Deepak Builders IPO subscribed 41 times

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The initial public offering of Deepak Builders and Engineers closed with an overall subscription of 41.54 times, as non-institutional and retail investors poured in money.

The IPO came out with a ₹192-203 price band. The ₹260.04 crore comprised a fresh issue (₹217.21 crore) and an OFS (₹42.83 crore). 

QIB portion was subscribed 13.91 times, while retail investors and non-institutions subscribed 39.79 times and 82.47 times, respectively.

The company had raised ₹78.01 crore from five institutional investors through anchor book.

Deepak Builders will use ₹30 crore of the fresh issue proceeds to repay debt, ₹111.96 crore for working capital, and the remaining for general corporate purposes.