Davin Sons Retail shares listed on the BSE SME platform at a discount of 20 percent on January 9, following nearly 115 times subscription to its Rs 9-crore issues.
The shares of Davin Sons Retail were listed at Rs 44 per share on the BSE SME platform, a discount of 20 percent to its IPO price. The company's market market valuation post listing of shares stood at Rs 24.31 crore. The SME IPO worth Rs 8.78-crore was priced at Rs 55 per share.
Davin Sons Retail makes and designs readymade garments including jeans, denim jackets, and shirts for other brands.
The net issue proceeds of the Delhi-based company will be utilised for purchase of warehouse, requirement of working capital, and general corporate purposes.
The maiden public issue of Davin Sons Retail received healthy demand from the investors. The investors bid for a total of 114.64 times on the final day of the issue which was open between January 2 - 6 in the primary market.
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As per the subscription data on the BSE, investors put in bids for 18.29 crore equity shares against the issue size of 15.96 lakh shares via 69,101 applications. Retail investors bought 164.78 times their reserved portion, while institutional and non-institutional investors picked 76.91 times their allocated quota.
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