Deepak Builders and Engineers IPO subscribed 4 times on high retail demand; check day 1 subscription status and other key details

Deepak Builders and Engineers Limited IPO saw a strong demand on the first day of bidding on Monday, October 21, driven by high demand from retail investors.

The initial public offering (IPO) of the construction engineering company received bids for more than 3.69 crore shares against 89.67 lakh shares on offer. The mainboard issue was booked 4.12 times across all investor categories, the NSE data at the close of bidding on the first day at 5 pm showed.

The retail segment saw the highest subscription with bids for over 2.74 crore shares against 44.83 lakh shares on offer. The retail quota was booked 6.22 times. The Non-Institutional Investors (NIIs) booked their category 4.28 times with applications for 82.24 lakh shares against 19.21 lakh shares set aside for them.

The Qualified Institutional Buyers (QIBs) submitted applications for 13.28 lakh shares against 25.62 lakh shares reserved for the category. The QIBs booked their quota of 52%.

Deepak Builders and Engineers IPO price band, minimum investment and other details

The Deepak Builders and Engineers IPO is a ₹260.04-crore book-building issue. The mainboard IPO comprises a fresh issue of 1.07 crore shares, worth ₹217.21 crore, and an offer-for-sale (OFS) portion of 21 lakh shares, amounting to ₹42.83 crore.

The IPO price band has been set at ₹192 to ₹203 per share.

The minimum lot size for an application is 73 shares, requiring a minimum investment of ₹14,819, for retail investors. For small Non-Institutional Investors (sNIIs), the minimum investment is 14 lots, or 1,022 shares, amounting to ₹2,07,466. Meanwhile, for large Non-Institutional Investors (bNIIs), the minimum bidding size is 68 lots, or 4,964 shares, aggregating to ₹10,07,692.

Fedex Securities Pvt Ltd is the lead manager overseeing the IPO, while Kfin Technologies Limited is serving as the registrar for this offering.

Deepak Builders and Engineers IPO Dates

The Deepak Builders and Engineers IPO is open for subscription from Monday, October 21, to Wednesday, October 23.

The IPO share allotment status is expected to be finalised on October 24. Refunds to unsuccessful applicants will be initiated on October 25, with shares being credited to the Demat accounts of successful applicants the same day.

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

Deepak Builders and Engineers IPO objective

Deepak Builders and Engineers aims to utilise the net proceeds from the IPO for repayment or prepayment of borrowings, either fully or partially. A portion of the IPO proceeds will be utilised for the company's working capital requirements and general corporate purposes.

About Deepak Builders and Engineers Limited

Established in September 2017, Deepak Builders and Engineers India Limited is a leading construction company with a focus on multiple segments, including administrative, institutional and industrial projects. The company is involved in building hospitals, stadiums, residential complexes and other construction activities.

The company’s operations are categorised into three main areas— construction projects, infrastructure projects and the sale of real estate.

Deepak Builders and Engineers has executed projects across Punjab, Haryana, Rajasthan, Uttarakhand, Chandigarh and Delhi-NCR.