Davin Sons Retail share price sees a weak debut as lists 20% lower on the BSE SME at ₹44

Davin Sons Retail share price listed 20% lower than the issue price on the BSE SME at ₹44 on Thursday. The issue that started from January 2, 2025 and ended on January 6, 2025, had received a strong response being subscribed 120.8 times

Davin Sons Retail share price thereafter ranged from lows of ₹41.90 and high of ₹46.20. ₹46.20 marked gains of 5% on the listing price, which also was the upper price band for the share price

The isssue had been subscribed 164.78 times in the retail category, Nil times in QIB, and 66.1 times in the NII category by close of subscription

Davin Sons IPO was a fixed price issue of ₹8.78 crores, which comprised of  entirely fresh issue of 15.96 lakh shares. The Davin Sons IPO price stood at ₹55 per share while minimum lot size for an application was 2000.

The grey market premium or GMP for Davin Sons IPO stood at + ₹5. This meant that David Sons shares were being trades in the grey market at a premium of ₹5 above the issue price. Also this meant that Market participants were anticipating listing of Davin Sons Retail shares at ₹60 , 0.09% premium over the issue price of ₹55

Davin Sons Retail Limited was founded in March 2022 and produces and designs a variety of premium ready-made clothing items, such as shirts for other companies, denim jackets, and jeans.

There are two business verticals within the company: These inlude production of ready-made clothing on a job-by-job basis. The other vertical is that of FMCG product distribution.

The states where the business operates  include Haryana, Delhi, Punjab, Arunachal Pradesh, Rajasthan, Gujarat, Bihar and Chhattisgarh, where various customers are present.

Davin Sons Retail Ltd plans to utilize the net proceeds from the Issue towards funding the below mentioned objectivess and achievingthe benefits of listing the equity shares on the BSE SME.

While majr part is plnned to finance the Capital Expenditure for the purchase of the Warehouse. a part will also be used to part finance the requirement of Working Capital

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