Deluge projects $20m net IPO proceeds, eyes investments and expansion

It also plans to expand its integrated fire detection and protection platform.

Deluge Corporation plans to allocate $9m of its estimated $20.1m in net initial public offering (IPO) proceeds to strategic investments and another $9m to business expansion.

The funds will support acquisitions, joint ventures, selective regional expansion, and larger contracts, and working capital, according to SGX market updates.

Deluge expects to raise $23.4m in gross proceeds from its IPO and cornerstone tranche at an offer price of $0.60 per share.

The group aims to grow recurring revenue through inspection, maintenance, and upgrades for its own and third-party fire safety systems, leveraging its $410.81m order book.

It also plans to expand its integrated fire detection and protection platform through acquisitions and partnerships.

Deluge aims to consolidate Singapore’s fragmented fire protection market, leveraging its 8.3% market share, whilst targeting Malaysian data centre projects for overseas expansion.

The group also plans to invest in infrastructure, facilities, and operational capabilities to improve productivity and support its growing project portfolio.

About 10.6% of the estimated net IPO proceeds will be allocated to infrastructure and operational investments.

This includes expanding off-site prefabrication, which the company said could reduce construction time by up to 60%, lower reliance on on-site labour, and strengthen supply chain resilience.

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