Shares of Deepak Builders and Engineers will be listed at the bourses today. The IPO, which subscribed around 41.54 times, set the price at ₹192-203, at the upper end of the price range.
The initial public offering of Deepak Builders and Engineers closed with an overall subscription of 41.54 times, as non-institutional and retail investors poured in money. The ₹260.04 crore comprised a fresh issue (₹217.21 crore) and an OFS (₹42.83 crore).
QIB portion was subscribed 13.91 times, while retail investors and non-institutions subscribed 39.79 times and 82.47 times, respectively.
The company raised ₹78.01 crore from five institutional investors via anchor book on October 18 as part of the IPO exercise. It has finalised the allocation of 38,42,939 shares to anchor investors—Neomile Growth Fund, Citadel Capital Fund, Saint Capital Fund, Zeal Global Opportunities Fund, and Elite Capital Fund—at ₹203 per share.
Deepak Builders will use ₹30 crore of the fresh issue proceeds to repay debt, ₹111.96 crore for working capital, and the remaining for general corporate purposes.
Deepak Builders will use ₹30 crore of the fresh issue proceeds to repay debt, ₹111.96 crore for working capital, and the remaining for general corporate purposes.
Deepak Builders & Engineers undertakes construction and infrastructure projects as EPC services on a fixed-sum turnkey basis and an item-rate/percentage basis.
Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, said the stock is expected to post a 25 per cent listing gain.
“Post-listing, investors should evaluate their position based on the actual listing performance. While short-term gains appear promising, those with a long-term perspective may want to hold, especially considering Deepak Builders’ strong fundamentals and high subscription, which could lead to further appreciation over time. However, given the volatile market, booking partial profits at listing could also be a prudent approach for risk-averse investors,” said Nyati.