Deccan Transcon Leasing IPO Subscribed More Than 100 Times On Final Day; Check GMP Today

Deccan Transcon Leasing IPO GMP And Final Day Subscription Status: The initial public offer from Deccan Transcon Leasing Ltd. opened for subscription on Friday and closed on September 19.

The issue was subscribed 3.97 times on Day 1, 11.51 times on Day 2, 28.26 times on Day 3 and 39.47 times on Day 4.

The subscription process for initial public offers ending on Sept. 18 had been extended for a day due to a bank holiday in Maharashtra.

The IPO has been subscribed 102.60 times as of 6:16 p.m. on Thursday.

• Qualified Institutions: 42.07 times

• Non-institutional Buyers: 147.76 times

• Retail Investors: 127.18 times

The subscription status will be updated at regular intervals.

The grey market premium (GMP) of Deccan Transcon Leasing is Rs 55 as of 05:00 p.m. on Thursday, implying a 50.93% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 163 per share.

GMP is not an official price quote for the stock and is based on speculation. 

The supply chain and logistical solutions provider aims to raise Rs 65.06 crore through the public offer.

The SME IPO consists of a fresh issue of 55.24 lakh shares aggregating to Rs 59.66 crore and an offer-for-sale component of 5 lakh shares, amounting to Rs 5.4 crore.

The allotment of Deccan Transcon Leasing IPO will be finalised on September 20 and shares of the company will be tentatively listed on the NSE's SME platform, Emerge, on September 24.

The IPO's price band has been fixed between Rs 102 and Rs 108 per share. Retail investors can bid for a minimum lot of 1,200 shares, aggregating to an investment of Rs 1,29,600. 

According to the company’s Red Herring Prospectus, out of the 60,24,000 shares offered - 24.01% is reserved for QIB, 14.18% for Non-institutional investors, 33.08% for retail investors and 23.25% for Anchor investors.

Deccan Transcon Leasing IPO’s book-running lead manager is Unistone Capital Pvt. and the registrar for the issue is Link Intime India Pvt. Deccan Transcon Leasing's IPO market maker is Giriraj Stock Broking Pvt.

Incorporated in Feb. 2007, Deccan Transcon Leasing Ltd. provides logistics and supply chain solutions to clients in various sectors.

The company offers solutions such as domestic tank container logistics, tank fleet management, customs clearance and transportation, and non-vessel operating common carrier services. The company had 84 employees as of July 31, 2024.

Deccan Transcon Leasing plans to use the net proceeds from the public issue to procure tank containers and fund working capital requirements. 

A portion of the proceeds will also be used for general corporate purposes.

Deccan Transcon Leasing’s revenue for FY24 fell nearly 15% to Rs 153.63 crore compared to Rs 180.61 crore in FY23. 

The logistics solutions provider’s profit-after-tax grew more than 38% year-on-year to Rs 11.81 crore in FY24 against Rs 8.55 crore in FY23. 

The company’s net worth increased nearly 59% YoY to Rs 32.21 crore in FY24 against Rs 20.28 crore in the previous fiscal.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.