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D Development Engineers IPO, launched last week, got a bumper listing today after a great response from investors. The company's shares hit the market today with a premium of more than 60 percent. Shares of D Development Engineers traded at a premium of more than 67 percent to Rs. 339 on the NSE on Wednesday. Shares traded at a premium of more than 60 percent to Rs. 325 on the BSE.
Received more than 100 times subscription
The IPO was oversubscribed 2.66 times on the very first day. After the closure of this IPO, the QIB category received the highest subscription of 206.54 times. Whereas in the NII category it was subscribed 149.38 times. In the retail category, the IPO was subscribed 23.66 times. Overall, the IPO of D Development Engineers was subscribed 103.03 times.
Around 40% premium in grey market
The great response received by this IPO also had an impact on the grey market. Before the formal launch in the market, the company's shares were trading at a premium of about 40 percent in the grey market. It was evident that after the IPO, the stock is going to get a good listing and IPO investors will get a good amount.
IPO of around Rs 420 crore
After opening on June 19, the IPO of D Development Engineers was available for subscription till June 21. The company had aimed to raise Rs 418.01 crore through this IPO. This IPO included Rs. 325 crore in the issue of new shares. Apart from this, the IPO also included an offer for sale of Rs 93.01 crore.
Strong earnings for investors
One lot of this IPO consisted of 73 shares, while the company had raised Rs. 193 to Rs. 203 price band was fixed. That is, investors needed a minimum of Rs 14,819 to subscribe to this IPO. Today, after listing on NSE, the price of one lot has become Rs 24,747. That is, investors of this IPO have earned Rs 9,928 on each lot.