Punjab-based Deepak Builders and Engineers India has finalize the opening date as October 21 for its initial public-offering which is mixture of fresh issue and offer for sale. The company will reveal its price band details in the next couple of days.
The last day of IPO subscription will be October 23, while the anchor book for institutional investors will be launch on coming October 18, a day before the issue opening.
The engineering and constructions plans to issue 1.07 crore equity shares through fresh issue and 21.1 lakh shares will be issue through offer-for-sale.
Deepak Kumar and his wife, who are the promoters of the company, will be selling shareholders in the offer-for-sale. They both hold nearly 100 percent stake in the company
Deepak Builders is competing with the lister peers like IRCON International, Ahluwalia Contracts, PSP Projects and ITD cementation which undertakes construction and infrastructure projects having an orderbook of Rs. 1,380.4 crore as of the month of June 2024.
Presently, there are 12 ongoing projects including 6 projects, each from construction and infrastructure segments.
The company plans to spend Rs.30 crore out of the net fresh issue funds for repaying the debts of Rs. 111.96 crore of the working capital requirements and the rest of the money is for general corporate purposes.
On the financials front, it recorded the net profit at Rs. 60.4 crore for the year ended in the month of March, 2024 by growing significantly by 182.4 percent from Rs. 21.4 crore in the previous fiscal with increasing revenue by 18% to Rs. 511.4 crore during the same period. EBITDA (earnings before interest, tax, depreciation, and amortization) jumped Rs 120.5 percent on-year to 112.2 crore with margin expanding by 1,020 bps to 21.9 percent in the fiscal 2024.
In the months of April-June quarter of fiscal 2025, profit stood at Rs. 14.2 crore on revenue of Rs.105.1 crore.
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