Deepak Builders & Engineers india is scheduled to finalise share allotment basis on Thursday, October 24. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Friday, October 25. The construction company had received a mixed response from the investors.
The IPO of Deepak Builders & Engineers was open for bidding between October 21 and October 23. The company had offered its shares in the fixed price band of Rs 192-203 per share with a lot size of 73 shares. It raised about Rs 260.04 crore via its primary offering, which included a fresh share sale of Rs 217.21 crore and an offer-for-sale (OFS) of 21.10 lakh equity shares.
The issue saw a mixed bidding and was overall subscribed 41.54 times. The quota for non-institutional investors (NIIs) was booked 82.47 times. The portion reserved for retail investors saw bidding for 39.79 times. The allocation for qualified institutional bidders (QIBs) was booked 13.91 times during the three-day bidding process.
Grey market premium (GMP) of Deepak Builders & Engineers has taken a hit after a muted bidding from the QIB investors. Last heard, the company was commanding a premium of Rs 50 per share, suggesting a listing pop of around 25 per cent for the investors on listing. The GMP on the last day of the bidding stood at Rs 60.
Deepak Builders & Engineers India, incorporated in September 2017, is a construction company specializing in administrative, institutional, and industrial buildings, hospitals, stadiums, residential complexes, and other construction activities. Its business can be categorized into construction projects; infrastructure projects business; and sale of products.
Brokerages have a positive view on the issue and suggest subscribing for a long term on the back of rising market demand, governments push on infra, strong order book and robust growth potential. However, dependence on government for orders, delays in projects, revenue from select clients and geographical concentration are the major risks for the company.
Fedex Securities is sole book running lead manager of the Deepak Builders & Engineers IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Monday, October 28 as the tentative date of listing.
Investors, who had bid for the issue of Deepak Builders & Engineers India, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Deepak Builders & Engineers India Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.