DEE Piping Systems IPO: Piping solutions provider DEE Development Engineers Ltd is set to launch its initial public offering (IPO) worth over ₹418 crore this week. DEE Piping Systems IPO will hit the street on June 19.
Before the DEE Piping Systems IPO opens, let us check key details of the issue:
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DEE Piping Systems IPO: 10 key things to know
1] DEE Piping Systems IPO Dates: DEE Piping Systems IPO opens for subscription on Wednesday, June 19, and closes on Friday, June 21.
2] DEE Piping Systems IPO Price Band: DEE Piping Systems IPO price band has been fixed at ₹193 to ₹203 per share. The company is offering a discount of ₹19 per share to its employees.
3] DEE Piping Systems IPO Lot Size: The IPO lot size is 73 shares. The minimum investment amount required by retail investors is ₹14,819.
4] DEE Piping Systems IPO Size: At the upper-end of the price band, DEE Piping Systems IPO size is worth ₹418.01 crore. The issue comprises a combination of fresh issue of 1.6 crore equity shares aggregating to ₹325 crore and an offer for sale (OFS) component of 46 lakh shares aggregating to ₹93.01 crore.
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5] DEE Piping Systems IPO Reservation: In the IPO, the company has reserved 50% of shares for Qualified Institutional Buyers (QIBs), 35% for Retail Investors and 15% for Non Institutional Investors (NII).
6] DEE Piping Systems IPO Allotment: The DEE Piping Systems IPO allotment is expected to be finalized on June 24.
7] DEE Piping Systems IPO Listing: The equity shares of DEE Development Engineers will list on BSE, NSE with tentative listing date fixed as June 26.
8] DEE Piping Systems IPO Objectives: The company proposes to utilise the net issue proceeds for funding working capital requirements prepayment or repayment of all or a portion of certain outstanding borrowings and general corporate purposes.
9] DEE Piping Systems IPO BRLM & Registrar: SBI Capital Markets and Equirus Capital are the book running lead managers of the DEE Piping Systems IPO, while Link Intime India Private Ltd is the IPO registrar.
10] DEE Piping Systems IPO GMP Today: DEE Piping Systems IPO GMP today, or grey market premium today, is ₹50 per share, according to stock market observers. This means that DEE Piping Systems shares are trading high by ₹50, or at a premium of 24.63%, at ₹253 apiece in the grey market, as against the IPO price of ₹203 per share.
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About DEE Development Engineers:
DEE Development Engineers is an engineering company that manufactures and supplies piping products. It provides specialized process piping solutions for oil and gas, power, chemicals, and other process industries.
The company has seven manufacturing facilities in Haryana, Gujarat, Rajasthan, Assam and Thailand, with three manufacturing facilities located in Palwal, Haryana.
Krishan Bansal, Ashima Bansal and DDE Piping Components Private Limited are the promoters of the company.
The company reported a net profit of ₹12.97 crore and a revenue of ₹614.32 crore in FY23 as against a net profit of ₹8.20 crore and revenue of ₹470.84 crore in FY22.
For the nine months ended December 2023, the company’s net profit and revenue were ₹14.34 crore and ₹557.86 crore, respectively.
