Shares of Deepak Builders & Engineers India Ltd. listed at Rs 200 on the NSE on Monday with a discount of 1.48% over its issue price of Rs 203. It opened at Rs 198.5 on the BSE, with a discount of 2.21%.
The IPO was subscribed 41.54 times on its third and final day last week. The public offer contained a fresh issue of nearly 1.1 crore shares worth Rs 217.2 crore and an offer-for-sale of 0.21 crore shares amounting to Rs 42.8 crore.
The IPO witnessed solid demand across segments, with non-institutional investors bidding 82.47 times the offer, followed by retail investors (39.79 times) and qualified institutional buyers (13.91 times).
Ahead of the IPO, the company also raised Rs 78.01 crore through anchor investors.
Deepak Builders & Engineers is an engineering, procurement, and construction company that builds railway bridges and also undertakes development and redevelopment of railway stations.
Its other construction projects include administrative and institutional buildings, hospitals and flyovers, among others. The company had orders worth Rs 1,380 crore as of financial year 2024, of which 66% were from the railways.
The company plans to use proceeds from the fresh issue for repayment or prepayment, in full or part, of certain borrowings, funding of working capital requirements and general corporate purposes.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
