Deepak Builders & Engineers IPO Sees Strong Interest from Investors

Deepak Builders & Engineers has launched its initial public offering (IPO), which opened for subscription on Monday, October 21. The IPO is generating significant interest from retail and non-institutional investors (NIIs). The total issue size is Rs. 260.04 crore, with shares priced in the range of Rs. 192 to Rs. 203.

Subscription Details

Today, Wednesday, October 23, is the final day for investors to subscribe to the IPO. The offering consists of a fresh issue of 1.07 crore shares and an offer for sale (OFS) of 21 lakh shares. The funds raised will be used to pay off debt, support working capital needs, and cover general corporate expenses. KFin Technologies Limited is the official registrar for the IPO, while Fedex Securities serves as the lead manager.

Market Performance

As per market sources, the last grey market premium (GMP) for the stock was Rs. 62. With the upper price band set at Rs. 203, the expected listing price is approximately Rs. 265, indicating a potential gain of 30.54%.

Subscription Statistics

By 11:30 AM on the third day of the subscription, the IPO was subscribed 18.10 times, with bids received for 16,23,47,547 shares against the 89,67,061 shares available.

• The retail investor segment was particularly popular; subscribers subscribed 22 times with bids for 9,86,35,264 shares against 44,83,500 shares available.
• The non-institutional investor segment saw an impressive 31.67 times subscription, with bids for 6,08,50,683 shares against 19,21,500 shares.
• The Qualified Institutional Buyer (QIB) segment was subscribed 1.12 times, receiving bids for 28,61,600 shares against 25,62,061 shares offered.

Important Dates

• Final Subscription Deadline: Today at 5 PM
• Share Allotment Date: Expected on Thursday, October 24
• Shares Available in Demat Accounts: Friday, October 25
• Stock Market Debut: Expected on BSE and NSE on Monday, October 28

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Company Profile

Deepak Builders & Engineers India Limited specializes in constructing various projects, including administrative buildings, hospitals, stadiums, residential complexes, and other construction works.