Deccan Health Care listed on SME Platform of BSE

The Net Proceeds will be utilized for Repayment/Prepayment of certain Secured Borrowings availed by the Company

Jan 01, 2019 10:01 IST India Infoline News Service

Deccan Health Care Limited (“Deccan Health Care”), engaged in the business of developing, manufacturing and marketing a broad range of healthcare products including nutraceutical, cosmeceutical and ayurveda products, today got listed on SME Platform of BSE.  .

The Issue was opened for subscription on December 18, 2018 and closed on December 21, 2018, with a price band of Rs. 95 to Rs. 100 per Equity Share of face value of Rs. 10 each of the Company.

The Company came out with an SME IPO with an issue size of Rs.42.12cr. The stock got listed today at Rs 108 hitting the upper circuit as against IPO price of Rs 100. The closing price at the end of the day was Rs. 113.40.

As per data extracted from BSE website, Non Institutional Investor (NII) category was subscribed 2.20 times and Retail category was subscribed 0.86 times, overall IPO was subscribed 1.6 times.

The Net Proceeds will be utilized for Repayment/Prepayment of certain Secured Borrowings availed by the Company, Purchase of Plant & Machinery and related civil work and General Corporate Purposes.

Pantomath Capital Advisors Private Limited is the Book Running Lead Manager to the Issue who has managed 92 SME IPOs and raised more than Rs.1,350cr on SME Exchanges, highest by any Merchant Banker in SME space. Bigshare Services Private Ltd has acted as the Registrar to the Issue.

Mahavir Lunawat – Group Managing Director of Pantomath Advisory Services Group, Ashish Chouhan - MD and CEO – BSE Limited, Ajay Thakur – BSE SME Head, Minto Gupta – Managing Director of Deccan Health Care Limited, Meenakshi Gupta – Whole Time Director of Deccan Health Care Limited, Hitesh Patel – Non Executive Director of Deccan Health Care Limited, Yezdi Batliwala - Chairman and Non-Executive Director of Deccan Health Care Limited were present at the bell ringing ceremony of the Company.

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