Shares of Deepak Builders & Engineers had a subdued debut on the stock exchanges today, listing at a discount on both the NSE and BSE. The stock opened at Rs 200 on the NSE, reflecting a 1.48% drop from its IPO price of Rs 203.
Similarly, on the BSE, the stock listed at Rs 198.50, marking a 2.22% decline from its issue price, indicating a muted response from the market on its first trading day.
Deepak Builders & Engineers IPO Subscription Status
Despite a downturn in broader equity markets, investor confidence remained high for Deepak Builders & Engineers India, whose IPO saw bids for 37.24 crore equity shares—41.54 times the offer size of 89.67 lakh shares.
Demand was led by non-institutional investors (HNIs), who subscribed to 82.47 times their allotment, while retail investors followed closely, with 39.79 times subscription of their reserved portion. Qualified institutional buyers also demonstrated robust interest, subscribing 13.91 times their allocated shares.
Where Will Be The Money Raised By IPO Used?
The Ludhiana-based construction company, Deepak Builders & Engineers India, raised Rs 78 crore from anchor investors on October 18.
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The company has outlined plans to allocate Rs 142 crore from the fresh issue proceeds to repay debt and bolster working capital needs, with remaining funds directed towards general corporate purposes.
About Deepak Builders & Engineers
Founded in 2017, Deepak Builders & Engineers India Limited has built a reputation as a specialized construction service provider. The company undertakes a diverse range of projects, from administrative and institutional buildings to hospitals, stadiums, and residential complexes.
Their turnkey projects span a comprehensive suite of services, including architecture, civil work, MEP (mechanical, electrical, plumbing), firefighting, IT systems, medical gas pipelines, and landscaping, catering to both government and private sector clients.
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