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PNN
Mumbai (Maharashtra) [India], September 12: Deccan Transcon Leasing Limited provides end-to-end solutions for freight & shipping services, has announced its plan to go public with an IPO on September 13, 2024, aiming to raise Rs 65.06 Crores, with shares to be listed on the NSE Emerge platform. The issue size is Up To 60,24,000 equity shares at a face value of Rs 10 each. Equity Share Allocation * Qualified Institutional Buyer (QIB) - Up to 30,12,000 Equity Shares * Non-Institutional Investors (NII) - Up 9,03,600 To Equity Shares * Retail Individual Investors (RII) - Up 21,08,400 To Equity Shares * Market Maker - Up 3,30,000 To Equity Shares The net proceeds from the IPO will be utilized for working capital requirements, capital expenditure requirements procurement of Tank Containers and to cover general corporate expenses. The anchor portion will open on September 12, 2024 and issue will close on September 18, 2024. The Book Running Lead Manager to the Issue is Unistone Capital Private Limited, The Registrar to the Issue is Link Intime India Private Limited. Jaidev Menon Parath, Chairman & Whole Time Director, of Deccan Transcon Leasing Limited expressed, "We are delighted to announce our upcoming IPO. This significant milestone represents not just a moment of pride for our company but also a pivotal opportunity for us to expand our operations and enhance our service offerings. With over 884 satisfied customers in the past year alone, our commitment to providing high-quality tank container leasing and comprehensive logistics solutions has been unwavering. The net proceeds from this IPO will be strategically allocated for our working capital, support essential capital expenditures, and enhance our fleet of tank containers. These investments will enable us to meet the growing demands of our diverse client base and continue delivering exceptional value across various sectors, particularly in the transportation of bulk liquids and hazardous chemicals. This IPO will strengthen our operational capabilities and contribute to our long-term growth." Brijesh Parekh, Director of Unistone Capital Private Limited said, we are pleased to support Deccan Transcon Leasing Limited in their forthcoming Initial Public Offering. This IPO marks an exciting chapter for the company, underscoring their growth trajectory and the strong market position they have established in the logistics and tank container leasing sector. Deccan Transcon's extensive expertise in providing end-to-end logistics solutions, including the management of tank containers and Flexi bags, positions them as a key player in the transportation of bulk liquids and hazardous chemicals. Their impressive track record of serving over 884 customers in the past year highlights their operational excellence and commitment to customer satisfaction. The strategic use of IPO proceeds for working capital, capital expenditures, and fleet expansion is a testament to the company's forward-thinking approach and ambition for continued growth. We believe that this IPO will provide the company with the necessary resources to enhance their service capabilities and drive future success. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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