Deepak Builders & Engineers India Ltd shares listed with a discount of over 2% on the BSE, despite strong IPO subscription. Read more about the company's market performance.
New Delhi, Oct 28 (PTI) Shares of engineering and construction company Deepak Builders and Engineers India Ltd listed with a discount of over 2 per cent against the issue price of Rs 203 on Monday.
The stock listed at Rs 198.50, lower by 2.21 per cent from the issue price on the BSE. Later, in the trade it further fell by 15.81 per cent to Rs 170.90.
At the NSE, it made the debut at Rs 200, down 1.47 per cent.
The company's market valuation stood at Rs 824.71 crore.
The initial public offer of Deepak Builders & Engineers India Ltd received 41.54 times subscription on the last day of the share sale on Wednesday.
The Rs 260-crore share sale had a fresh issue of up to 1.07 crore equity shares and an Offer-for-Sale (OFS) of up to 21,10,000 equity shares.
The price range for the offer was Rs 192-203 per share.
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