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DEE Development Engineers IPO is a book build issue of ₹418.01 crores. The issue is a combination of fresh issue of 1.60 crore shares aggregating to ₹325.02 crores and offer for sale of 0.46 crore shares aggregating to ₹92.99 crores.
DEE Development Engineers IPO bidding started from Jun 19, 2024 and ended on Jun 21, 2024. The allotment for DEE Development Engineers IPO was finalized on Jun 24, 2024. The shares got listed on BSE, NSE on Jun 26, 2024.
DEE Development Engineers IPO price band is set at ₹203.00 per share . The lot size for an application is 73. The minimum amount of investment required by an retail is ₹14,089 (73 shares). The lot size investment for sNII is 14 lots (1,022 shares), amounting to ₹2,07,466, and for bNII, it is 68 lots (4,964 shares), amounting to ₹10,07,692.
The issue includes a reservation of up to 54,347 shares for employees offered at a discount of ₹19.00 to the issue price.
SBI Capital Markets Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to DEE Development Engineers IPO RHP for detailed Information.
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | June 26, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹193 to ₹203 per share |
| Issue Price Final | ₹203 per share |
| Lot Size | 73 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,05,96,938 shares (aggregating up to ₹418.01 Cr) |
| Fresh Issue | 1,60,14,938 shares (aggregating up to ₹325.02 Cr) |
| Offer for Sale | 45,82,000 shares of ₹10 (aggregating up to ₹92.99 Cr) |
| Employee Discount | ₹19.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,30,39,140 shares |
| Share Holding Post Issue | 6,90,48,992 shares |
DEE Piping Systems IPO offers total 2,05,96,938 shares. Out of which 1,02,71,295 (49.87%) allocated to QIB, 41,08,518 (19.95%) allocated to QIB, 30,81,389 (14.96%) allocated to NII, 71,89,907 (34.91%) allocated to RII and 61,62,777 (29.92%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,02,71,295 (49.87%) | NA |
| − Anchor Investor Shares Offered | 61,62,777 (29.92%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 41,08,518 (19.95%) | NA |
| NII (HNI) Shares Offered | 30,81,389 (14.96%) | NA |
| − bNII > ₹10L | 20,54,260 (9.97%) | 2,010 |
| − sNII < ₹10L | 10,27,129 (4.99%) | 1,005 |
| Retail Shares Offered | 71,89,907 (34.91%) | 98,491 |
| Employee Shares Offered | 54,347 (0.26%) | NA |
| Total Shares Offered | 2,05,96,938 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
DEE Development Engineers IPO raises ₹125.10 crore from anchor investors. DEE Development Engineers IPO Anchor bid date is June 18, 2024. DEE Development Engineers IPO Anchor Investors list
| Bid Date | June 18, 2024 |
| Shares Offered | 61,62,777 |
| Anchor Portion Size (In Cr.) | 125.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 22, 2024 |
DEE Development Engineers IPO opens on June 19, 2024, and closes on June 21, 2024.
| IPO Open Date | Wed, Jun 19, 2024 |
| IPO Close Date | Fri, Jun 21, 2024 |
| Tentative Allotment | Mon, Jun 24, 2024 |
| Initiation of Refunds | Tue, Jun 25, 2024 |
| Credit of Shares to Demat | Tue, Jun 25, 2024 |
| Tentative Listing Date | Wed, Jun 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 21, 2024 |
Investors can bid for a minimum of 73 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 73 | ₹14,819 |
| Retail (Max) | 13 | 949 | ₹1,92,647 |
| S-HNI (Min) | 14 | 1,022 | ₹2,07,466 |
| S-HNI (Max) | 67 | 4,891 | ₹9,92,873 |
| B-HNI (Min) | 68 | 4,964 | ₹10,07,692 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in 1988, DEE Development Engineers Limited is an engineering company that provides specialized process piping solutions for oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing.
The company also manufactures and supplies piping products, including 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. These accessories include boiler superheater coils, de-superheaters, and other customized manufactured components.
The company has seven manufacturing facilities in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand, with three manufacturing facilities located in Palwal, Haryana.
The company's manufacturing facilities had a cumulative installed capacity of 70,875 MT for the nine months ended December 31, 2023, with annual capacities of 94,500 MT, 91,500 MT, and 86,500 MT for Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively.
The company recently expanded into a new business vertical, offering design, engineering, fabrication, and manufacturing of pilot plants at Palwal Facility III.
As of March 31, 2024, the company has 1,061 employees, including 54 highly skilled welders with certifications like CSWIP 3.0 and 3.1, AWS-CWI, and CWV, and 53 employees are highly skilled in non-destructive examination with certifications like NDE level II qualifications as per ASNT/SNT-TC-1A, and NDE level III qualifications as per BS EN ISO 9712.
DEE Development Engineers Limited's revenue increased by 30.47% and profit after tax (PAT) rose by 58.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,171.01 | 966.26 | 845.40 | 835.88 |
| Total Income | 557.86 | 614.32 | 470.84 | 513.03 |
| Profit After Tax | 14.34 | 12.97 | 8.20 | 14.21 |
| Net Worth | 428.19 | 413.70 | 401.37 | 448.50 |
| Reserves and Surplus | 380.23 | 408.17 | 395.85 | 432.81 |
| Total Borrowing | 407.14 | 352.62 | 285.36 | 257.17 |
| Amount in ₹ Crore | ||||
The market capitalization of DEE Development Engineers IPO is ₹1401.69 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| ROCE | 3.91% |
| Debt/Equity | 0.85 |
| RoNW | 3.35% |
| PAT Margin | 2.63% |
| Price to Book Value | 2.46 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.45 | 2.77 |
| P/E (x) | 83 | 73.33 |
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
[Dilip Davda] DDEL is one of the niche player in specialized piping solutions globally and enjoys credentials with long term relationship with renowned customers. It marked steady growth post the Pandemic year and is poised for bright prospects ahead if their order book worth Rs. 828+ cr. as of December 31, 2023, has any indication. Though the issue appears aggressively priced based on its annualized earnings for FY24, it holds long term promises. Well-informed investors may park funds for the medium to long term rewards Read detail review...
| Listing Date | June 26, 2024 |
| BSE Script Code | 544198 |
| NSE Symbol | DEEDEV |
| ISIN | INE841L01016 |
| Final Issue Price | ₹203 per share |
| BSE Listing Group | B |
DEE Development Engineers Ltd.
Unit 1, Prithla-Tatarpur Road,
Village Tatarpur,
Dist. Palwal, Faridabad- 121102,
Faridabad, Haryana
Phone: +91 1275 248345
Email: secretarial@deepiping.com
Website: https://www.deepiping.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: dde.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
DEE Development Engineers IPO is a main-board IPO of 2,05,96,938 equity shares of the face value of ₹10 aggregating up to ₹418.01 Crores. The issue is priced at ₹203 per share. The minimum order quantity is 73.
The IPO opens on June 19, 2024, and closes on June 21, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in DEE Development Engineers IPO using UPI as a payment gateway. Zerodha customers can apply in DEE Development Engineers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in DEE Development Engineers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The DEE Development Engineers IPO opens on June 19, 2024 and closes on June 21, 2024.
DEE Development Engineers IPO lot size is 73, and the minimum amount required for application is ₹14,819.
You can apply in DEE Development Engineers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for DEE Development Engineers IPO will be done on Monday, June 24, 2024, and the allotted shares will be credited to your demat account by Tuesday, June 25, 2024. Check the DEE Development Engineers IPO allotment status.
The DEE Development Engineers IPO listing date is on Wednesday, June 26, 2024.
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