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Deepak Builders & Engineers IPO is a book-built issue of Rs 260.04 crores. It consists of a fresh issue of 1.07 crore shares aggregating Rs 217.21 crores and an offer for sale of 0.21 crore shares aggregating Rs 42.83 crore.
The IPO opens for subscription on October 21, 2024, and closes on October 23, 2024. The price band for the IPO is set at ₹192 to ₹203 per share and the minimum lot size for an application is 73 Shares.
Company Summary
Incorporated in September 2017, Deepak Builders & Engineers India Limited is a construction company specializing in administrative, institutional, and industrial buildings, hospitals, stadiums, residential complexes, and other construction activities.
The company has completed turnkey projects encompassing architectural, structural, civil, MEP, firefighting systems, public health services, IT systems, operation theaters, medical gas pipelines, and landscaping.
The company’s business can be categorized into the following verticals:
- Construction Projects business;
- Infrastructure Projects business; and
- Sale of products.
The company has completed construction and infrastructure projects in four states of India – Punjab, Haryana, Rajasthan, Uttarakhand – and two Union Territories – Chandigarh and the National Capital Territory of Delhi.
The company manages twelve projects, including seven EPC projects and five item rate/percentage rate contracts. Within the ongoing projects, the construction portfolio consists of four hospital and medical college projects, one administrative & and institutional building, and one industrial building. The infrastructure projects include four projects focused on upgrading, developing, and redeveloping railway stations and related work, as well as two road and bridge projects related to rail over bridges.
As of June 30, 2024, the company’s order book amounts are as follows: Rs 13,803.89 million for Fiscal 2024, Rs 11,126.88 million for Fiscal 2023, and Rs 16,578.79 million for Fiscal 2022, and Rs 7,196.32 million for Fiscal 2021.
Company Strengths
- High-quality construction projects are achieved with the use of technology, efficient processes, and a dedicated workforce.
- Investing in modern construction equipment fleets enables the timely delivery of high-quality infrastructure development and construction projects.
- Experienced Management Team
- As of June 30, 2024, the company has 632 permanent employees and 2129 contract laborers.
Company Financials
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 641.1 | 558.75 | 449.3 | 322.18 |
| Revenue | 106.34 | 516.74 | 435.46 | 364.99 |
| Profit After Tax | 14.21 | 60.41 | 21.4 | 17.66 |
| Net Worth | 155.81 | 141.25 | 89.35 | 70.34 |
| Reserves and Surplus | 138.23 | 124.22 | 64.66 | 48.84 |
| Total Borrowing | 153.17 | 153.04 | 96.57 | 79.65 |
Amount in ₹ Crore | ||||
Objectives of the IPO
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Repayment/prepayment, in full or part, of certain borrowings availed by the Company
- Funding of working capital requirements of the company
- General corporate purposes.
Promoters of the company: Deepak Kumar Singal and Sunita Singal are the Promoters of our Company.
IPO details
| IPO Date | October 21, 2024 to October 23, 2024 |
| Listing Date | Monday, October 28, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹192 to ₹203 per share |
| Lot Size | 73 Shares |
| Total Issue Size | 12,810,000 shares (aggregating up to ₹260.04 Cr) |
| Fresh Issue | 10,700,000 shares (aggregating up to ₹217.21 Cr) |
| Offer for Sale | 2,110,000 shares of ₹10 (aggregating up to ₹42.83 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details:
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 73 | ₹14,819 |
Retail (Max) | 13 | 949 | ₹192,647 |
S-HNI (Min) | 14 | 1,022 | ₹207,466 |
S-HNI (Max) | 67 | 4,891 | ₹992,873 |
B-HNI (Min) | 68 | 4,964 | ₹1,007,692 |
Allotment Schedule
| Basis of Allotment | Thursday, October 24, 2024 |
| Initiation of Refunds | Friday, October 25, 2024 |
| The credit of Shares to Demat | Friday, October 25, 2024 |
| Listing Date | Monday, October 28, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 23, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
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