De Neers Tools Limited IPO

About the Company:

De Neers Tools Limited is a pan-India supplier of industrial tools with an eminent list of clients including Tata Steel, Indian oil, Larsen & Toubro, Assam Petrochemicals, Lohia Corporation, Polycab Cables, Indian Railways, etc.

Products:

Industrial tools including spanners, wrenches, pliers, cutters, Allen keys, hammers, sockets, screwdrivers, tool kits, tool cabinets, trolleys, etc.

Safety tools including non-sparking tools, insulated steel tools, non-sparking insulated tools, stainless steel and magnetic tools, titanium tools, etc.

Business Model :

De Neers Tools Limited supplies its products through an extensive chain of approximately 250 dealerships across India.

IPO details :

IPO subscription dates: April 28 to May 3, 2023

Price: Rs. 95-101 per share

Lot size: 1,200 shares (i.e., Rs. 1,14,000 to Rs. 1,21,200)

IPO Objective:

De Neers Tools Limited intends to utilise the proceeds on:

Working capital requirements

General corporate purposes and issue expenses

Company Financials

Liability Situation

The company does not have any Contingent Liabilities as on the date of filing the RHP.

Major Business-Related Risk

There are no outstanding legal proceedings involving the Company, Promoter, Directors and Group Companies.

How to apply for a Quick IPO on ICICIdirect

• Select IPO

Go to the IPO section, select the IPO you want to apply for from the list, and click on ‘Apply’.

• Fill in the required details

Fill in the number of shares you want to buy. To apply at maximum price, check the cut-off price box and amount is auto-calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on the “Add bid” option.

• Confirm your request

Click on proceed to confirm the order. You can view the placed order under “Order book”. If you are applying using UPI, check the A/C and UPI details before clicking on proceed. You will get a UPI link through which the payment can be made.