The IPO allotment for Deepak Builders & Engineers is set to be finalized on Thursday, October 24. Investors can expect notifications about the debit of funds or the revocation of their IPO mandates by Friday, October 25. The construction company’s IPO received a mixed response from the market.
IPO Overview
The IPO was open for subscription from October 21 to October 23, offering shares in a fixed price band of ₹192-203 per share, with a lot size of 73 shares. Through the IPO, Deepak Builders & Engineers raised ₹260.04 crore, which included a fresh share sale of ₹217.21 crore and an offer-for-sale (OFS) of 21.10 lakh equity shares.
Subscription Details
The IPO was subscribed 41.54 times in total, reflecting a diverse level of interest:
- Non-Institutional Investors (NIIs): Subscribed 82.47 times
- Retail Investors: Subscribed 39.79 times
- Qualified Institutional Buyers (QIBs): Subscribed 13.91 times
Grey Market Premium (GMP) Update
The grey market premium (GMP) for Deepak Builders & Engineers has dipped following a lukewarm response from QIBs. Currently, the shares command a GMP of ₹50, indicating a potential 25% gain upon listing. Earlier, the GMP was around ₹60 on the last day of bidding.
About Deepak Builders & Engineers India
Incorporated in September 2017, Deepak Builders & Engineers specializes in the construction of administrative, institutional, industrial buildings, hospitals, stadiums, residential complexes, and other infrastructure projects. Their business segments include construction projects, infrastructure ventures, and product sales.
Brokerages’ Perspective
Market analysts have shown a positive outlook, recommending a long-term subscription due to growing market demand, government focus on infrastructure, a strong order book, and robust growth prospects. However, they caution about risks like dependency on government contracts, project delays, revenue concentration, and geographical limitations.
Listing & Lead Managers
Fedex Securities acted as the sole book-running lead manager for this IPO, with KFin Technologies as the registrar. Shares are expected to list on the BSE and NSE on Monday, October 28.
How to Check IPO Allotment Status
Investors can check the allotment status through the following methods:
On the BSE Website:
- Visit BSE Allotment Status.
- Select “Equity” under the issue type.
- Choose “Deepak Builders & Engineers India Limited” from the dropdown.
- Enter your application number and PAN ID.
- Verify with the CAPTCHA and click “Submit.”
On KFin Technologies Website:
- Go to KFin IPO Status Portal.
- Select the relevant IPO from the dropdown once the allotment is finalized.
- Choose a mode: Application number, Demat account number, or PAN ID.
- Specify whether the application type is ASBA or Non-ASBA.
- Fill in the required details and solve the CAPTCHA.
- Click “Submit” to check your status.
KFin Technologies, registered with SEBI, handles the electronic processing of applications and oversees the allotment process, ensuring timely credit of shares, refund processes, and addressing investor queries.
