Deem Roll Tech IPO has garnered significant interest from investors, receiving an overwhelming response. By the closing time on Thursday, the ₹29.26-crore SME IPO had been subscribed a remarkable 256 times. The allotment of Deem Roll Tech IPO is scheduled for today, February 23.

If you applied for the IPO, here is how you can check the Deem Roll Tech IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Deem Roll IPO allotment status

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "Deem Roll Tech" from the dropdown menu.
3. Then you can enter your PAN, application number, or Demat.
4. Enter the captcha and click Submit to retrieve the Deem Roll IPO allotment status

If all the details are entered correctly and the allotment has been finalised, the Deem Roll IPO allotment status will be visible.

Deem Roll IPO Subscription Status

The Deem Roll IPO received bids around 55 crore shares against the 21.54 lakh shares on offer. The issue received positive response from retail investor, who oversubscribed the SME IPO by 180.50 43 times, and non-institutional buyers portion was subscribed 311.95 times.

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Deem Roll IPO Details

In terms of investment requirements, retail investors need a minimum of ₹1,29,000, while the minimum lot size for High Net Worth Individuals (HNI) is 2 lots (2,000 shares), amounting to R₹2,58,000.

The stock’s listing on the NSE SME is slated for February 27, 2024. Deem Roll Tech’s IPO consists entirely of a fresh issue of 22.68 lakh shares, priced at Rs 129 per share, with a minimum lot size for an application set at 1,000 shares.

Deem Roll IPO GMP

Market observers note that unlisted shares of Deem Roll Tech are trading ₹61 higher in the grey market compared to its issue price, indicating a 47.29% listing gain expectation. It’s important to understand that while IPO GMPs can offer insights into market sentiment regarding an IPO, they aren’t the sole determinant of the stock’s performance upon listing.

Deem Roll Tech Company Details

The company specializes in manufacturing premium steel and alloy rolls, serving both domestic and international clients in the rolling mill sectors for steel and iron. As of September 30, 2023, Deem Roll Tech has catered to 30 export clients and over 340 domestic clients.

The funds raised through the IPO will be utilized for various purposes, including working capital requirements, general corporate purposes, and capital expenditures for the development of its manufacturing site in Mehsana, Gujarat, India.

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