.91% and 16.56% for the six months ended September 30, 2023 and for the fiscal years 2023 and 2022. . , and 2021.
According to the company's prospectus, its listed peer is Tayo Rolls Limited (P/E (with bonus) is (-28.43)).
From March 31, 2022 to March 31, 2023, Deem Roll Tech Limited's profit after tax (PAT) grew by 68.88% and its revenue grew by 13.42%.
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Deem Roll Tech IPO Details
We think Roll Tech IPO is worth it. INRThe 29.26 billion shares consist of new issuance of 2,268,000 par value shares. INR10. This is a completely new issue and there is no sales component.
The company has informed investors through an advertisement on Financial Express (FE) that it has subscribed for a pre-IPO issue of 2,32,000 shares at the issue price. INR129 each, totaling 299,280,000 (pre-IPO issuance amount).The latest issue sizes are as follows INR32.25 million, which is reduced to: INR299.28 million based on pre-IPO issuance amount, revised amount of new issuance amount is INR29.26 billion.
The Company intends to use the proceeds from the new issue for working capital needs, general corporate purposes and capital expenditures for the development of its current manufacturing facility in Mehsana, Gujarat, India.
The registrar for Deem Roll Tech IPO is Bigshare Services Pvt Ltd and the bookrunning lead manager is Fedex Securities Pvt Ltd. Ss Corporate Securities is the market maker for Deem Roll Tech IPO.
Tentatively, Deem Roll Tech's IPO share allotment norms will be completed on Friday, February 23rd and the company will start refunding on Monday, February 26th and the shares will be credited to the demat accounts of allottees on the same day after refunding. The money will be deposited. . Deem Roll Tech's share price is likely to be listed on his NSE SME on Tuesday, February 27th.
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Consider Rolltech's IPO subscription status
Deem Roll Tech IPO subscription status is 4.21 times so far in Day 2. The stock has positive response from retail investors as part of his subscription 6.78 times and non-institutional investors as part of his 1.63 times, as of 12:40. I received it. IST, according to data from chittorgarh.com.
As per chittorgarh.com data, the company received bids for 90,70,000 shares against the offer of 21,54,000 shares as of 12:40 IST.
Deem Roll Tech's IPO application status is 2.29x on the first day.
Today's Rolltech IPO GMP deemed
Deem Roll Tech's IPO GMP or Gray Market Premium is +45, up sharply from +34 yesterday. This indicates that Deem Roll Tech stock is trading at a premium. INRAccording to www.investorgain.com, 45 companies are on the gray market.
Considering the upper end of the IPO price band and the current premium on the gray market, the estimated listing price for Deem Roll Tech stock is: INR174 per piece, 34.88% higher than the IPO price. INR129.
A “gray market premium” indicates that investors are willing to pay more than the issue price.
Deem Roll Tech IPO Review
“The company is committed to manufacturing high-quality steel and alloy rolls that create high demand in view of the drive for infrastructure development and expansion in steel manufacturing.Therefore, bright prospects await the company.24 Based on the year's annual earnings, this stock appears to be fully priced in. The small post-IPO equity base indicates a longer lead time for the move to the main board. Investors may keep modest funds for medium- to long-term rewards,” said Dilip Davda, contributing editor, Chittorgarh.
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Disclaimer: The opinions and recommendations expressed above are those of individual analysts, experts, and brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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