Deepak Builders' Stocks Dive on Market Debut

Deepak Builders and Engineers India Ltd's stock saw a significant drop in its market debut, closing nearly 21% below the issue price. Despite high subscription rates in its IPO, shares closed at Rs 161.90 on BSE and Rs 161 on NSE as investors showed reluctance.

Shares of Deepak Builders and Engineers India Ltd plummeted almost 21% after their first day on the market, recording a stark contrast from the initial public offering (IPO) price.

On the Bombay Stock Exchange (BSE), the company’s stock initially listed at Rs 198.50, slightly below the Rs 203 issue price, and saw a steep fall to Rs 160.15 during the trading session.

Similarly, on the National Stock Exchange (NSE), the stocks debuted at Rs 200 before closing at Rs 161, reflecting a 20.68% drop.