The IPO of Deepak Builders & Engineers has created considerable buzz among investors, particularly in the retail and non-institutional investor (NII) segments. This public offering, which opened for subscription on October 21, will close today, October 23, at 5 PM.
IPO Pricing and Structure
Deepak Builders & Engineers has set its IPO price in the range of ₹192 to ₹203 per share. The offering consists of a fresh issue of 1.07 crore shares, alongside an offer for sale (OFS) of 21 lakh shares. The company plans to use the proceeds from the IPO to pay down debt, support working capital, and cover general corporate expenses.
Grey Market Premium (GMP)
As of the latest updates, the grey market premium (GMP) for Deepak Builders & Engineers stands at ₹62. This suggests positive market sentiment toward the stock. Based on the upper price band of ₹203, the anticipated listing price is around ₹265, reflecting a premium of approximately 30.54%. Such a strong GMP typically indicates robust demand and investor confidence ahead of the stock’s debut.
Subscription Status
By 1 PM on the third day of subscription, the IPO had been subscribed 23.83 times, with bids totaling 21,37,16,625 shares against the 89,67,061 shares offered. The retail segment was subscribed 27.05 times, receiving bids for 12,12,64,096 shares versus 44,83,500 shares available. The NII segment saw even greater interest, subscribed 45.78 times, with bids for 8,79,71,205 shares against 19,21,500 shares. Meanwhile, the Qualified Institutional Buyers (QIB) segment was subscribed 1.75 times, with bids for 46,67,912 shares against 25,62,061 shares available.
The IPO remains open for subscription until 5 PM today, and investors can apply in lots, with one lot comprising 73 shares. Allotment is expected to be finalized on October 24, with shares credited to successful bidders’ demat accounts by October 25. The stock is projected to debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 28.
Deepak Builders & Engineers India Limited specializes in constructing administrative, institutional, and industrial buildings, including hospitals, stadiums, residential complexes, and other large-scale projects.
Disclaimer:
This information is for informational purposes only and does not constitute financial advice, investment recommendations, or an offer to buy or sell securities. The performance of the Deepak Builders & Engineers IPO, including subscription rates and grey market premiums, is subject to market risks and may fluctuate based on various factors. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
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