Deepak Builders IPO Gains Momentum with Over 4x Subscription

Deepak Builders & Engineers India Ltd's IPO saw significant demand, with 4.12 times subscription on day one, totaling bids for over 3.69 crore shares against the offer of 89.67 lakh shares. Retail and non-institutional investor interest was high, with segments subscribing 6.12 and 4.26 times, respectively.

Deepak Builders & Engineers India Ltd's initial public offer (IPO) attracted substantial investor interest on its opening day, securing 4.12 times the subscription target.

NSE data shows that the Rs 260 crore IPO received bids for 3,69,59,389 shares, surpassing the offered 89,67,061 shares. The heightened demand was particularly pronounced among Retail Individual Investors (RIIs) and non-institutional investors, who oversubscribed by 6.12 times and 4.26 times, respectively. Meanwhile, Qualified Institutional Buyers (QIBs) accounted for 52 percent of their allocation.

The IPO features a mix of a fresh issue of up to 1.07 crore equity shares and an offer for sale of up to 21,10,000 equity shares, with a price range set between Rs 192 to 203 per share. Fedex Securities Private Ltd is handling the book running lead management for the offer.