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Deepak Builders & Engineers India plans to raise ₹260 crore through an initial public offering (IPO), which will open for subscription on Monday.
The company will offer 1.28 crore equity shares, including fresh issue of 1.07 crore shares and an offer for sale of 21.10 lakh shares.
The company has fixed the price band at ₹192-203 a share, while the lot size will be 73 equity shares.
Post-IPO, the company will be listed on the NSE & BSE platform. The anchor portion will open on Friday.
Use of funds
The net proceeds from the IPO will be used to repay loan and funding for working capital.
Deepak Kumar Singal, Chairman and Managing Director, Deepak Builders & Engineers India, said the proceeds from the IPO will be instrumental in enhancing working capital and invest in future projects that align with growth objectives.
The IPO will not only strengthen the operational capabilities, but also contribute to long-term growth, he added.
The integrated engineering and construction company, specialises in construction of hospitals and medical colleges, industrial buildings, stadiums and sports and residential complexes.
It currently has 12 ongoing projects and completed over 60 projects. The total order book stands at ₹1,380 crore.
In FY24, the company achieved a revenue of ₹511 crore, EBITDA of ₹117 crore and PAT of ₹60 crore.
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