Davin Sons IPO Itemizing: Higher Circuit, nonetheless large lack of 16%, examine enterprise well being earlier than promoting shares – INA NEWS
Davin Sons IPO Itemizing: Shares of Devin Sons, which manufactures readymade clothes for different manufacturers, had a lackluster entry on BSE SME right this moment and the higher circuit stage can be such that IPO traders couldn’t make earnings right this moment. Retail traders had invested some huge cash in its IPO and on their very own it acquired greater than 120 instances the general bid. Beneath the IPO, shares have been issued at a value of Rs 55. Immediately it entered on BSE SME at Rs 44.00, which suggests IPO traders didn’t get any itemizing achieve (Davin Sons Itemizing Acquire) however solely 20 p.c capital misplaced. Shares went up after itemizing. It jumped and reached the higher circuit of Rs 46.20 (Davin Sons Share Worth), which suggests IPO traders at the moment are at a lack of 16.36 p.c.
Davin Sons IPO acquired sturdy response
Devin Sons’ ₹8.78 crore IPO was open for subscription from January 2-6. On the premise of retail traders, this IPO acquired an amazing response from traders and general it was subscribed 120.8 instances. On this, the half reserved for retail traders was stuffed 164.78 instances. Beneath this IPO, 15.96 lakh new shares with face worth of Rs 10 have been issued. The corporate will use the cash raised by means of these shares for capital expenditure for buy of warehouse, assembly working capital necessities and for basic company functions.
About Davin Sons
Devin Sons, shaped in March 2022, manufactures high-quality ready-made clothes reminiscent of denims, denim jackets and shirts for different manufacturers. Aside from this, additionally it is a distributor of FMCG merchandise. Speaking concerning the monetary well being of the corporate, it had made a internet revenue of Rs 56.62 lakh within the monetary 12 months 2023, which jumped to Rs 1.64 crore within the subsequent monetary 12 months 2024. Throughout this era, the corporate’s income elevated at a compound progress price (CAGR) of greater than 242 p.c to Rs 13.39 crore. Speaking concerning the present monetary 12 months 2024-25, within the first half April-September 2024, it has achieved a internet revenue of Rs 73.59 lakh and a income of Rs 6.34 crore.
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Davin Sons IPO Itemizing: Higher Circuit, nonetheless large lack of 16%, examine enterprise well being earlier than promoting shares
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