DEE Piping Systems, an engineering company specialising in process piping solutions, has launched its Initial Public Offering (IPO), aiming to raise Rs 418.01 crores. The IPO, open from June 19 to June 21, 2024, consists of a fresh issue of 1.6 crore shares aggregating to Rs 325 crores and an offer for sale of 0.46 crore shares totaling Rs 93.01 crores.
DEE Piping Systems IPO Price BandThe investors can apply for shares within the price band set at Rs 193 to Rs 203 per share. The minimum lot size for retail investors is 73 shares, requiring a minimum investment of Rs 14,819. For sNII investors, the minimum investment is set at 14 lots (1,022 shares), amounting to Rs 207,466, while bNII investors need to invest in 68 lots (4,964 shares), totalling Rs 1,007,692.
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DEE Piping Systems IPO Allotment And Listing DateThe allotment of shares is expected to be finalized by June 24, 2024, with the listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) scheduled for June 26, 2024.
DEE Piping Systems IPO GMPAs per multiple websites that track the grey market premium activities, the shares of Kronox Lab Sciences IPO are commanding a GMP in the price range of Rs 80 – Rs 90 in the unlisted market
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SBI Capital Markets Limited and Equirus Capital Private Limited are the book-running lead managers for the IPO, with Link Intime India Private Ltd acting as the registrar.
DEE Development Engineers Limited was founded in 1988 and it has established itself as a key player in the engineering sector, providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals, and other process industries. The company manufactures and supplies a variety of piping products, including high-pressure piping systems, piping spools, industrial pipe fittings, and pressure vessels, among others.
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With seven manufacturing facilities located in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand, DEE Piping Systems is well-positioned to cater to a diverse range of industrial needs. The company’s comprehensive range of products and solutions underscores its commitment to innovation and quality in the engineering sector.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
