Considering the upper price band of Rs 60, the stock is expected to see a listing premium of 9% over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO, which was completely a fresh equity sale of 15.96 lakh shares, received a decent response of 120 times at close.
The net proceeds from the IPO will be utilized to finance capital expenditures for the purchase of a warehouse, partially fund working capital requirements, and support general corporate purposes.
Davin Sons is engaged into the business of manufacturing and designing of readymade garments offering diverse range of high-quality jeans, denim jackets and shirts for other brands.Its garment manufacturing process includes cutting, stitching, sewing, finishing, inspection and packing. The company outsources the entire garments manufacturing on job work basis from third party contractors from time to time and provides the technical specifications such as designs, pattern, quality, fabric etc. to them who, based on specifications, procure the requisite raw materials and begin the manufacturing process.The products delivered to the company from third party contractors are completely finished and packaged to the warehouse. The company has a client base in Delhi, West Bengal, Uttar Pradesh and Bihar from where we are getting regular orders for its garments.
The company posted revenue of Rs 13.39 crore in 2024 against Rs 3.91 crore in 2023, while the profit after tax for 2024 was Rs 1.64 crores against a profit of Rs 0.57 crore in 2023.
