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The SME initial public offering (IPO) of Davin Sons Retail, which opened for subscription earlier on Thursday, has been subscribed nearly 5.8 times on the second day of the process. As of 11:15 am, retail investors led the demand, bidding for 82.
10 lakh shares, followed by non-institutional investors (NIIs) with bids for 12.04 lakh shares. Qualified institutional buyers (QIBs) have yet to subscribe to the issue.
Davin Sons Retail IPO’s price band While the face value of an equity share is Rs 10, the company has fixed the price band for the IPO at Rs 55 per share. GMP for Davin Sons Retail IPO Davin Sons Retail’s unlisted shares were commanding a premium (GMP) of Rs 12-15 or 22% in the grey market. Stock Trading Masterclass on Value Investing and Company Valuation View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.
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The IPO allotment is expected to be finalized on January 7, while the shares will list on BSE SME platform with a tentative listing date fixed as January 9. Issue size of Davin Sons Retail IPO Investors can bid for a minimum of 2,000 shares and in multiples thereof. The minimum amount of investment required by retail investors is Rs 1.
10 lakh, while the minimum lot size investment for high net worth individuals is 2 lots or 4,000 shares amounting to Rs 2.20 lakh. Under the issue, a quota of at least 7.
58 lakh equity shares has been allocated to the non-institutional investors (NIIs), while the retail individual investors quota also stands at least 7.58 lakh equity shares. As for the Market Maker segment, the company has set aside up to 80,000 equity shares.
Also read: DMart shares skyrocket 15% after Q3 update shows 17% YoY revenue growth Proceeds from Davin Sons Retail IPO The net proceeds from the IPO will be utilized to finance capital expenditures for the purchase of a warehouse, partially fund working capital requirements, and support general corporate purposes. About Davin Sons Retail Davin Sons Retail Limited, established in March 2022, specializes in designing and manufacturing high-quality readymade garments, including jeans, denim jackets, and shirts for other brands. The company operates through two key verticals: garment manufacturing on a job-work basis and the distribution of FMCG products.
Its operations span across Haryana, Delhi, Punjab, Arunachal Pradesh, Rajasthan, Gujarat, Bihar, and Chhattisgarh, catering to a widely dispersed customer base in these regions. Davin Sons Retail’s financials The company posted revenue of Rs 13.39 crore in 2024 against Rs 3.
91 crore in 2023, while the profit after tax for 2024 was Rs 1.64 crore against a profit of Rs 0.57 crore in 2023.
Lead manager of Davin Sons Retail IPO The lead manager to the issue is Navigant Corporate Advisors and KFin Technologies is the registrar to the issue. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
