The IPO of Deepak Builders and Engineers has attracted strong interest from investors. As of 1:19 PM today, the IPO has been subscribed more than 8 times.
On the first day of its launch, 21st October 2024, it saw 4.18 times subscription. The highest demand comes from the retail category, which has been subscribed 11.44 times.
Additionally, the Qualified Institutional Buyers (QIB) category has seen a subscription of 9.96 times.
Investors have until 23rd October 2024 to subscribe to this IPO, which opened on 21st October. The size of the IPO is 260.04 crore. The company is offering 1.07 crore fresh shares and 21 lakh shares through Offer for Sale (OFS).
IPO Price and Grey Market Premium
The price band for the IPO of Deepak Builders and Engineers Limited is set between Rs 192 to Rs 203. Investors can buy a lot of 73 shares, which means the minimum investment for retail investors is Rs 14,819.
The allotment of shares is expected on 24th October, with the listing planned for 28th October.
According to reports from Investors Gain, the IPO is currently trading at a premium of Rs 61 in the grey market. This premium has remained unchanged over the last two days.
The IPO was opened for anchor investors on 18th October, and the company raised Rs 78.01 crore from them.
About Deepak Builders
Deepak Builders is a construction company that undertakes a wide range of projects, including administrative, institutional, industrial, hospitals, stadiums, and residential buildings.
In the June quarter, the company reported a total revenue of Rs 106.34 crore, with a profit of Rs 14.21 crore in the first quarter of the current financial year.
