Devin Sons IPO is a fixed price issue of Rs 8.78 crore which is a completely fresh issue of 15.96 lakh shares. This SME IPO, which opened for subscription on January 2, will close on January 6. Allotment of shares will be finalized on January 7. Shares will be credited or refunded in the demat account on January 8. The company's shares will be listed on BSE, SME on January 9.

Devin Sons IPO Subscription Status

This IPO was subscribed 2.72 times on the first day of subscription (January 2). The retail category was subscribed 4.89 times and the NII category was subscribed 0.55 times.

Investors showed great interest in the issue on the second day of subscription and the issue was subscribed 12.53 times overall. The retail category was booked 22.03 times and the NII category 3.03 times.

About 50% of the offer is reserved for retail investors and 50% for other investors.

Devin Sons Retail IPO GMP

According to market analysts, the Davin Sons SME IPO GMP in the unlisted market is Rs 15, which is 27.2 percent higher than the cap price. This is also the highest GMP of this IPO.

Devin Sons Retail IPO Price Band

The price of Davin Sons IPO is Rs 55 per share. The minimum lot size with a single application is 2000 shares and the minimum investment amount for retail investors is Rs 1 lakh 10 thousand.

About the Company

Devin Sons Retail Limited manufactures and designs a wide range of high quality readymade garments, including jeans, denim jackets and shirts for other brands.

The company has two business verticals - manufacturing of readymade garments on job work basis and distribution of FMCG products. The company operates in the states of Haryana, Delhi, Punjab, Arunachal Pradesh, Rajasthan, Gujarat, Bihar and Chhattisgarh.

Financial Performance of Devin Sons Retail Limited

Devin Sons Retail Limited's revenue grew by 242% and profit after tax (PAT) grew by 190% between the financial year ending March 31, 2024 and March 31, 2023.

The company's revenue in FY24 was Rs 13.39 crore and profit after tax was Rs 1.64 crore. In the current financial year, the company's revenue for the period ended September 30 is Rs 6.34 crore and profit after tax is Rs 73.59 lakh. The company will use the net proceeds from this issue to purchase warehouse, meet working capital requirements, meet general corporate purposes. Also proposes to receive the benefits of listing equity shares on BSE SME. Navigant Corporate Advisors Limited is the book running lead manager of Devin Sons IPO. KFin Technologies Limited is the registrar to the issue.