Deccan Transcon Leasing IPO Debuts with a Modest 7.4% Premium on NSE SME

Mumbai, September 24, 2024 – Shares of Deccan Transcon Leasing, a company specializing in logistics and tank container leasing solutions, made their market debut today on the NSE SME platform, listing at ₹116 per share. This opening price marks a 7.4% premium over its issue price of ₹108, signaling a cautious yet positive market reception for the company’s IPO.

The IPO, which was launched to raise approximately ₹65.06 crore, included a fresh issue of 55.24 lakh shares and an offer for sale worth ₹5.40 crore. This initial public offering was met with significant interest from investors, as evidenced by its subscription figures, which saw the issue being subscribed 96.27 times overall, with particular enthusiasm from retail and non-institutional investors.

Deccan Transcon Leasing’s business model focuses on providing comprehensive logistics solutions, including tank container leasing, which caters to the transportation of bulk liquids and hazardous chemicals. The company’s network spans globally, allowing it to address the logistics needs of clients worldwide through its subsidiaries and partnerships.

The funds raised from this IPO are earmarked for capital expenditure towards the procurement of tank containers, enhancing working capital, and general corporate purposes. This capital infusion is expected to bolster the company’s capacity to serve its growing client base efficiently.