Davin Sons Retail IPO allotment is set to be finalised on Wednesday, Jan 7 after a strong response from investors. The SME issue was oversubscribed by more than 120 times, with retail investors leading the charge. A total of 18,31,26,000 shares were bid for, compared to the 15,16,001 shares on offer.
In the retail category, the IPO was subscribed 164.78 times, with investors placing bids for 12,49,04,000 shares against the 7,58,000 shares available. Non-institutional investors also showed significant interest, bidding for 5,01,04,000 shares, far surpassing their reserved allocation of 7,58,000 shares. The NII portion of the IPO was subscribed 66.1 times.
Investors who made a bid can check the Davin Sons IPO allotment status online via the official websites of BSE and the issue’s registrar Kfin Technologies Ltd. The company will commence refunds for the non-allottees along with the credit of shares into the demat account of successful bidders on Jan 8. Davin Sons Retail shares will be listed on the BSE SME platform on Jan 9.
Davin Sons IPO, valued at ₹8.78 core, consists of an entirely fresh issue of 15.96 lakh shares, offered at a fixed price of ₹55. 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.
Founded in March 2022, Davin Sons Retail Limited specialises in the manufacturing and design of a diverse range of high-quality readymade garments, such as jeans, denim jackets, and shirts, for various brands. The company operates through two key business verticals: the manufacturing of readymade garments on a job-work basis and the distribution of FMCG products. Its operations span across multiple states, including Haryana, Delhi, Punjab, Arunachal Pradesh, Rajasthan, Gujarat, Bihar, and Chhattisgarh, with a broad customer base spread across these regions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 7, 2025, 9:36 AM IST
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