After a strong response to the IPO, Dee Development Engineers is likely to finalise the share allotment on Monday. The issue was booked nearly 100 times at close on strong interest from non-institutional and institutional buyers. Investors can check the status of their share allotment on the BSE or even by logging in to the registrar website.
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Firstly, here’s how you can know the status on BSE
Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)
Step 2: Please select the issue name, that is the company’s name in the drop down.
Step 3: Enter the application number or PAN number to check the allotment status.
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To check the status of Dee Development Engineers IPO allotment through the registrar, which is Link Intime India in this case, kindly follow the below steps.
Step 1: Visit the Link Intime India website (https://linkintime.co.in/initial_offer/public-issues.html)
Step 2: Select Dee Development Engineers IPO
Step 3: Enter the PAN details and click search to know the status
Dee Development Engineers GMP
In the unlisted market, the company’s shares are trading with a premium of Rs 95. This compares with an IPO price of 203, indicating a gain of 47% on listing day, which is fixed as June 26.
The net proceeds from the fresh issue will be used towards funding working capital requirements, repayment of debt, and other general corporate purposes.
Dee Development Engineers is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing.
The company has manufacturing experience of over three and a half decades and has been able to leverage its brand, strategically located manufacturing facilities and engineering capabilities to successfully expand the business.
It also makes and supplies piping products such as high-pressure piping systems, piping spools, high-frequency induction pipe bends, longitudinally submerged arc welding pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids and accessories including, boiler superheater coils, de-super heaters and other customized manufactured components.
For the nine months ended December 2023, the company clocked revenue from operations of Rs 545 crore and profit after tax of Rs 14.3 crore. In FY23, revenue from operations increased 29% year-on-year to Rs 595 crore, while PAT jumped 57% to Rs 12.9 crore.
SBI Capital Markets and Equirus Capital are the book-running lead managers to the issue.
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