Founded in 1951, De Neers Tools Limited is engaged in manufacturing hand tools. The firm sells items including trolleys, tool kits, tool cabinets, spanners, wrenches, pliers, cutters, allen keys, hammers, socketry, and screwdrivers. Tata Steel, Indian Oil, Larsen & Toubro, Assam Petrochemicals, Lohia Corporation, Polycab Cables, Indian Railways, and other companies are among De Neers Tools’ clientele. “De Neers” is the company’s brand name, and it now has over 250 dealers across India. This week, the firm will begin its initial public offering (IPO), and the issue will go public. De Neers Tools IPO registrar is Bigshare Services Pvt Ltd and its lead manager(s) is Khambatta Securities. Here are the 10 key takeaways of De Neers Tools SME IPO that market watchers can know about.
De Neers Tools Details
1. IPO Date: April 28, 2023 to May 3, 2023
2. Listing date: Official announcement has not been made yet but the expected date of listing is May 11, 2023.
3. De Neers Tools face value: ₹10 per share
4. Issue price: ₹95 to ₹101 per share
5. Lot size of De Neers Tools SME IPO: 1200 shares
6. Issue size: 2,276,800 shares (aggregating up to ₹23.00 Cr)
7. Listing at: De Neers Tools is going to be listed on NSE SME
8. Quota: 38.03% for retail category, 36.92% for NII and 25.04% for QIB
9. IPO allotment date: May 8, 2023
10. Credit of shares: May 10, 2023
A R Ramachandran, Co-founder & Trainer-Tips2trades said “De Neers Tools Limited has a strong brand name, excellent clientele and consistent financials but high growth in the past 2 years have been achieved at a very high debt-equity ratio which in the current circumstances could dent valuations in the coming year. Investors should wait post-listing to buy at better valuations.”
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