Deepak Builders IPO receives 4.12 times subscription on 1st day of offer

The initial public offer of engineering and construction company Deepak Builders & Engineers India Ltd received 4.12 times subscription on the first day of subscription on Monday.

The Rs 260 crore initial public offer received bids for 3,69,59,389 shares against 89,67,061 shares on offer, as per NSE data.

The quota for Retail Individual Investors (RIIs) fetched 6.12 times subscription while the category for non-institutional investors got subscribed 4.26 times. The Qualified Institutional Buyers (QIBs) part attracted 52 per cent subscription.

The Initial Public Offer (IPO) has a fresh issue of up to 1.07 crore equity shares and an offer for sale of up to 21,10,000 equity shares.

Price range for the offer is fixed at Rs 192-203 per share.

Fedex Securities Private Ltd is the book running lead manager to the offer.