Deepak Builders IPO Skyrockets with 41.54x Subscription

Deepak Builders & Engineers India's IPO received an overwhelming response with 41.54 times subscription on its final day. The Rs 260 crore offer attracted major interest from non-institutional and retail investors, with significant bids surpassing the available shares, showcasing robust market confidence.

Deepak Builders & Engineers India's initial public offering ended on a high note, garnering a staggering 41.54 times subscription. The Rs 260 crore share offering saw bids for over 37 crore shares, vastly exceeding the 89 lakh shares on offer.

Non-institutional investors showed significant interest with 82.47 times subscription, while retail investors subscribed 39.79 times over. Qualified institutional buyers weren't far behind, with 13.91 times the shares allocated for them.

The IPO initially saw 4.12 times subscription on its first day. It includes a fresh issue of 1.07 crore equity shares and an offer for sale of 21.10 lakh shares, priced between Rs 192 and Rs 203 per share. Fedex Securities Pvt Ltd is the book-running lead manager.

(With inputs from agencies.)