4,606,800 Equity Shares of De Neers Tools Limited are subject to a Lock-Up Agreement Ending on 15-MAY-2024.
May 14, 2024
Share
4,606,800 Equity Shares of De Neers Tools Limited are subject to a Lock-Up Agreement Ending on 15-MAY-2024. These Equity Shares will be under lockup for 376 days starting from 5-MAY-2023 to 15-MAY-2024.
Details:
Specific written consent has been obtained from the Promoters for inclusion of 17,23,200 Equity Shares for ensuring lock-in of three years to the extent of minimum 20.02% of post issue Paid-up Equity Share Capital from the date of allotment in the public Issue.
Pursuant to Regulation 238(b) and 239 of the SEBI ICDR Regulations, other than the Equity Shares held by our Promoters, which will be locked-in as minimum Promoters? contribution for three years, all pre-issue Equity Shares shall be subject to lock-in for a period of one year from the date of Allotment in this Issue.
De Neers Tools Limited is an India-based company, which is primarily engaged in the business of wholesale trading of hardware tools. The Company is a provider of a range of hand tools in India. The Companyâs range of products includes spanners, wrenches, pliers, cutters, allen keys, hammers, socketry, screw drivers, tool kits, tool cabinets, and trolleys. It also specializes in providing safety tools like non- sparking tools, insulated steel tools, non-sparking insulated tools, stainless steel and magnetic tools, titanium tools along with multiple other hand tools. The Companyâs applications include aerospace, marine, petrochemical, medical, defense, and nuclear industries. It also offers brass, dead blow, claw, copper hammers, forged C-clamps, chisels, center punches in different sizes and types, double-ended, combination, tubular, ring spanners, truck wheel wrenches, hook wrenches, torque wrenches, wire rope cutters and bolt cutters, and aviation cutters.