Davin Sons Retail shares debuted on the BSE SME platform at ₹44 per share on January 9, reflecting a 20% discount to the IPO price, indicating subdued investor sentiment and a weaker-than-expected market response to the listing.
Davin Sons Retail IPO witnessed strong demand on Day 3, achieving a total subscription of 120.8 times. The public issue was subscribed 164.78 times in the retail category and 66.1 times in the Non-Institutional Investors (NII) category.
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Davin Sons Retail Limited, established in March 2022, specializes in designing and manufacturing premium readymade garments such as jeans, denim jackets, and shirts for various brands. Operating in Haryana, Delhi, and other states, its business spans two segments: garment manufacturing on a job-work basis and FMCG product distribution, catering to a widespread customer base.
Davin Sons Retail plans to use ₹1.36 crores for a warehouse, ₹4.22 crores for working capital, and remaining funds for corporate purposes, enhancing market reach, operational efficiency, and growth opportunities.
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