Deem Roll Tech IPO: Check Out Price Band, Issue Size & More


by Sandip Das on 20 February 2024,  5 min read


Deem Roll Tech Limited, the manufacturer of steel and alloy rolls, opened its initial public offer (IPO) on February 20, 2024. The company will close the issue on February 22, 2024. The IPO has set the price band at Rs 129 per share, with a face value of Rs 10 per share. The small and medium enterprise (SME) IPO has a fixed price issue of Rs 29.26 crore. The company is issuing an entirely fresh batch of 22.68 lakh shares.

About the Company

Deem Roll Tech Limited, which manufactures steel and alloy rolls, exports its products 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 catered to over 340 domestic customers and 30 export customers. The company operates three manufacturing units: one in Mehsana, Gujarat, the second in Dadpur, Hoogly, West Bengal, and the third in Ahmedabad, Gujarat.

Price Band

The IPO has set the price band at Rs 129 per share. It has a face value of Rs 10 per share.

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Issue Size

The issue comprises solely a fresh allotment of 22.68 lakh shares. Investors have the option to bid for a minimum of 1000 shares and in multiples thereof. For retail investors, there is a requirement to make a minimum investment of Rs 1,29,000. For High Net Worth Individuals (HNI), the minimum lot size investment is 2 lots. It is equivalent to 2,000 shares, amounting to Rs 2,58,000.

IPO Reserve Portion

Retail investors have a reservation of approximately 50 percent of the issue. The remaining portion is reserved for other investors.

Company Financials
Particulars Year Ended March 31, 2023 Year Ended March 31, 2022
Revenue (in lakhs) 10,337.13 9,170.45
Profit After Tax (in lakhs) 692.05 409.78

Objectives of The Issue

The company plans to use the proceeds from the fresh issue to fund capital expenditure for expanding its current manufacturing facility in Mehsana, Gujarat, India. Additionally, we will allocate the funds for meeting working capital requirements and addressing general corporate purposes.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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