Deepak Builders & Engineers India IPO subscribed 3.06 times

21 Oct 2024 , 03:32 PM

Deepak Builders and Engineers India, a construction firm based in Punjab, has announced its initial public offering (IPO), making its stock market debut today. On October 18, the business raised Rs 78.01 crore through an anchor book from five institutional investors ahead of the IPO.

The largest investor was Neomile Growth Fund, which bought 14.77 lakh shares for Rs 30 crore, followed by Citadel Capital Fund, which bought 9.85 lakh shares for Rs 20 crore. For 13.8 lakh shares, Saint Capital Fund, Zeal Global Opportunities Fund, and Elite Capital Fund invested a total of Rs 28 crore.

As of 3:27 pm, the IPO was subscribed 3.06 times. The retail portion had received maximum bids being oversubscribed 4.81 times. The NII portion was subscribed 2.56 times and the QIB portion was booked 50%.

Deepak Builders and Engineers India’s initial public offering (IPO) price range for equity shares, each having a face value of Rs 10, is set between Rs 192 and Rs 203. The time frame for subscriptions is Monday, October 21 through Wednesday, October 23.

Thirty-five percent of the shares are designated for regular investors, fifteen percent for non-institutional investors (NIIs), and fifty percent for qualified institutional buyers (QIBs), according to the public offering.

For feedback and suggestions, write to us at [e-mail]