Mumbai: Deepak Builders & Engineers India Limited, which provides integrated engineering and construction services for diverse projects across India, proposes to open its Initial Public Offering (IPO) comprising 12,810,000 Equity Shares priced at Rs 192 to Rs 203 per share and totally aggregating Rs 260.04 crores
The Issue, which will open on October 21, 2024 and close on October 23, 2024, will be listed on the NSE and BSE platforms.
The Net proceeds from the IPO will be utilized for Repayment/Prepayment — in full or part – of certain borrowings availed by the Company and also funding of working capital requirements.
Describing the Issue as a momentous occasion marking a new chapter in the company’s journey as leader in the infrastructure sector, Deepak Kumar Singal, Chairman & Managing Director, Deepak Builders & Engineers India Limited, said this reflected its commitment to excellence and innovation in delivering high-quality construction and engineering solutions.
He said the Company specializes in execution and construction of administrative & institutional buildings, hospitals and medical colleges, industrial buildings, historical memorial complex, stadium and sports complex, and residential complex.
It has also diversified in specialized structural work like flyovers, approach roads, rail under/over bridges and developing railway stations with strong presence in North India spanning four states and two union territories, he added.
The company’s total order book stands at Rs 13,803.89 million, with their clientele including government, semi-government and government-controlled entities.
In FY24, the Company achieved Revenue of Rs 5,114.02 million, EBITDA of Rs 1,175.39 million and PAT of Rs 604.10 million.
Singal said “The IPO proceeds will be instrumental in enhancing our working capital, enabling us to strategically manage our borrowings and invest in future projects that align with our objectives, besides building a needed sustainable infrastructure and also strengthening our operational capabilities and long-term growth.”
Noting that the IPO aligned perfectly with substantial growth in India’s infrastructure sector, Uday Nair, Director of Fedex Securities Private Limited, said that the company’s portfolio –comprising diverse range of high-quality construction projects — enabled it to capitalize on significant opportunities from increasing government investments and rising demand for infrastructure development.
The Book Running Lead Manager to the Issue is Fedex Securities Private Limited. The Registrar to the Issue is Kfin Technologies Limited.
