The initial public offering (IPO) of Deepak Builders & Engineers will open for bidding between October 21(Monday) and October 23 (Wednesday). The construction company will be offering its shares in the range of Rs 192-203 apiece, for which investors can apply for a minimum of 73 equity shares and multiples thereafter.
Incorporated in September 2017, Deepak Builders & Engineers India 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.
The IPO of Deepak Builders & Engineers include a fresh share sale of 1,07,00,000 equity shares worth Rs 217.21 crore, while an offer-for-sale (OFS) of up to 21,10,000 equity shares by its promoters Deepak Kumar Singhal and Sunita Singhal amounting to Rs 42.83 crore. At the upper end of the price band, the company is looking to raise Rs 260.04 crore via IPO.
The net proceeds from the fresh issue shall be utilised towards repayment/prepayment, in full or part, of certain borrowings availed by the Company; funding of working capital requirements of the company; and general corporate purposes. Proceeds from OFS shall go to the selling shareholders, while the anchor book for issue opens on Friday, October 18.
Deepak Builders has completed turnkey projects encompassing architectural, structural, civil, MEP, firefighting systems, public health services, IT systems, operation theaters, medical gas pipelines, and landscaping. It has completed construction and infrastructure projects in four states – Punjab, Haryana, Rajasthan, Uttarakhand – and 2 Union Territories – Chandigarh and Delhi.
For the quarter ended on June 30, 2024, Deepak Builders & Engineers reported a net profit of Rs 14.21 crore with a revenue of Rs 106.34 crore. The company clocked a net profit of Rs 60.41 crore with a revenue of Rs 516.74 crore for the financial year ended on March 31, 2024.
Fedex Securities is the 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.
