Deepak Builders and Engineers IPO share allotment likely on October 24: Steps to check status on NSE, BSE and Kfin Tech

Deepak Builders and Engineers IPO share allotment status is scheduled to be finalised on Thursday, October 24, after the mainboard issue closed with strong demand.

Deepak Builders and Engineers India Limited aims to raise ₹260.04 crore through the initial public offering. The IPO was open for subscription from Monday, October 21, to Wednesday, October 23.

The mainboard issue was overall subscribed 41.54 times with applications for more than 37.24 crore shares against 89.67 lakh shares offered across categories.

The Non-Institutional Investors (NIIs) led the demand for Deepak Builders and Engineers IPO by placing bids for 15.84 crore shares compared to 19.21 lakh shares set aside for the category. The issue was booked 82.47 times in the NIIs category. The retail investors applied for 17.83 crore shares against 44.83 lakh shares set aside for the category, leading to a subscription of 39.79 times. The Qualified Institutional Buyers (QIBs) booked their quota 13.91 times. The QIBs applied for 3.56 crore shares against 25.62 lakh shares on offer.

The investors, who participated in the subscription of the mainboard issue, can check the IPO share allotment status on the website of the registrar Kfin Technologies Limited. The share allotment status can also be checked on the NSE and BSE websites.

Steps to check Deepak Builders and Engineers share allotment status on the NSE website

• Go to the NSE IPO allotment status page
• Log in with your username and password. New investors need to register on the NSE website in order to check the share allotment status
• Select ‘Deepak Builders and Engineers’ from the dropdown list of issue names
• Verify PAN details
• Type in the IPO application Number
• Click on the ‘Submit’ button

Here’s how to check Deepak Builders and Engineers IPO allotment status on Kfin Tech:

• Visit the IPO allotment page of the registrar Kfin Technologies Limited at https://ris.kfintech.com/ipostatus/
• Choose any one of the five links shown on the screen
• Under the IPO name tab, choose ‘Deepak Builders and Engineers’
• Type in your Application Number, Demat account number or PAN
• Clear the captcha to verify
• Click on the submit button to view the allotment status of your application.

Alternatively, investors can also check the share allotment status on the BSE website by entering their PAN details and IPO application number.

It’s important to note that the IPO share allotment details will be available only after the company finalises the share allocation.

Subsequent to the share allocation, the company will transfer the shares to the Demat accounts of the allottees on October 25. Refunds will also be initiated for unsuccessful bidders on the same day.

The IPO listing date has been tentatively fixed as Monday, October 28. Shares of the company Limited will be listed on the NSE and BSE.

Deepak Builders and Engineers IPO details

Deepak Builders and Engineers aims to raise ₹260.04 crore through its public issue. The mainboard issue consists of a fresh issue of 1.07 crore shares, amounting to ₹217.21 crore, along with an offer-for-sale (OFS) component of 21 lakh shares, aggregating to ₹42.83 crore.

The IPO price band was fixed at ₹192 to ₹203 per share. The minimum lot size for retail investors was a single lot of 73 shares, which aggregated to an investment of ₹14,819.

Deepak Builders and Engineers IPO objective

The company plans to use the money raised via the public issue for repayment of its borrowings, funding working capital requirements and for general corporate purposes.

About Deepak Builders and Engineers

Deepak Builders and Engineers India Limited, incorporated in September 2017, is engaged in the construction of administrative, institutional and industrial buildings. The company also constructs hospitals, stadiums and residential complexes. The company has completed projects across Punjab, Haryana, Rajasthan, Uttarakhand and Delhi. The company employed 632 people on a permanent basis as of June 30, 2024.