Davin Sons IPO Allotment: Steps To Verify Status On BSE And Kfin Tech; Check Latest GMP

The allotment of shares in the initial public offering of Davin Sons Retail Ltd. is set to be finalised on Tuesday, Jan. 6 following a strong subscription from investors. The SME issue was booked over 120 times, led by an enthusiastic response from retail investors. Investors placed bids for a total of 18,31,26,000 shares in comparison to 15,16,001 shares offered.

Davin Sons IPO was subscribed 164.78 times in the retail category with investors bidding for 12,49,04,000 shares against 7,58,000 shares on offer.

Non-institutional investors bid for 5,01,04,000 shares surpassing their reservation of 7,58,000 shares. The allocation for NIIs in Davin Sons IPO was booked 66.1 times.

Davin Sons IPO, valued at Rs 8.78 core,  consists of an entirely fresh issue of 15.96 lakh shares, offered at a fixed price of Rs 55.

With such a strong response from investors, the allotment of shares in the Davin Sons IPO is expected to be highly competitive. Investors who bid in the IPO can check the allotment status online via the official websites of BSE and the issue's registrar Kfin Technologies Ltd.

• Visit the IPO allotment page on BSE website here.

• Select ‘Equity’ as the issue type.

• Choose ‘Davin Sons Retail’ from the dropdown menu.

• Enter your application number or PAN.

• Click ‘Search’ to view your status.

• Visit the IPO allotment page on Kfin Technologies website here.

• Select any one of the five server links displayed on the screen.

• Select 'Davin Sons Retail Ltd.' from the list of companies.

• Enter your Application Number, Demat account number or PAN.

• Enter details based on your selection.

• Clear Captcha to proceed.

• Click ‘Submit’ to view your status.

The company will initiate refunds for the non-allottees along with the credit of shares into the demat account of successful bidders on Jan. 8.

Davin Sons Retail Ltd. Shares are set to be listed on the BSE SME on Jan 9. 

The latest grey market premium on Davin Sons IPO was Rs 5 as per the updates at 5:04 a.m. on Jan. 7. Shares of the company are likely to debut at Rs 60, marking a premium of 9.09% over the price band, according to InvestorGain.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Davin Sons Retail Ltd. plans to use the net proceeds from the IPO to fund capex on the purchase of a warehouse. A portion of the funds will be used for general corporate purposes and meeting other working capital requirements.

Incorporated in 2022, Davin Sons Retail Ltd. is engaged in the manufacturing and designing of readymade garments for different brands. 

It operates in Haryana, Delhi, Punjab, Rajasthan, Gujarat, Bihar, and Chhattisgarh.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.