De Neers Tools Ltd Share Price – NSE

Trading, Small Cap

De Neers Tools will hold a meeting of the Board of Directors of the Company on 8 November 2023.

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De Neers Tools announced that the 2nd Annual General Meeting (AGM) of the company will be held on 26 September 2023.

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De Neers Tools will hold a meeting of the Board of Directors of the Company on 29 May 2023.

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The scrip was listed at Rs 190, at a premium of 88.12% to the issue price. The scrip hit a high of Rs 190 and a low of Rs 180.50. About 7.86 lakh shares of the company changed hands at the counter.

The initial public offer (IPO) of De Neers Tools was subscribed 15 times. The issue opened for bidding on 28 April 2023 and it closed on 3 May 2023. The IPO price band was issued at Rs 95-101 per share.

The IPO comprised fresh issue of 22,76,400 equity shares, aggregating to Rs 2.27 crore. The promoter and promoter group shareholding diluted to 67.03% post IPO from 91.14% pre-IPO.

The company intends to utilize the net proceeds to meet the working capital requirements of the company, general corporate purpose and to meet the issue expenses.

De Neers Tools provides a very broad range of hand tools in India with approximately two-third of its revenue geographically concentrated in the states of Delhi NCR, Gujarat, Telangana, Bihar & Uttar Pradesh (UP). The company provides range of products which includes spanners, wrenches, pliers, cutters, allen keys, hammers, socketry, screw drivers, tool kits, tool cabinets, trolleys, etc. As on 30 November 2022, the company has total strength of 92 full time employees in various departments.

The company recorded a revenue from operations of Rs 78.98 crore and net profit of Rs 5.04 crore for the period ended on 31 March 2023.

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