Deepak Builders and Engineers IPO: Deepak Builders and Engineers India launches its IPO today, price band is ₹192 to ₹203. The company aims to raise funds from various investors, having already secured ₹78.01 crore from institutional backers. The subscription period is from October 21 to 23rd 2024.
Among the biggest investors in this IIPO are Neomile Growth Fund, which paid ₹30 crore for 14.77 lakh shares, and Citadel Capital Fund, which paid ₹20 crore for 9.85 lakh shares. A total of ₹28 crore was invested by Saint Capital Fund, Zeal Global Opportunities Fund, and Elite Capital Fund in exchange for 13.8 lakh shares.
With a face value of ₹10 per, the IPO price range for Deepak Builders and Engineers India is ₹192 to ₹203 per equity share. The Deepak Builders and Engineers India IPO subscription period is set to run from Monday, October 21 to Wednesday, October 23.
The Deepak Builders and Engineers initial public offering (IPO) has set aside a minimum of 35% of the offer for retail investors, a maximum of 50% of the shares for qualified institutional buyers (QIBs), and a minimum of 15% for non-institutional institutional investors (NIIs).
Founded in September 2017, Deepak Builders and Engineers India Limited specialises in developing hospitals, stadiums, residential complexes, and other construction projects in addition to administrative, institutional, and industrial structures. Architectural, structural, civil, MEP, firefighting, public health, IT, operation theatre, medical gas pipeline, and landscaping turnkey projects have all been successfully managed by the company.
Deepak Builders and Engineers IPO Subscription Status
The initial public offer of Deepak Builders IPO has been subscribed 1.57 times on the first day of subscription today, at 12:27 IST, as per BSE data.
The initial share sale received bid for 1,40,82,430 shares against 89,67,061 shares on offer, according to BSE.
The portion for retail investors received 2.64 times subscription while the quota for non-institutional investors got subscribed 1.16 times. The qualified institutional buyers (QIBs) part is yet to be booked.
Deepak Builders and Engineers IPO Review
Swastika Investmart Ltd
The brokerage states that the issue is fairly valued. The company is an expanding engineering and construction firm located in northern India. There has been continual growth in both revenue and profitability. Risk factors include geographical concentration, intense competition, and dependence on the government. In terms of investment advice, it is suitable for long-term investors interested in gaining exposure to the Indian construction sector, provided that thorough due diligence is conducted.
Details of Deepak Builders and Engineers’ IPO
In addition to an additional 21.1 lakh shares offered through offer-for-sale (OFS), the engineering and construction company plans to issue 1.07 crore new equity shares. Deepak Kumar Singal and his partner, the company’s promoters and current owners of a nearly 100% stake in the business, will be involved in the offer-for-sale.
Fedex Securities Pvt Ltd is the book-running lead manager for the Deepak Builders & Engineers IPO, while Kfin Technologies Ltd is the issue registrar.
Today’s IPO GMP for Deepak Builders and Engineers
Today’s IPO GMP for Deepak Builders and Engineers is +60. According to investorgain.com, this shows that the share price of Deepak Builders and Engineers was selling at a premium of ₹60 on the grey market.
The expected listing price of Deepak Builders and Engineers shares is ₹263 per share, which is 29.56% more than the IPO price of ₹203, taking into account the upper end of the IPO pricing band and the existing premium on the grey market.
Grey market activity over the past seven sessions indicates that today’s IPO GMP is trending upward and is expected to have a robust listing. The GMP is between ₹11 and ₹60, with ₹11 being the lowest and ₹60 being the highest, according to investorgain specialists.
Investors’ willingness to pay more than the issue price is shown by the “grey market premium.”
