Deepak Builders and Engineers India is expected to have a strong debut on October 28 after a successful initial public offering (IPO).
The IPO, valued at Rs 260 crore, was oversubscribed 41.54 times during the bidding period from October 21 to 23. Non-institutional investors subscribed 82.47 times in their reserved portion, while retail investors subscribed 39.79 times. Qualified Institutional Buyers acquired 13.91 times the allotted quota.
The Punjab-based construction firm raised Rs 217.21 crore through a fresh issue of 1.07 crore equity shares and Rs 42.83 crore from an offer-for-sale of 21.1 lakh shares, priced at Rs 203 per share. Market experts predict a promising listing, with a grey market premium (GMP) of 24.63 percent indicating a potential listing price of around Rs 253, resulting in a gain of Rs 50 from the issue price.