Deepak Builders and Engineers IPO was fully booked within two hours of the launch, which was primarily driven by the retail investors, subscribing the issue 1.7 times. The non-institutional investors booked the issue 0.69 times while the qualitative institutional booked the issue zero times.
The company received bids worth Rs 181.92 crore from investors. The retail buyers’ bids were of Rs 155.06 crore while from NIIs were of Rs 26.836 crore.
Deepak Builders & Engineers IPO GMP
Also Read Waaree Energies IPO opens on October 21; Check latest GMP, allotment date, price band, listing & more NBCC shares jump over 4% as stock trades ex-bonus Manba Finance makes a strong debut, lists at 21% premium on NSE Manba Finance IPO 2024 Highlights: Manba Finance shares list at 25% premium over IPO price
The stocks of Deepak Builders & Engineers were commanding a premium of 30% or Rs 60 to the issue price in the grey market. The premium in the unofficial market indicates a listing pop for the stock. The grey market is an unregulated place to trade shares illegally.
Deepak Builders & Engineers IPO Details
The company opened the IPO to investors on October 21. The IPO will close on October 23. The company will raise a sum of Rs 260 crore via a combination of fresh shares and an OFS component. The company set the IPO price band between Rs 192 to Rs 203 per equity share. The allotment of shares is expected to be finalised on October 24. The listing on NSE and BSE will likely be on October 28, as per the tentative schedule. Fedex Securities is the sole book-runner of the IPO and Kfin Technologies registrar.
Also ReadCatch all the live updates on Waaree Energies IPO 2024
Deepak Builders IPO Review
The company established a strong market presence which shows its credibility in the EPC segment. It has a diversified project portfolio which reduces its reliance on a single market segment. As of June 2024, the company has some litigations towards projects amounting to Rs 88.4 crore (6% of the total order book).
“We believe that the liability of this should not impact the ongoing concern about the company’s profitability.
» Read More
