October 28, 2024
New Delhi, India
Deepak Builders & Engineers IPO
Deepak Builders & Engineers made a subdued debut on October 28, listing at a 2% discount on both the BSE and NSE after an IPO that received 41.54 times overall subscription. Despite strong interest during the offering, the stock opened lower than expected, leading to further declines in early trading.
Key IPO Details:
- Listing Prices:
- BSE: ₹198.50 (2.22% discount from issue price ₹203)
- NSE: ₹200
- Early Trading: Fell up to 15.8%, reaching ₹170.90 on BSE.
- Subscription Breakdown:
- Retail Investors: 39.79 times
- Qualified Institutional Buyers (QIBs): 13.91 times
- Non-Institutional Investors (NIIs): 82.47 times
- IPO Structure: Combined fresh issue of 1.07 crore shares and an offer for sale (OFS) of 21 lakh shares.
Purpose of Funds:
The IPO proceeds are allocated for debt repayment, working capital requirements, and corporate purposes. Deepak Builders & Engineers specializes in constructing infrastructure projects, including administrative and institutional buildings, hospitals, stadiums, and residential complexes.
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