Deccan Transcon Leasing IPO allotment finalised: Latest GMP and how to check status

Deccan Transcon Leasing IPO allotment: Deccan Transcon Leasing's initial public offering (IPO) has been finalised today after overwhelming interest and robust subscriptions.

The SME IPO, valued at ₹65.06 crore, opened for bidding on September 13 and closed on September 19. The price band was set at ₹102-108 per share.

Investors can check the Deccan Transcon Leasing IPO allotment status online through the official portal of the IPO registrar, Link Intime India Private Ltd.

The company will credit the equity shares on September 23 into the Demat accounts of investors who have received the allotment. Refunds for rejected applications will also be processed the same day. Deccan Transcon Leasing IPO is slated to list on NSE SME on Wednesday, September 24, 2024.

How to check IPO allotment status

Step 1: Go to the IPO registrar website of Link Intime.

Step 2: From the selection menu, choose Deccan Transcon Leasing IPO.

Step 3: To discover the current status, pick a mode – click on the PAN, demat account, or application number.

Step 4: Choose “Application Type,” then “ASBA” or “non-ASBA.”

Step 5: Enter the required information, such as your application number, PAN (Permanent Account Number), or Demat Account number.

Step 6: Enter the ‘captcha’ to verify that you are not a robot.

Step 7: Click ‘submit’ to view allotment status.

You can only see the status if you have entered all data correctly.

About the IPO

The Deccan Transcon Leasing IPO is a combination of fresh issue of 55.24 lakh shares aggregating to ₹59.66 crore and offer for sale of 5 lakh shares aggregating to ₹5.40 crore. The minimum lot size for an application was 1,200 shares, and the minimum investment required by retail investors was ₹1,29,600.

The IPO closed with overwhelming demand, with the SME issue subscribed 102.60 times in 3 days of bidding.

The IPO received bids for 44.05 crore shares against the 42.93 lakh shares on offer. The retail investor segment saw a subscription of 127.18 times, while the Non-Institutional Investors (NII) category was booked 147.76 times. The Qualified Institutional Buyers portion was bid 42.07 times.

The Company intends to use the net proceeds from the Offer to support several objectives and capitalize on the benefits of being listed on the NSE Emerge platform of the National Stock Exchange of India Limited. Specifically, the funds will be allocated towards financing capital expenditures for the procurement of tank containers, meeting the company's working capital needs, and addressing general corporate purposes.

Unistone Capital Pvt Ltd is the book-running lead manager of the Deccan Transcon Leasing IPO, while the market maker for Deccan Transcon Leasing IPO is Giriraj Stock Broking.

About the Company

Founded in February 2007, Deccan Transcon Leasing Limited specializes in leasing tank containers and providing logistics and supply chain solutions to clients across various industries. The company delivers a wide range of freight and shipping services, including domestic tank container logistics, tank fleet management, customs clearance, transportation, and Non-Vessel Operating Common Carrier (NVOCC) services.

For the financial year ending March 31, 2024, Deccan Transcon Leasing Limited reported a 15 per cent decline in revenue, while profit after tax (PAT) saw a significant increase of 38 per cent compared to the previous year.

Review

“The company is engaged in providing logistics solutions with specialization in tank containers. It posted inconsistency in its top lines for the reported periods. Boosted profits for FY24 raise eyebrows and concern over its sustainability as it is operating in a highly competitive segment. Based on FY24 earnings, the issue relatively appears fully priced. Well-informed investors may park funds for medium term,” said Dilip Davda of Chittorgarh.com with a ‘may apply’ rating.

Deccan Transcon Leasing IPO GMP today

The IPO's grey market premium (GMP) today is ₹55 per share, indicating an expected listing price of ₹163, a premium of 50.93 percent from its issue price of ₹55. The GMP has been the same since the last 8 sessions, from September 13, but jumped from ₹45 on September 12.