Deccan Transcon Leasing Limited Announces IPO to Raise Rs 65.06 Crores on NSE Emerge Platform

Deccan Transcon Leasing Limited announces its IPO aiming to raise Rs 65.06 Crores, with shares to be listed on the NSE Emerge platform. The IPO will open on September 13, 2024, and close on September 18, 2024. Funds will be used for working capital, capital expenditures, and fleet expansion.

Deccan Transcon Leasing Limited, based in Mumbai, Maharashtra, has announced the launch of its Initial Public Offering (IPO) on September 13, 2024, aiming to raise Rs 65.06 Crores. The shares will be listed on the NSE Emerge platform.

The IPO consists of up to 60,24,000 equity shares at a face value of Rs 10 each. The allocation includes 30,12,000 shares for Qualified Institutional Buyers (QIB), 9,03,600 shares for Non-Institutional Investors (NII), 21,08,400 shares for Retail Individual Investors (RII), and 3,30,000 shares for Market Makers.

Funds raised will be used for working capital requirements, capital expenditure on Tank Containers, and general corporate purposes. The anchor portion opens on September 12, 2024, and the issue will close on September 18, 2024. Unistone Capital Private Limited will manage the issue, with Link Intime India Private Limited as the registrar.

Jaidev Menon Parath, Chairman & Whole-Time Director, expressed excitement about the IPO, highlighting the company's commitment to expanding operations and service offerings. Brijesh Parekh, Director at Unistone Capital, endorsed the company's strategic use of the proceeds to bolster their service capabilities and drive future growth.

(With inputs from agencies.)