On Thursday, Davin Sons Retail’s share price was listed at ₹44, 20% lower than its issuance price on the BSE SME. The issue, which began on January 2, 2025, and ended on January 6, 2025, garnered a tremendous response, with 120.8 subscriptions.
Davin Sons Retail’s share price fluctuated from ₹41.90 to ₹46.20. The share price increased by 5% to ₹46.20, which was also inside the upper price zone.
By the end of the subscription period, the issue had been subscribed to 164.78 times in the retail category, 0 times in QIB, and 66.1 times in the NII category.
Davin Sons’ IPO raised ₹8.78 crores with a fixed price and a total of 15.96 lakh new shares. The Davin Sons IPO price was ₹55 per share, with a minimum lot size of 2000.
The grey market premium (GMP) for Davin Sons IPO was +₹5. This meant that David’s Sons shares were traded in the grey market at a premium of ₹5 above their issue price. Market participants expected Davin Sons Retail shares to be listed at ₹60, representing a 0.09% premium above the issue price of ₹55.
Davin Sons Retail Limited, created in March 2022, manufactures and designs a wide range of luxury ready-made apparel items, including shirts for other brands, denim jackets, and jeans.
The company has two business verticals, including the creation of ready-made garments on a job-by-job basis. The other vertical is FMCG product distribution.
The firm works throughout Haryana, Delhi, Punjab, Arunachal Pradesh, Rajasthan, Gujarat, Bihar, and Chhattisgarh, where it has a diverse consumer base.
Davin Sons Retail Ltd intends to use the net proceeds from the Issue to fund the following objectives and reap the benefits of listing the equity shares on the BSE SME.
The majority of the funds will be used to finance the capital expenditure for the purchase of the warehouse. A portion will also be used to finance the need for working capital.
