Davin Sons IPO Listing: Shares of Devin Sons, which manufactures readymade garments for other brands, had a lackluster entry on BSE SME today and the upper circuit level is also such that IPO investors could not make profits today. Retail investors had invested a lot of money in its IPO and on their own it got more than 120 times the overall bid. Under the IPO, shares have been issued at a price of Rs 55. Today it entered on BSE SME at Rs 44.00, which means IPO investors did not get any listing gain (Davin Sons Listing Gain) but only 20 percent capital loss. Shares went up after listing. It jumped and reached the upper circuit of Rs 46.20 (Davin Sons Share Price) and closed at the same i.e. IPO investors are in 16.36 percent loss.
Davin Sons IPO got strong response
Devin Sons’ ₹8.78 crore IPO was open for subscription from January 2-6. On the basis of retail investors, this IPO got a tremendous response from investors and overall it was subscribed 120.8 times. In this, the half reserved for retail investors was filled 164.78 times. Under this IPO, 15.96 lakh new shares with face value of Rs 10 have been issued. The company will use the money raised through these shares to meet capital expenditure for purchase of warehouse, working capital requirements and for general corporate purposes.
About Davin Sons
Devin Sons, formed in March 2022, produces high-quality ready-made garments such as jeans, denim jackets and shirts for other brands. Apart from this, it is also a distributor of FMCG products. Talking about the financial health of the company, it had made a net profit of Rs 56.62 lakh in the financial year 2023, which jumped to Rs 1.64 crore in the next financial year 2024. During this period, the company’s revenue increased at a compound growth rate (CAGR) of more than 242 percent to Rs 13.39 crore. Talking about the current financial year 2024-25, in the first half April-September 2024, it has achieved a net profit of Rs 73.59 lakh and a revenue of Rs 6.34 crore.