DEE Development Engineers IPO opens for subscription today: All you need to know - Hindustan Times
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DEE Development Engineers IPO opens for subscription today: All you need to know

Jun 19, 2024 10:04 AM IST

The price band of the IPO is in the range of ₹193 to ₹203 apiece. Investors can bid for minimum of 73 equity shares in one lot and its multiples thereafter.

The initial public offering for Dee Development Engineers Ltd. will open for subscription today (June 19). Through the IPO which will close on June 21, the company plans to raise 418 crore. Ahead of the issue opening, the company's shares are trading with a premium of 68 in the unlisted market.

DEE Development Engineers IPO consists of a fresh share sale of up to <span class='webrupee'>₹</span>325 crore and an offer-for-sale (OFS) of up to 45.82 lakh equity shares amounting to <span class='webrupee'>₹</span>93 crore.
DEE Development Engineers IPO consists of a fresh share sale of up to 325 crore and an offer-for-sale (OFS) of up to 45.82 lakh equity shares amounting to 93 crore.

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Dee Development Engineers IPO price band: The price band of the IPO is in the range of 193 to 203 apiece. Investors can bid for a minimum of 73 equity shares in one lot and its multiples thereafter. The issue consists of a fresh share sale of up to 325 crore and an offer-for-sale (OFS) of up to 45.82 lakh equity shares amounting to 93 crore.

Read more: DEE Development Engineers raises 125 crore from anchor issue ahead of IPO

Dee Development Engineers IPO objectives: Net proceeds from the IPO will be used by the company to fund working capital requirements, repay outstanding borrowings and for general corporate purposes.

Dee Development Engineers company details: The company provides specialised process piping solutions for industries like oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing.

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Dee Development Engineers financials: For nine months ended on December 31, 2023, the company posted a net profit of 14.34 crore with a revenue of 380.23 crore.

Dee Development Engineers IPO registrar: SBI Capital Markets Ltd. and Equirus Capital Pvt. Ltd. are the book running lead managers of the IPO. Link Intime India Pvt. Ltd. is the registrar.

Dee Development Engineers IPO allotment date: The allotment for the IPO will likely be finalised on June 24. The shares of the company will list on BSE and NSE on tentative listing date June 26.

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