Deepak Builders & Engineers to Launch it’s IPO

Key Takeaways from the IPO

• Deepak Builders & Engineers India Limited will issue 12.81 million equity shares through its IPO, which includes both a fresh issue and an offer for sale.
• Proceeds from the IPO will be used to repay borrowings, fund working capital requirements, and for general corporate purposes.
• The IPO will be open for public bidding from October 21, 2024, to October 23, 2024, with anchor investors bidding on October 18, 2024.

The total offer size will comprise 12.81 million equity shares. Investors can expect the IPO to open for subscription on October 21, 2024, with anchor investors getting early access from October 18, 2024. The bidding period for the general public will close on October 23, 2024.

The price band for the IPO is set between ₹192 and ₹203 per equity share, and retail investors can place bids for a minimum lot size of 73 shares. Each subsequent bid must be in multiples of 73 shares. Retail investors have a cap of ₹2,00,000 for maximum subscription amounts. The IPO is expected to raise funds for key objectives, including the repayment of certain outstanding borrowings, funding the company’s working capital needs, and general corporate purposes.

Apportionment: 50% of the issue to Qualified Institutional Buyers (QIBs); 15% shall be to the non-institutional investors; and the rest 35% for retail individual bidders. The IPO will adopt 100% book-building, and offers will be accepted within the market hours of the IPO, that is, from 10:00 a.m. to 5:00 p.m., during the offer period. Fedex Securities Private Limited is the bookrunning lead manager for this IPO, and HDFC Bank and ICICI Bank act as sponsor banks.

Proceeds from the fresh issue will be utilised for debt repayment, working capital, and other general corporate purposes, positioning Deepak Builders to strengthen its balance sheet and fund future growth initiatives. This IPO presents an attractive opportunity for a range of investors, especially those looking to invest in the construction and engineering sectors.

About Deepak Builders & Engineers India Limited

Incorporated in September 2017, Deepak Builders & Engineers India Limited is a construction company specialising in administrative, institutional, and industrial buildings. hospitals, stadiums, residential complexes, and more. The company delivers turnkey projects involving architectural, structural, civil, MEP, firefighting systems, public health services, IT systems, operation theatres, medical gas pipelines, and landscaping.

The company has completed projects in Punjab, Haryana, Rajasthan, Uttarakhand, Chandigarh, and the National Capital Territory of Delhi. It currently manages twelve projects, including seven EPC projects and five item rate/percentage rate contracts. Its ongoing portfolio includes hospital, medical college, administrative, industrial, and railway-related infrastructure projects.

Key Takeaways from the Announcement 

• Airtel is the first telecom provider to offer uninterrupted 5G connectivity on Mumbai Metro Line-3 (Aqua Line).
• The Aqua Line connects BKC to Aarey and spans a total length of 33.5 kilometres.
• Passengers will benefit from fast mobile internet and clear voice calls throughout their journey.

This infrastructure in the making focuses on connecting the financial hub of Bandra Kurla Complex (BKC) with Aarey, passing through the critical Jogeshwari-Vikhroli Link Road (JVLR) segment.

The Aqua Line is going to be the first underground metro system of the city. It is going to change the face of urban transport in Mumbai. The entire stretch of the metro line stretches over 33.5 kilometres and will effectively connect key transit hubs, including the iconic Terminal 2 (T2) airport and the vibrant Santacruz neighbourhood.

Throughout the entire route, Airtel has reinforced 5G capabilities to ensure that passengers receive the fastest mobile internet, uninterrupted voice calls, and seamless data transfer.

Focused on in-building solutions that will be specific to each of the ten underground metro stations, such efforts promise to transform the commuter experience into an experience passengers can take with them on their daily commutes while remaining connected.

About Bharti Airtel Limited

Airtel is a global communications solutions provider with over 550 million customers across 17 countries in South Asia and Africa. It ranks among the top three mobile operators globally, covering over two billion people. Airtel's portfolio includes high-speed 4G/5G mobile broadband, Airtel Xstream Fiber, and various enterprise solutions.

Key Takeaways from the Approval

• Alembic Pharmaceuticals received USFDA final approval for Diltiazem Hydrochloride Extended-Release Capsules USP (120 mg, 180 mg, and 240 mg).
• The estimated market size for this product is around US$ 28.2 million.
• Alembic now has a total of 217 ANDA approvals from the USFDA.

This approved ANDA is therapeutically equivalent to the reference-listed drug product (RLD), Dilacor XR Extended-Release Capsules, marketed by Allergan Sales LLC.

Diltiazem Hydrochloride Extended-Release Capsules are used in the treatment of hypertension and can be used in monotherapy or in conjunction with other antihypertensive drugs, including diuretics. They are also used for chronic stable angina. The estimated Market Size of Diltiazem Hydrochloride Extended-Release Capsules is approximately US$ 28.2 million for the twelve months ending June 2024, according to estimates from IQVIA.

With this approval, Alembic Pharmaceuticals has achieved a cumulative total of 217 ANDA approvals from the USFDA, including 190 final approvals and 27 tentative approvals.

About Alembic Pharmaceuticals Limited

Alembic Pharmaceuticals Limited, with origins in India since 1907, is one of the most recognised companies in healthcare. It manufactures and markets generic pharmaceutical products around the world. The research and manufacturing facilities of Alembic are accredited by the regulatory authorities of many developed countries including the USFDA. The company is India's leader in branded generics with a marketing team that exceeds 5,000 professionals to promote its well-respected brands among doctors and patients.

Key Takeaways from Godrej Properties Project Acquisition:

• Godrej Properties has acquired nearly 3 acres of land in Vastrapur, Ahmedabad, announced on October 21.  
• The site is expected to provide around 0.9 million square feet of saleable area, primarily for premium residential apartments.  
• The estimated booking value for the project is approximately Rs 1,300 crore.  
• Vastrapur is a premium area known for its strong social infrastructure, proximity to top schools, healthcare facilities, and landmarks like IIM Ahmedabad and Vastrapur Lake Garden, as well as accessibility to business hubs.  

The site is expected to yield around 0.9 million square feet of saleable area. It primarily comprises premium residential apartments. 

The location is a premium residential area in West Ahmedabad, known for its excellent social infrastructure and connectivity to key city areas. It is near top schools, healthcare facilities, and notable landmarks such as IIM Ahmedabad and Vastrapur Lake Garden.

Additionally, the area’s accessibility to business hubs like Navratna Business Park enhances its appeal for modern living.

Gaurav Pandey, MD & CEO of Godrej Properties commented, “We are happy to add our second project in Ahmedabad. This will further strengthen our presence in Ahmedabad and complement our strategy of deepening our presence in key micro-markets across India's leading cities.”

About Godrej Properties Limited:

Godrej Properties embodies the Godrej Industries Group's philosophy of innovation, sustainability, and excellence within the real estate sector. With a legacy spanning 127 years, each development reflects a commitment to cutting-edge design and technology. In FY 2024, Godrej Properties became the largest residential developer in India by sales value, emphasizing its strong focus on sustainable practices. Since 2010, the company has pledged that all its developments will be third-party-certified green buildings.

Recognized for its sustainability and governance, Godrej Properties has consistently topped the Global Real Estate Sustainability Benchmark, ranking #1 among listed residential developers in 2020, 2021, and 2022. As a founding partner of the Sustainable Housing Leadership Consortium (SHLC) in 2017, the company promotes sustainable development across the Indian real estate market. Over the years, Godrej Properties has garnered more than 400 awards, including Developer of the Year at the GRI India Awards 2024 and the Most Trusted Real Estate Brand in the 2019 Brand Trust Report.