De Neers Tools Limited

28 Apr 2023 - 03 May 2023 Individual Category SME IPO NSE

Min Investment

₹228000

Price Band

₹95-₹101

Issue Size

22.76 lakhs
Equity Shares

Lot Size

1200 (per lot)

IPO Dates
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28 Apr 2023

Open Date

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03 May 2023

Close Date

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08 May 2023

Allotment Date

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11 May 2023

Listing Date

The company is coming out with a maiden IPO of 2276400 equity shares of Rs. 10 each via book building route to mobilize around Rs.23 cr. The company has announced a price band of Rs. 95 - Rs. 101 per share and at the upper cap, it mulls raising Rs.  23.00 cr. The issue opens for subscription on April 28, 2023, and will close on May 03, 2023. The minimum application to be made is for 1200 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on NSE SME Emerge. The issue constitutes 26.45% of the post-issue paid-up capital of the company. DNTL is spending Rs. 0.50 cr. for this IPO process and from the net proceeds, it will utilize Rs. 18.00 cr. for working capital and the rest balance for general corporate purposes. It has allocated 49.92% for QIBs, 15.05% for HNIs and 35.04% for Retail investors excluding the market maker portion of 5.06%.  Khambatta Securities Ltd. and Share India Capital Services Pvt. Ltd. are the joint lead managers and Bigshare Services Pvt. Ltd. is the registrar of the issue.

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About De Neers Tools Limited

De Neers Tools Ltd. (DNTL) was originally promoted as De Neers Tools LLP and it took over Deewan Chand Madanlal & Sons as a going concern in June 2021. This merged firm was converted into a public limited company as of July 26, 2021. The company sells its products under the "De Neers" brand.  DNTL is among the few key players in the hand tool industry as per the industry report of CareEdge. It provides a very broad range of hand tools in India with approximately two-thirds of revenue geographically concentrated in the states of Delhi NCR, Gujarat, Telangana, Bihar & Uttar Pradesh (UP). Its extensive range of products includes spanners, wrenches, pliers, cutters, Allen keys, hammers, socketry, screwdrivers, tool kits, tool cabinets, trolleys, etc. The company is also specialized in providing safety tools like non-sparking tools, insulated steel tools, non-sparking insulated tools, stainless steel & magnetic tools, titanium tools along with multiple other hand tools.  DNTL's focus is on producing tools that can stand up to the demands of the professionals who use them every day. De Neers is widely accepted by dealers/distributors, and hardware suppliers throughout India. At present, the company has approximately 250 dealers throughout India and also looking for export possibilities. As of November 30, 2022, it had 92 employees on its payroll. 

Founded

1952

Managing Director

Neeraj Kumar Aggarwal and Shilpy Aggarwal

Parent Organization

IPO Objectives

The proceeds from the issue will be used for the following objects: 1. To meet the working capital requirements of the company.2. For general corporate purposes and to meet the issue expenses.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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