Oct 21, 2024
By: Sourabh Jain
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Delhi-based Deepak Builders & Engineers’ initial public offering (IPO) will open on Monday, October 21 and close on Wednesday, October 23.
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Deepak Builders has fixed a price band of ₹192-₹203 per share for its public issue.
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Deepak Builders is a Delhi-based construction company that specialises in building hospitals, and administrative, institutional and industrial buildings.
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Deepak Builders is looking to raise ₹260 crore from the current IPO. This includes a fresh issue of ₹217.21 crore and an offer for sale (OFS) component of ₹42.83 crore.
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Investors can bid for a minimum of 73 shares and in multiples of 73 shares thereafter.
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Deepak Builders, founded in 2017, the company has an order book of INR 1,380 crore as of FY25, including projects from railways, IOCL and more.
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The company’s income was ₹516.74 crore in FY24, up from ₹435.36 crore in FY23. The company reported a profit of ₹60.41 crore in FY24, up from ₹21.4 crore profit reported in FY23.
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The company is heavily reliant on orders from PSUs and government entities such as railways and IOCL. It is also heavily reliant on projects from Punjab, which account for around 30% of its revenue.
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The funds raised will be used for repayment of borrowings, working capital requirements and general corporate purposes.
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