Davin Sons IPO allotment expected today: Here’s how to check status BSE, Kfin Technologies

Readymade garments manufacturer Davin Sons Retail is likely to finalise the IPO share allotment on Tuesday.

The SME public offer closed on Monday, January 6, with strong demand across investor categories. The ₹8.78-crore initial public offer (IPO) was open for subscription on the BSE SME platform from January 2 to 6. It comprised a fresh issue of 15.76 lakh shares.

At the close of bidding, the SME IPO attracted applications for 18.32 crore shares against 15.16 lakh shares on offer. The issue was booked nearly 121 times.

Leading the bidding chart, retail individual investors placed bids for 12.49 crore equity shares against 7.58 lakh equity shares on offer. The retail portion was subscribed 164.78 times.

The non-institutional investors (NIIs) submitted applications for 5 crore shares against their quota of 7.58 lakh shares, leading to a subscription of 66.1 times. The Qualified Institutional Buyers (QIBs) placed bids for 81.18 lakh shares.

The company will inform successful bidders about the IPO share allotment share through emails and SMS. However, bidders can also check the IPO allotment status on the websites of BSE and IPO registrar Kfin Technologies Limited.

How to check Davin Sons Retail IPO allotment on registrar website

• Visit KfinTechnologies Ltd’s official website at https://www.kfintech.com
• Go to the Products section on the main menu
• Click on ‘IPO allotment status’ link under the Investors’ section
• Select any of the links from 5 options
• Click on Select Company - Davin Sons Retail Limited
• Enter application number, PAN or client ID
• Enter the captcha code
• Click Submit

Steps to check Davin Sons Retail IPO share allotment on BSE

• Open BSE website https://www.bseindia.com
• Click on public issues
• Click on Application Status
• Select Davin Sons Retail Limited from the list
• Enter PAN details or application number
• Submit to check details

It’s important to note that the company name and the IPO share allotment details will appear on the BSE and Kfin Technologies websites only after the share allocation is finalised.

Davin Sons Retail IPO details

Davin Sons Retail manufactures and designs high-quality, ready-made garments. Its product portfolio includes jeans, shirts, and denim jackets for other brands.

The company has two business verticals of readymade garments through job work basis and distribution of FMCG products.

The company operates in Delhi, Punjab, Haryana, Rajasthan, Gujarat, Chhattisgarh, Bihar and Arunachal Pradesh.

• The ₹8.78 crore IPO was a fresh issue of 15.96 lakh shares
• The SME IPO was open for subscription from January 2 to 6
• The IPO price is ₹55 per share.
• The minimum lot size is 2,000 shares, requiring a minimum investment of ₹1,10,000.
• The company will initiate refunds and credit of shares to Demat accounts on January 8.
• The company has proposed to list its shares on the BSE SME platform on January 9

Davin Sons Retail IPO objective

The company will use the IPO proceeds to finance the capital expenditure for establishing a warehouse. Some funds will be used for working capital needs and general corporate purposes.

The company is engaged in the garment business, manufacturing by third-party job workers and distributing FMCG products of large FMCG Companies in India.

The company has proposed to utilise ₹1.36 crore to set up a warehouse with an aggregate built-up area of approximately 8,500 square feet in Neemrana, Rajasthan. Davin Sons Retail has proposed to use ₹4.22 crore to finance the Working Capital requirements and ₹1.89 crore for general corporate purposes.

Davin Sons Retail Financials

The company reported revenue from operations of ₹6.34 crore for the April-September period of FY25. Its net profit stood at ₹73.59 lakh.

Revenue from operations stood at ₹13.39 crore in the year ended on March 31, 2024, against ₹3.91crore in the year ended on March 31, 2023. The company’s profit after tax in FY24 was ₹1.64 crore against ₹56.62 lakh in FY23.

The initial public offering (IPO) of small and medium enterprise (SME) Davin Sons Retail Limited continued to see strong demand from investors across categories on Monday, January 6, the last day of bidding.

Davin Sons Retail shareholding status