October 16, 2024
New Delhi, India
Upcoming IPO
Deepak Builders & Engineers Limited has announced its upcoming Initial Public Offering (IPO), setting a price band between ₹192 and ₹203 per equity share with a face value of ₹10. The IPO subscription will open on October 21, 2024, and close on October 23, 2024. Anchor investor allocations are scheduled for October 18.
Key Details of the IPO:
- Price Band: ₹192 to ₹203 per share
- Lot Size: 73 shares and in multiples thereof
- IPO Date: October 21-23, 2024
- Anchor Allocation: October 18, 2024
- Listing Date: October 28, 2024 (tentative)
Share Allocation Breakdown:
- Qualified Institutional Buyers (QIB): Up to 50%
- Non-Institutional Investors (NII): At least 15%
- Retail Investors: At least 35%
Business Overview:
Founded in 2017, Deepak Builders & Engineers is involved in constructing administrative, institutional, and industrial buildings, as well as hospitals, stadiums, and residential complexes. The company has successfully completed turnkey projects across Punjab, Haryana, Rajasthan, Uttarakhand, Chandigarh, and Delhi.
Financial Highlights:
Between FY2023 and FY2024, the company saw a 19% revenue growth and a 182% rise in profit after tax (PAT). It plans to issue 1.07 crore fresh equity shares and offer 21.1 lakh shares via Offer-for-Sale (OFS), primarily from promoters Deepak Kumar Singal and Sunita Singal.
Competitors:
Listed peers include:
- IRCON International Ltd (P/E 24.67)
- Ahluwalia Contracts (India) Ltd (P/E 19.25)
- PSP Projects Ltd (P/E 19.16)
- ITD Cementation Ltd (P/E 37.04)
Fedex Securities Pvt Ltd is the lead manager for this IPO, and Kfin Technologies Ltd is the registrar.
The GMP of Deepak Builders & Engineers Limited IPO is currently at 11 Rs. higher a 5.42% according to www.investorgain.com
Disclaimer:
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