DEE Development Engineers IPO: Check out its key dates, pricing range, and more
About Dee Development Engineers
In 1983, DEE was established as a small consulting company. Over the course of 38 years and with a team of over 1000 employees, it has grown into a well-known brand globally, celebrated for its high standards and commitment to customer satisfaction, particularly in its DEE piping systems. DEE prides itself on its ability to deliver projects on time and ensure customer happiness, thanks to its expertise in creating pre-fabricated pipe spools for a wide range of industries. The company utilizes the latest technologies, including induction bending and sophisticated welding methods, to meet its objectives.
DEE primarily serves major clients such as National and International Original Equipment Manufacturers (OEMs) in the power generation sector, Engineering, Procurement, and Construction (EPC) firms involved in power generation, oil and gas, and petrochemicals, marine and offshore, and various other process industries. DEE Piping Systems holds certifications in ISO 9001:2015, ISO 14001:2015, ISO 3834-2, and OHSAS 18001, making it the leading commercial supplier of large-scale piping fabrication in the Indian sub-continent. It offers a comprehensive solution for the fabrication of shop-made pipe spools worldwide.
Dee Development Engineers IPO
IPO News: The DEE Development Engineers IPO pricing range has been established between ₹193 and ₹203 per share of the nominal value of ₹10. The period for subscriptions is set to start on Wednesday, June 19, and conclude on Friday, June 21. The distribution of shares to key investors for the Dee Development Engineers IPO is planned for Tuesday, June 18.
The opening bid price is 19.3 times the nominal value of the shares, and the maximum bid price is 20.3 times the nominal value. Bids are open for a minimum of 73 shares, with additional shares available in multiples of 73.
DEE Development Engineers IPO has set aside a maximum of 50% of its shares for qualified institutional buyers (QIB), at least 15% for non-institutional institutional investors (NII), and a minimum of 35% for individual investors. Additionally, a special discount of ₹19 per share is available to eligible employees participating in the employee reservation segment.
Dee Development Engineers is an engineering company specializing in providing process pipe solutions for various industries, including oil and gas, electricity (including nuclear), chemicals, among others, through a combination of engineering, procurement, and manufacturing services. With more than three and a half decades of experience in manufacturing, the company has successfully expanded its operations by leveraging its brand, strategically located production facilities, and engineering expertise.
The price to earnings (P/E) ratio, calculated using basic and diluted earnings per share (EPS) for the fiscal year 2023, falls within the upper range of the price spectrum, reaching 82.86 times, compared to the lower range of 78.78 times, and the average for the industry’s peer group, which stands at 42.40 times.
With some caution, it is expected that the Tentatively, Dee Development’s Initial Public Offering (IPO) will be completed on Monday, June 24. Following this, the company plans to start issuing refunds on Tuesday, June 25, and the shares will be credited back to the shareholders’ Demat accounts on the day after the refund. It is anticipated that the Dee Development shares will be made available for trading on the BSE and NSE on Wednesday, June 26.
Dee Development Engineers IPO details
The DEE Development IPO, valued at ₹418 crore, includes a new issue worth ₹325 crore and an offer-for-sale (OFS) of 4,582,000 equity shares by its founder, Krishan Lalit Bansal.
The company’s founders are Krishan Lalit Bansal, Ashima Bansal, and DDE Piping Components Private Limited.
The company plans to utilize the funds raised from this new issue to achieve the following goals: covering the company’s immediate operational needs (₹75 crore); paying off or settling a part of certain existing loans (₹175 crore); and general business activities.
SBI Capital Markets Limited and Equirus Capital Private Limited are the lead managers for the DEE Piping Systems IPO, with Link Intime India Private Ltd acting as the official registrar.
DEE Development Engineers IPO Key Dates
Bidding period: June 19 to June 21
Credit of Shares to Demat: June 25
Refunds initiation: June 25
Basis of Allotment: June 24
Listing on BSE and NSE: June 26
Conclusion
Since its beginning as a small advisory firm, DEE Development Engineers has demonstrated remarkable progress and superiority. The firm’s forthcoming initial public offering (IPO) showcases its solid market standing and dedication to creativity and client happiness. Armed with a solid base and a distinct outlook for what’s to come, DEE is ready to capitalize on its knowledge and grow more, presenting attractive prospects for investors and maintaining its tradition of excellence and dependability in the sector.
