Deccan Transcon Leasing IPO: Check GMP And Day 2 Subscription Status
The grey market premium of Deccan Transcon Leasing is Rs 55 as of 9:00 p.m. today, implying a 50.93% gain over the IPO price.
The initial public offer from Deccan Transcon Leasing Ltd. opened for subscription on Friday and will close on Sept. 18. This will be followed by the finalisation of share allotment on Sept. 19.
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.
Deccan Transcon Leasing Ltd. Shares will be tentatively listed on the NSE's SME platform, Emerge, on Sept. 23.
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.
Deccan Transcon Leasing IPO Day 2 Subscription Status
The IPO was subscribed 11.51 times on Monday.
Qualified Institutions: 2.97 times
Non-institutional Buyers: 7.88 times
Retail Investors: 19.26 times.
Deccan Transcon Leasing IPO GMP Today
The grey market premium (GMP) of Deccan Transcon Leasing is Rs 55 as of 09:00 p.m. on Monday, 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.
About Deccan Transcon Leasing Ltd.
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.
Use Of Funds And Objectives
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.
Financial Performance
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.
