Deepak Builders And Engineers IPO Opens, Secures Rs 78 Cr From Institutional Investors

Punjab-based construction company Deepak Builders and Engineers India has unveiled its initial public offering (IPO), debuting on the stock market today. Ahead of the IPO, the company raised Rs 78.01 crore from five institutional investors through an anchor book on October 18.

Neomile Growth Fund was the largest investor, purchasing 14.77 lakh shares amounting to Rs 30 crore, while Citadel Capital Fund acquired 9.85 lakh shares worth Rs 20 crore. Saint Capital Fund, Zeal Global Opportunities Fund, and Elite Capital Fund collectively invested Rs 28 crore in exchange for 13.8 lakh shares.

The IPO price band for Deepak Builders and Engineers India has been set between Rs 192 and Rs 203 per equity share, with a face value of Rs 10 each. The subscription period is from Monday, 21 October, to Wednesday, 23 October.

As per the public issue, 50 per cent of the shares are reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and 35 per cent for retail investors.

Deepak Builders and Engineers India Limited, established in September 2017, specialises in constructing administrative, institutional, and industrial buildings, along with hospitals, stadiums, residential complexes, and various other projects. The company also manages turnkey projects involving architectural, structural, civil, MEP, firefighting systems, public health services, IT systems, operation theatres, medical gas pipelines, and landscaping.

On the first day of subscription, the IPO was subscribed 1.57 times, according to BSE data as of 12:27 IST. A total of 1,40,82,430 shares were bid against 89,67,061 shares on offer. The retail investor portion was subscribed 2.64 times, while the non-institutional investor quota was subscribed 1.16 times. The qualified institutional buyers (QIBs) portion is yet to be fully booked.