Deepak Builders IPO closes today: 30% GMP spike; is it worth investing?

Deepak Builders IPO GMP: The grey market premium (GMP) for Deepak Builders & Engineers' initial public offering (IPO) remains strong on its final subscription day. The IPO, which opened on Monday, October 21, 2024, closes today. According to sources tracking grey market activity, unlisted shares of Deepak Builders are trading at a premium of Rs 31, representing a 30.05 percent surge over the IPO's upper price band of Rs 203.

Deepak Builders IPO subscription details

Deepak Builders IPO has so far received strong demand from investors, with bids for 13,57,18,169 shares against 89,67,061 shares offered, resulting in an oversubscription of 15.14 times by around 10:36 AM on Wednesday. 

 

Non-Institutional Investors placed the highest bid for the Deepak Builders IPO, subscribing 24.34 times. This was followed by Retail Individual Investors (RIIs), who subscribed 19.21 times, and Qualified Institutional Buyers (QIBs), who subscribed 1.10 times, as per the data available on the National Stock Exchange (NSE).

Deepak Builders IPO details

Deepak Builders IPO is available at a price band of Rs 192-203, and a lot size of 73 shares. Accordingly, investors can bid for a minimum of 73 shares of Deepak Builders IPO, and in multiples thereof. A retail investor requires a minimum amount of Rs 14,819 to bid for one lot or 73 shares of the IPO. 

The basis of allotment of Deepak Builders shares is expected to take place on Thursday, October 24, 2024, and subsequently, the company’s shares will be credited into demat accounts on Friday, October 25, 2024. 

Deepak Builders shares are expected to list on the BSE and NSE on Monday, October 28, 2024. Kfin Technologies is the registrar for the Deepak Builders IPO, while Fedex Securities is the sole book-running lead manager of the public issue.

Is it worth investing in Deepak Builders IPO? 

The company has succeeded in garnering reviews from brokers, including the Anand Rathi Research Team and Swastika Investment, for its IPO. The analysts have shared a positive outlook for the Deepak Builders IPO.

About Deepak Builders & Engineers

Deepak Builders & Engineers India, established in 2017, is a construction company specialising in building administrative, institutional, industrial, and residential projects. The company delivers turnkey solutions, encompassing architecture, civil works, MEP systems, and specialised services. Its business operates across three verticals: Construction Projects, Infrastructure Projects, and Product Sales.