All You Need to Know About Deepak Builders and Engineers IPO

Deepak Builders & Engineers is set to float its IPO, which is scheduled to open on October 21, 2024 and closes on October 23, 2024.  Deepak Builders & Engineers IPO is a book-built issue of ₹260.04 crores. The IPO is a combination of a fresh issue of 1.07 crore shares aggregating to ₹217.21 crore and an offer for sale of 0.21 crore shares aggregating to ₹42.83 crore.

The price band for Deepak Builders & Engineers IPO has been set at ₹192 to ₹203 per share. A retail investor is required to make a minimum investment of ₹14,819 for one lot comprising 73 shares.

Deepak Builders & Engineers IPO allotment has been scheduled for October 24, 2024, and is likely to be listed on BSE and NSE with a tentative listing date of October 28, 2024.

Deepak Builders & Engineers has appointed Fedex Securities Pvt Ltd as the book-running lead manager, while Kfin Technologies Limited is the registrar for the issue.

Objective of Deepak Builders & Engineers IPO

Deepak Builders & Engineers has decided to utilise the net proceeds from the fresh issue towards funding the following objects:

• Repayment/prepayment, in full or part, of certain borrowings availed by the Company;
• Funding of working capital requirements of the company and
• General corporate purposes.

Deepak Builders & Engineers IPO GMP

As of October 18, 2024, 10:26 AM, Deepak Builders Engineers IPO last GMP was ₹32. Deepak Builders Engineers IPO’s estimated listing price is ₹235 (cap price + today’s GMP) with a price band of 203.00. The expected percentage gain/loss per share is 15.76%.

About Deepak Builders & Engineers India 

Incorporated in September 2017, Deepak Builders & Engineers India Limited is a construction company specializing in administrative, institutional, and industrial buildings, hospitals, stadiums, residential complexes, and other construction activities.

The company has completed turnkey projects encompassing architectural, structural, civil, MEP, firefighting systems, public health services, IT systems, operation theatres, medical gas pipelines, and landscaping.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.