Tue Oct 22 16:06:51 UTC 2024: **Summary of Deepak Builders and Engineers IPO News Article:**

– **IPO Launch**: Deepak Builders and Engineers Ltd launched its initial public offering (IPO) on October 21, 2024, with a target size of Rs 260 crore.

– **Quick Subscription**: The IPO was fully subscribed within 1.5 hours of opening, with total bids reaching 3,73,30,740 shares, significantly exceeding the 89,67,061 shares available, resulting in a subscription rate of 4.16 times.
– Retail quota: 6.20 times subscribed
– Non-institutional investors (NII): 4.27 times subscribed
– Qualified Institutional Buyers (QIB): 0.52 times subscribed

– **Key Dates**: The IPO will be open for public subscription from October 21 to October 23. Allotment is expected on October 24, with shares listing on BSE and NSE on October 28.

– **Price Band and Lot Size**: The price band is set between Rs 192 and Rs 203 per share, with a lot size of 73 shares.

– **Grey Market Activity**: Currently, the grey market premium (GMP) suggests a potential listing gain of approximately 29.56%.

– **Analysts’ Recommendations**:
– Brokerages are generally advising to “subscribe,” particularly for long-term investment.
– Swastika Investmart highlighted risks such as geographic concentration and competition but noted the company’s growth potential.
– BP Wealth recommended a “subscribe” rating for medium to long-term holding, noting the company’s strong track record and competitive P/E ratio.

– **Company Profile**: Established in 2017, Deepak Builders specializes in construction projects including buildings, hospitals, and residential complexes. The company reported a revenue increase of 19% to Rs 516.74 crore and a 182% rise in net profit to Rs 60.41 crore in FY 2023-24.

– **Leadership**: Fedex Securities Pvt Ltd is the book running lead manager, while Kfin Technologies Limited serves as the registrar for the IPO.

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