Deem Roll Tech Ltd share price made a great debut on the NSE SME today. Deem Roll stock price of NSE SME started with his. INR200, 55% higher than the issue price INR129. However, after starting in positive territory, Deemroll’s stock price fell into the red.
Deem Roll Tech IPO began offering on Tuesday, February 20th and closed on Thursday, February 22nd.
Deem Roll Tech IPO price range has been set below INR129 pieces per piece. The lot size for Deem Roll Tech IPO was 1,000 shares. Investors can bid a minimum of 1,000 shares and multiples thereof.
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Also read: Deem Roll Tech IPO allocation completed today.Steps to check the latest GMP, Deem Roll IPO allocation status
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.
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%.
Also read: Deem Roll Tech IPO: Here’s the price range, date, size and other important things to know
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 problem and there is no sales element.
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, for a total of 299,280 million (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 through the new issue for working capital needs, general corporate purposes and capital expenditures for the development of its current manufacturing site in Mehsana, Gujarat, India.
The registrar for Deem Roll Tech IPO is Bigshare Services Pvt Ltd and the lead manager on book is Fedex Securities Pvt Ltd. Ss Corporate Securities is the market maker for Deem Roll Tech IPO.
Also read: Deem Roll Tech IPO continues to show strong demand from retail investors on third day. Increase in GMP
Today’s Rolltech IPO GMP deemed
Deem Roll Tech IPO GMP or Gray Market Premium is +82. This indicates that Deem Roll Tech stock is trading at a premium. INRAccording to www.investorgain.com, there are 82 companies in 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’s stock is: INR211 pieces each, 63.57% higher than the IPO price. INR129.
Based on gray market activity over the past 12 sessions, IPO GMP is on the uptrend today, with expectations for a solid listing. The lowest GMP is INR25, the highest GMP is INR88, according to analysts at investorgain.com.
A “gray market premium” indicates that investors are willing to pay more than the issue price.
Also read: Next week’s IPOs: 6 new issues and 5 new listings keep primary market buzzing
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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