Deepak Builders & Engineers opened its IPO on October 21 and closed on October 23. It raised a sum of Rs 260.04 crore. The company’s IPO price band ranged between Rs 192 to Rs 203 per equity share. The allotment of the shares is likely to be finalised on October 24.
Here’s how you can check allotment:
Step 1
Open a tab on any search engine. After that search Kfin Technologies.
Step 2
Open the website of Kfin Technologies and hover on the ‘Products’. Now, in the drop-down menu go to the investors section and click on the IPO allotment status or click on Kfin Technologies.
Step 3
Fill in all your details – the company’s name and Application number/ Demat account/ or PAN number (any of the three).
Step 4
Enter the captcha and hit the search button.
Refund and Listing
The refunds will likely be initiated on October 25 and shares will also be credited in the D’mat accounts of the allotted investors on October 25. The listing on NSE and BSE is likely on October 28.
GMP
The shares of Deepak Builders & Engineering were trading at a premium of 25% to its issue price in the unofficial market. In a grey market, shares change hands illegally before listing on the bourses. Market participants keep track of GMP to take cues regarding listing day gains.
Also ReadDeepak Builders and Engineers IPO fully subscribed within two hours on Day 1
About Deepak Builders & Engineering
Deepak Builders & Engineers India Ltd. (DBEIL), is an integrated engineering and construction company, specializing in the execution and construction of administrative & institutional buildings, hospitals and medical colleges, industrial buildings, historical memorial complexes, stadium and sports complexes, residential complexes, and various developmental and other construction activity.
Expert’s Take on IPO
“At a higher price band, the company is demanding a P/E multiple of 15.7x (to its FY24 EPS of Rs 13), which is at a discount to its peer average. Recently, the company has improved its margins by effectively controlling costs. The majority of the company’s projects are government-related. Going forward, we believe the company has strong long-term growth potential, supported by government initiatives in the construction sector and the overall positive outlook for the industry.
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