DEE Piping Systems IPO
Open MainLineCurrent GMP
₹90 (+44.33%)
Price Band
₹ 193 – 203
Lot Size
73
Issue Size
₹418.01 Cr
Minimum Investment
₹14819 (73 Shares)
Listing Date
26 June 2024
Subscription
101.84x
About the Company
DEE Development Engineers Limited, established in 1988, is a distinguished engineering firm specialising in process piping solutions for diverse industries, including oil and gas, power (both conventional and nuclear), and chemicals.
The company excels in engineering, procurement, and manufacturing, offering a robust portfolio of products such as high-pressure piping systems, piping spools, high-frequency induction pipe bends, longitudinally submerged arc welding pipes, and various industrial pipe fittings.
Additionally, DEE Development manufactures pressure vessels, industrial stacks, modular skids, and tailored components like boiler superheater coils and de-superheaters.
The firm operates seven manufacturing facilities located in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand, with three of these facilities situated in Palwal, Haryana. As of the end of December 2023, these facilities collectively boast an installed capacity of 70,875 metric tons (MT), with annual capacities marked at 94,500 MT in Fiscal 2023, 91,500 MT in Fiscal 2022, and 86,500 MT in Fiscal 2021.
In its latest strategic move, DEE Development has ventured into designing, engineering, fabricating, and manufacturing pilot plants at its Palwal Facility III. As of March 31, 2024, the company employs 1,061 individuals, including 54 highly skilled welders with certifications like CSWIP 3.0 and 3.1, AWS-CWI, and CWV, alongside 53 employees proficient in non-destructive examination with qualifications such as NDE Level II and Level III.
Promoters
The promoters of the company are
- Krishan Lalit Bansal
- Ashima Bansal
- DDE Piping Components Private Limited.
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
0.00%
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding working capital requirements of the Company;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
- General corporate purposes
Address / Contact Info
DEE Development Engineers Limited
Unit 1, Prithla-Tatarpur Road,
Village Tatarpur,
Dist. Palwal, Faridabad- 121102,
Phone: +91 1275 248345
Email: secretarial@deepiping.com
Website: https://www.deepiping.com
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 19 June 2024
IPO Close Date
Friday, 21 June 2024
Basis of Allotment
Monday, 24 June 2024
Initiation of Refunds
Tuesday, 25 June 2024
Credit of Shares to Demat
Tuesday, 25 June 2024
Listing Date
Wednesday, 26 June 2024 — NSE & BSE
Important Dates
Open Date
19 June 2024
Close Date
21 June 2024
Basis Of Allotment
24 June 2024
Listing Date
26 June 2024
Financial Performance (₹ in Crores)
| Particular | 31 Dec 23 | 31 Mar 23 | 31 Mar 22 | 31 Mar 21 |
|---|---|---|---|---|
| Assets | 1171.01 | 966.26 | 845.4 | 835.88 |
| Revenue | 557.86 | 614.32 | 470.84 | 513.03 |
| Profit After Tax | 14.34 | 12.97 | 8.2 | 14.21 |
| Net Worth | 428.19 | 413.7 | 401.37 | 448.5 |
| Reserve & Surplus | 380.23 | 408.17 | 395.85 | 432.81 |
| Total Borrowings | 407.14 | 352.62 | 285.36 | 257.17 |
EPS Pre
2.45%
EPS Post
2.77%
P/E Pre
83.00
P/E (Post Issue)
73.33x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of December 31, 2023. |
|---|---|
| ROE % | 3.14 |
| ROCE % | 3.91 |
| Debt / Equity | 0.85 |
| RoNW % | 3.35 |
| PbW | 2.46 |
| Pat Margin % | 2.63 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 6162777 | 30 | 0 |
| Qualified Institutions | 4108518 | 20 | 0 |
| Non-Institutional | 3081389 | 15 | 0 |
| BNII | 2054260 | 10 | 2010 |
| SNII | 1027129 | 5 | 1005 |
| Retail Investors | 7189907 | 35 | 98491 |
| Total | 20542591 | 100 | 0 |
Subscription Status ( Fri, 21 Jun 24 04:51 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 4108518 | 848563972 | 206.54x |
| Non-Institutional | 3081389 | 460308581 | 149.38x |
| BNII | 2054260 | 340415425 | 165.71x |
| SNII | 1027129 | 119893156 | 116.73x |
| Retail Investors | 7189907 | 170116134 | 23.66x |
| Total | 14379814 | 1481480542 | 103.03x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 73 | 14,819.00 |
| Retail (Max) | 13 | 949 | 192,647.00 |
| S-HNI (Min) | 14 | 1,022 | 207,466.00 |
| S-HNI (Max) | 67 | 4,891 | 992,873.00 |
| B-HNI (Min) | 68 | 4,964 | 1,007,692.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Equirus Capital Private Limited
- SBI Capital Markets Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
DEE Piping Systems IPO is a Book-building IPO worth ₹418.01 crores. The price band is ₹193 to 203 per share. The IPO opens on Wed, Jun 19, 2024 and closes on Fri, Jun 21, 2024. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The DEE Piping Systems IPO opens on Wed, Jun 19, 2024 and closes on Fri, Jun 21, 2024
DEE Piping Systems IPO Price Band is ₹193 to 203.
DEE Piping Systems IPO lot size is 73, and the minimum amount required for application is ₹14819.
The minimum investment for DEE Piping Systems IPO is approximately ₹14819 based on the upper price band.
To apply for the DEE Piping Systems IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Jun 21, 2024. After submission, funds are blocked until the basis of allotment of DEE Piping Systems IPO is finalised.
DEE Piping Systems IPO issue size is ₹418.01 crores.
DEE Piping Systems IPO allotment date is Sat, Jun 27, 2026.
The registrar for DEE Piping Systems IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to DEE Piping Systems IPO through their official website or helpline.
The DEE Piping Systems IPO GMP (Grey Market Premium) is ₹90 as of Wed, Jun 26, 2024. Based on the upper price band of ₹203 per share, the estimated DEE Piping Systems IPO listing price is ₹293, indicating a potential listing gain of approximately 31% over the issue price.