India News Get -BusinessDeepak Builders & Engineers IPO Price Range; Registration date, batch size details
The initial public offering i.e. IPO of Deepak Builders and Engineers India Limited will open on October 21. Investors will be able to bid on this issue until October 23. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 28.
The company aims to raise ₹260.04 crore through this issue. For this, the company is issuing 10,700,000 new shares worth ₹217.21 crore. Whereas, existing investors of the company are selling 2,110,000 shares worth ₹42.83 crore through Offer for Sale i.e. OFS.
If you are also planning to invest money in it, we tell you how much you can invest in it.
What is the minimum and maximum amount that can be invested? Deepak Builders and Engineers India has set the price range of this issue at ₹192 to ₹203. Individual investors can bid on at least one lot, i.e. 73 shares. If you apply for 1 lot as per the upper IPO price band of ₹203, then you will need to invest ₹14,819.
At the same time, retail investors can apply for a maximum of 13 lots, or 949 shares. For this, investors will have to invest ₹192,647 as per the upper price band.
35% of the issue reserved for individual investors The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, around 35% of the shares are reserved for retail investors and the remaining 15% are reserved for non-institutional investors (NII).
Deepak Builders and Engineers’ gray market premium is 15.76% Before the IPO opened, the company’s shares touched a premium of 15.76 per cent, or ₹32 per share in the gray market. In such a situation, according to the upper price range of ₹203, its quotation can be ₹235. Although it is just a guess, the listing price of a stock is different from the gray market price.
Deepak Builders and Engineers India was established in 2017. Established in 2017, Deepak Builders & Engineers India Limited is a construction company that constructs administrative, institutional and residential buildings, hospitals, stadiums, residential complexes and other buildings.
The company has completed turnkey projects ranging from architectural, structural, civil, MEP, fire fighting systems, public health services, IT systems, theater of operations, medical gas pipelines and to landscaping.
What is IPO? When a company issues its shares to the general public for the first time, it is called an initial public offering, i.e. an IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises funds by selling some shares to the public or issuing new shares. For this, the company brings an IPO.