2 days Ago By NDTV Profit News
Davin Sons Retail Ltd. is all set to launch its initial public offering on Jan. 2.
The company, engaged in the business of manufacturing and retailing a varied range of garments, aims to raise Rs 8.78 crore through the issuance of shares in the primary market. The application window for this BSE SME issue will be open till Jan.
6. Those interested in the Davin Sons Retail IPO must check out these key details before applying. Davin Sons IPO consists of an entirely fresh issue of 15.
96 lakh shares, offered at a fixed price of Rs 55 with a face value of Rs 10 apiece. The allotment of shares in the public offer is slated to be finalised on Jan. 7 followed by initiation of refunds for the non-allottees on Jan.
8. Credit of shares into the demat account of successful bidders in Davin Sons IPO will also be done on Jan. 8.
Shares of Davin Sons Retail Ltd. are proposed to be listed on the BSE SME platform on Jan 9. The company has reserved 50% of the net issue for retail investors whereas the remaining half has been kept aside for other categories of investors.
Retail investors may bid in the IPO with a minimum lot size of 2,000 shares, totalling an investment of Rs 1,10,000 per application. Davin Sons Retail Ltd. has named Navigant Corporate Advisors Ltd.
as the sole book-running lead manager for its issue whereas Kfin Technologies Ltd. is its registrar. Aftertrade Broking Pvt.
is the market maker for Davin Sons IPO. Davin Sons SME IPO saw a lukewarm response in the unlisted market ahead of its launch. The grey market premium on the company's shares was Rs 0 at 5:04 a.
m. on Jan. 2, 2025.
According to InvestorGain, Davin Sons Retail Ltd. shares are likely to make a flat listing at its fixed price of Rs 55. However, the GMP trend may change once the IPO opens for subscription.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation. Davin Sons Retail Ltd. is engaged in the business of manufacturing and designing a range of high-quality readymade garments for different brands.
Its businesses can be broadly classified into two verticals – manufacturing of readymade garments on a job work basis and distribution of FMCG products. The company, incorporated in March 2022, operates in multiple states including Haryana, Delhi, Punjab, Rajasthan, Gujarat, Bihar, and Chhattisgarh. Davin Sons Retail Ltd.
has proposed to use the net proceeds from the IPO to fund its capital expenditure on the purchase of a warehouse and other working capital requirements. A portion of the funds will be used for general corporate purposes. Davin Sons Retail Ltd.
posted a revenue of Rs 6.3 crore in the first half of the ongoing financial year with a net profit of Rs 73.59 lakh.
The company has shown strong growth momentum over the last couple of years, with revenues rising 242% year-on-year to Rs 13.3 crore in FY24 from Rs 3.91 crore in FY23.
The company's net profit also rose sharply by 190% to Rs 1.64 crore in FY24 from Rs Rs 56.62 lakhs in FY23.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids..
