Deccan Transcon Leasing IPO booked nearly 4 times on day 1: Check price band, offer size and minimum investment

Deccan Transcon Leasing IPO received bids over 1.66 crore shares against 42.93 lakh shares on offer, leading to an overall subscription of 3.88 times.

The IPO was booked 4.56 times in the retail category with applications for 90.96 lakh shares against 19.92 lakh shares set aside for the segment.

Compared to 8.54 lakh shares allotted for the category, the Non-Institutional Investors applied for more than 32.84 lakh shares, booking their quota 3.84 times.

The Qualified Institutional Buyers (QIBs) portion was booked 2.96 times with applications for 42.93 lakh shares against 14.46 lakh shares reserved for the category.

Deccan Transcon Leasing IPO offer size, price band and minimum investment

Deccan Transcon Leasing Limited IPO is a book-building issue worth ₹65.06 crore. The IPO offer size comprises a fresh issue of 55.24 lakh shares and an offer-for-sale (OFS) portion of 5 lakh shares.

The company's IPO price band has been fixed at ₹102 to ₹108 per share.

For retail investors, the minimum lot size for an application is 1,200 shares, requiring a minimum investment of ₹1,29,600, and for High Net-Worth Individuals (HNIs), the minimum lot size is 2 lots (2,400 shares), amounting to an investment of ₹2,59,200.

Deccan Transcon Leasing IPO dates

The IPO of Deccan Transcon Leasing is open for subscription from September 13 to September 18. The IPO share allotment status is likely to be finalised on September 19.

On September 20, shares will be credited to the Demat accounts of the allottees and refunds will be initiated for the unsuccessful bidders.

Shares of the company are likely to be listed on the NSE SME platform, on Monday, September 23.

Deccan Transcon Leasing IPO registrar

The registrar of Deccan Transcon Leasing IPO is Link Intime India Private Limited while the book-running lead manager is Unistone Capital Private Limited.

The market maker for the company's IPO is Giriraj Stock Broking.

Deccan Transcon Leasing IPO objective

The company plans to use the net proceeds from the public offer for funding the capital expenditure requirements towards procurement of tank containers and the working capital requirements of the company. A portion of the funds will also be used for the general corporate purposes.

About Deccan Transcon Leasing Limited

Founded in February 2007, Deccan Transcon Leasing Limited offers supply chain and logistics solutions, along with leased tank containers to clients across various industries.

The company's services include domestic tank container logistics, tank fleet management, customs clearance, transportation, and Non-Vessel Operating Common Carrier (NVOCC) services, along with comprehensive freight and shipping solutions.