Deepak Builders & Engineers IPO Day 1 Subscription at 0.95x by 11:25 AM

The Deepak Builders & Engineers IPO opened for subscription today, October 21, 2024, and will close on October 23, 2024. The shares allotment is expected to be finalised on Thursday, October 24, 2024. The company is expected to be listed on October 28, 2024, on both the BSE and NSE.

Deepak Builders IPO is a book-built issue totalling ₹260.04 crores, consisting of a fresh issue of 1.07 crore shares amounting to ₹217.21 crores and an offer for sale of 0.21 crore shares worth ₹42.83 crores.

The price band for the Deepak Builders & Engineers IPO is set between ₹192 and ₹203 per share, with a minimum application lot size of 73 shares. Retail investors need to invest a minimum of ₹14,819.

As of October 21, 2024, at 6:03 AM, Deepak Builders IPO’s GMP is ₹60, suggesting an estimated listing price of ₹263 (the cap price plus today’s GMP). This indicates a potential gain of approximately 29.56% per share.

The company intends to utilise the net proceeds from the fresh issue for several purposes:

1. Repaying or prepaying certain borrowings;
2. Funding working capital requirements; and
3. General corporate purposes.

Deepak Builders & Engineers IPO Subscription Status

On Day 1, October 21, 2024, as of 11:25 AM, Deepak Builders IPO was subscribed 0.95 times. The retail category was subscribed 1.62 times, QIB was 0.00 times, and NII was 0.66 times. 

About Deepak Builders & Engineers Ltd

Deepak Builders & Engineers Ltd is an integrated engineering and construction company that specializes in the execution of various construction projects, including administrative and institutional buildings, hospitals, medical colleges, industrial structures, historical memorials, stadiums, sports complexes, residential complexes, and other developmental activities. While the company primarily focuses on construction projects, it has also diversified into specialised infrastructure work such as flyovers, rail under-bridges, rail over-bridges, approach roads, and the development and redevelopment of railway stations, collectively referred to as Construction & Infrastructure Projects.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.