Bookbuilding IPO | ₹418 Cr | Listed at BSE, NSE | Wed, Jun 19, 2024 - Fri, Jun 21, 2024
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 per share. The lot size for an application is 73. The minimum amount of investment required by an retail is ₹14,819 (73 shares) (based on upper price). 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 Open
Wed, Jun 19, 2024
IPO Close
Fri, Jun 21, 2024
Issue Price
₹203 per share
Market Cap (Pre-IPO)
₹1,401.69 Cr
| IPO Date | 19 to 21 Jun, 2024 |
| Listed on | Wed, Jun 26, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹203 |
| Issue Price | ₹203 per share |
| Lot Size | 73 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹19.00 |
| Total Issue Size | 2,05,96,938 shares (agg. up to ₹418 Cr) |
| Fresh Issue | 1,60,14,938 shares (agg. up to ₹325 Cr) |
| Offer for Sale | 45,82,000 shares of ₹10 (agg. up to ₹93 Cr) |
| Share Holding Pre Issue | 5,30,39,140 shares |
| Share Holding Post Issue | 6,90,48,992 shares |
| BSE Script Code / NSE Symbol | 544198 / DEEDEV |
| ISIN | INE841L01016 |
DEE Development Engineers 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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 73 shares and in multiples thereof.
| 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 |
DEE Development Engineers IPO raises ₹125.10 crore from anchor investors. DEE Development Engineers IPO Anchor bid date is June 18, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jun 18, 2024 |
| Shares Offered | 61,62,777 |
| Anchor Portion (₹ Cr.) | 125.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jul 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Sep 22, 2024 |
| 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 |
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.
| 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of our Company | 75.00 |
| 2 | Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company | 175.00 |
| 3 | General corporate purposes | 47.13 |
| KPI | Dec 31, 2023 |
|---|---|
| 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 (₹) | 2.45 | 2.77 |
| P/E (x) | 83 | 73.33 |
| Promoter Holding | 100.00% | |
| Market Cap | ₹1,401.69 Cr. |
The DEE Piping Systems IPO is subscribed 103.03 times on June 21, 2024 6:19:06 PM (Day 3). The public issue subscribed 23.66 times in the retail category, 206.54 times in the QIB category, and 149.38 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 206.54 | 41,08,518 | 84,85,63,972 |
| NII | 149.38 | 30,81,389 | 46,03,08,581 |
| bNII (bids above ₹10L) | 165.71 | 20,54,260 | 34,04,15,425 |
| sNII (bids below ₹10L) | 116.73 | 10,27,129 | 11,98,93,156 |
| Retail | 23.66 | 71,89,907 | 17,01,16,134 |
| Total | 103.03 | 1,43,79,814 | 1,48,14,80,542 |
Total Application : 21,04,858
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | 13.57 |
| 2 | Commission/ processing fee for SCSBs and Bankers to the Offer and fees payable to the Sponsor Bank(s) for Bids made by UPI Bidders. Brokerage, selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDP | 1.54 |
| 3 | Fees payable to the Registrar to the Offer | 0.35 |
| 4 | Listing fees, SEBI filing fees, upload fees, Stock Exchanges processing fees, book building software fees and other regulatory expenses | 4.51 |
| 5 | Printing and stationery expenses | 0.70 |
| 6 | Advertising and marketing expenses | 3.28 |
| 7 | Fees payable to legal counsels | 4.28 |
| 8 | Miscellaneous (comprising fees payable to additional intermediaries, Statutory Auditor, chartered accountant(s), company secretary, Industry Expert, insurance, VDR Agency, Bank charges, Stamp Duty, Listing ceremony | 7.61 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹203.00 | ₹203.00 |
| Open | ₹325.00 | ₹339.00 |
| Low | ₹310.20 | ₹310.00 |
| High | ₹365.70 | ₹365.70 |
| Last Trade | ₹335.00 | ₹335.32 |
Lead Manager Reports
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 Crores. The issue is priced at ₹203 per share. The minimum order quantity is 73.
The IPO opens on Wed, Jun 19, 2024, and closes on Fri, Jun 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 Wed, Jun 19, 2024 and closes on Fri, Jun 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 Tue, Jun 25, 2024. Check the DEE Development Engineers IPO allotment status.
The DEE Development Engineers IPO listing date is on Wed, Jun 26, 2024.
