Davin Sons Retail shares debuted on the BSE SME platform at Rs 44 per share, a 20% discount from the IPO price of Rs 55. The company’s post-listing market valuation is Rs 24.31 crore. Despite the IPO being valued at Rs 8.78 crore, the shares listed lower than expected, indicating a negative market response.
Davin Sons IPO Subscription Status
The subscription data for Davin Sons IPO reveals a strong demand, with investors bidding for 18.29 crore equity shares, significantly higher than the issue size of 15.96 lakh shares, through 69,101 applications. Retail investors demonstrated exceptional interest, subscribing 164.78 times their reserved portion, while institutional and non-institutional investors oversubscribed their respective quotas by 76.91 times. This high level of subscription indicates substantial investor confidence, despite the shares listing at a discount.
Davin Sons IPO GMP
Ahead of its listing, Davin Sons Retail’s shares were trading at a Grey Market Premium (GMP) of Rs 5. This indicated that the shares were expected to list at a slight premium over the issue price. However, despite the positive market sentiment reflected in the GMP, the shares debuted at a 20% discount on the BSE SME platform, marking a deviation from the anticipated listing price.
Details About Davin Sons IPO
The Davin Sons IPO, opening for subscription from January 2 to 6, 2025, offers 15.96 lakh shares with an issue size of ₹8.78 crores at ₹55 per share. Retail investors can apply for a minimum of 2,000 shares (₹1,10,000), while HNIs must apply for 4,000 shares (₹2,20,000). The company has shown significant growth, reporting a revenue of ₹13.39 crores in 2024, up from ₹3.91 crores in 2023, with a profit of ₹1.64 crores. This IPO presents a promising opportunity for long-term investors.
Davin Sons IPO Dates
| IPO Open Date | Thursday, January 2, 2025 |
|---|---|
| IPO Close Date | Monday, January 6, 2025 |
| Basis of Allotment | Tuesday, January 7, 2025 |
| Initiation of Refunds | Wednesday, January 8, 2025 |
| Credit of Shares to Demat | Wednesday, January 8, 2025 |
| Listing Date | Thursday, January 9, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 6, 2025 |
Davin Sons Company’s Financial Background
Davin Sons reported a significant increase in its financial performance over the past few years. In 2023, the company posted a revenue of ₹3.91 crores, with expenses of ₹3.15 crores and a profit after tax (PAT) of ₹0.57 crores. In 2024, revenue surged to ₹13.39 crores, while expenses increased to ₹11.19 crores, resulting in a PAT of ₹1.64 crores. As of September 2024, the company’s revenue stood at ₹6.34 crores, with expenses of ₹5.35 crores and a PAT of ₹0.74 crores. The company’s assets have also grown, reaching ₹8.83 crores in 2024 and ₹10.36 crores by September 2024.