Deepak Builders IPO Surges with Overwhelming Demand

Deepak Builders & Engineers India's IPO was heavily oversubscribed on day two, receiving 12 times the available shares. The retail investor portion was subscribed 15.93 times, with an overall subscription of 4.12 times on the first day. The offer includes fresh equity shares and an offer for sale.

The initial public offering (IPO) of Deepak Builders & Engineers India Ltd saw an overwhelming response, being subscribed 12 times on the second day of trading.

According to the National Stock Exchange (NSE) data, the Rs 260 crore share sale received bids for 10,75,78,932 shares compared to the 89,67,061 shares on offer.

On the first day, the IPO was subscribed 4.12 times. Retail Individual Investors filled 15.93 times their portion, while Qualified Institutional Buyers subscribed at 1.08 times. The offer price is set between Rs 192 and Rs 203 per share, with Fedex Securities Private Ltd as the lead manager.

(With inputs from agencies.)