Deepak Builders and Engineers IPO Subscription Details on Day 3

23 Oct 2024 , 11:09 AM

Deepak Builders and Engineers India, a Punjab-based construction firm, launched its IPO on October 21, 2024, following a successful anchor book raise of ₹78.01 Crore on October 18.

On the third day of subscription, the IPO was subscribed 16.86 times. Retail investors’ portion was 21.02 times subscribed, while the non-institutional investors’ (NII) segment saw 28.16 times subscription. The QIB segment is 1.10 times booked.

Neomile Growth Fund was the largest investor, buying 14.77 lakh shares for ₹30 Crore, while Citadel Capital Fund acquired 9.85 lakh shares for ₹20 Crore.

Additional investors, including Saint Capital Fund, Zeal Global Opportunities Fund, and Elite Capital Fund, collectively invested ₹28 Crore for 13.8 lakh shares.

The IPO price band is set at ₹192 to ₹203 per share, with a face value of ₹10 per equity share. The subscription period runs from October 21 to October 23.

The company plans to issue 1.07 Crore new equity shares, along with 21.1 lakh shares through an offer-for-sale (OFS) from promoters Deepak Kumar Singal and his partner, reducing their ownership.

Fedex Securities Pvt Ltd is the book-running lead manager, and KFin Technologies Ltd is the registrar for the IPO.