Davin Sons Retail Limited to Launch IPO, Aiming for Rs 8.78 Crore

Davin Sons Retail Limited plans to open its IPO on January 2, 2025, raising Rs 8.78 Crore by issuing 15,96,000 shares listed on BSE SME. Proceeds will enhance operations through a new warehouse and expanded markets, strengthening their garment and FMCG business.

Davin Sons Retail Limited, a key player in garment manufacturing and FMCG distribution, announces its Initial Public Offering (IPO) starting January 2, 2025. The company aims to amass Rs 8.78 Crore via the issuance of 15,96,000 equity shares listed on the BSE SME platform. Shares are priced at Rs 55 each, comprising a face value of Rs 10.

The allocation consists of at least 7,58,000 shares reserved for non-institutional and retail investors each, while 80,000 shares are designated for the market maker. Proceeds will fund the acquisition of a warehouse, bolster working capital, and support corporate endeavors, with the IPO window closing on January 6, 2024.

Promoter Mohit Arora emphasized the IPO as a pivotal step forward in Davin Sons Retail's expansion, targeting improved operational efficiency and market reach. Navigant Corporate Advisors, the lead manager, highlights the firm's robust market presence and commitment to growth initiatives.

(With inputs from agencies.)