DEE Piping Systems IPO
GMP, Subscription, Price, Dates & Financial Details
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…
Open Date
Wed, 19 Jun 2024
Close Date
Fri, 21 Jun 2024
Price Band
₹ 193 – 203
Lot Size
73
Issue Size
₹ 418.01 Cr
Minimum Investment
₹ 14,819 (73 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
DEE Piping Systems IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹418.01 Crore, comprising a fresh issue of 1.60 Crore equity shares aggregating to ₹325.00 Crore and an offer for sale (OFS) of 45.82 Lakh equity shares aggregating to ₹93.01 Crore by the existing shareholders.
The DEE Piping Systems IPO remained open for subscription from June 19, 2024, to June 21, 2024. The basis of allotment was finalized on June 24, 2024, and the company's shares were listed on the NSE and BSE on June 26, 2024.
The company had fixed the price band at ₹193 to ₹203 per share, with a lot size of 73 shares. Retail investors were required to make a minimum investment of ₹14,819 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. Equirus Capital Private Limited, and SBI Capital Markets Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, DEE Development Engineers Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
DEE Piping Systems IPO Timeline (Tentative)
- IPO Open Date
- Wed, 19 Jun 24
- IPO Close Date
- Fri, 21 Jun 24
- Basis of Allotment
- Mon, 24 Jun 24
- Initiation of Refunds
- Tue, 25 Jun 24
- Credit of Shares to Demat
- Tue, 25 Jun 24
- Listing Date
- Wed, 26 Jun 24 — NSE & BSE
Open Date
19 June 2024
Close Date
21 June 2024
Basis Of Allotment
24 June 2024
Listing Date
26 June 2024
IPO Subscription
Check Live Subscription →The DEE Piping Systems IPO has received bids for 1,48,14,80,542 shares against 1,43,79,814 shares offered, resulting in an overall subscription of 103.03x. the NII category is subscribed 149.38x, Retail Investors 23.66x, and QIBs 206.54x. Within the NII category, BNII is subscribed 165.71x, while SNII is subscribed 116.73x.
QIB
206.54x
NII
149.38x
BNII
165.71x
SNII
116.73x
RII
23.66x
Total
103.03x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 71,89,907 shares, representing 35% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 41,08,518 shares (20%), while Non-Institutional Investors (NIIs) receive 30,81,389 shares (15%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 6,162,777 | 30% |
| Qualified Institutions | 4,108,518 | 20% |
| Non-Institutional | 3,081,389 | 15% |
| BNII | 2,054,260 | 10% |
| SNII | 1,027,129 | 5% |
| Retail Investors | 7,189,907 | 35% |
| Total | 20,542,591 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
DEE Development Engineers Limited KPI Information
| 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 |
Peers Comparison
No Peer Comparision Available
About DEE Development Engineers Limited
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.
DEE Piping Systems IPO 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%
DEE Piping Systems IPO Objective
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
DEE Development Engineers Limited Address / Contact Details
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
DEE Piping Systems IPO Lot Size
The DEE Piping Systems IPO has a lot size of 73 shares. Retail investors require a minimum investment of ₹14,819 by applying for 1 lot (73 shares). The maximum application allowed for the retail category is 13 lots (949 shares), requiring an investment of ₹1,92,647.
| 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 |
Issue Reservation
- Anchor Investors — 30%
- QIB — 20%
- NII — 15%
- RII — 35%
Book Running Lead Managers
- Equirus Capital Private Limited
- SBI Capital Markets Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the DEE Piping Systems IPO?
DEE Piping Systems IPO is a Book-building IPO with a total issue size of ₹418.01 crore. The DEE Piping Systems IPO price band is ₹193 to 203 per share. The DEE Piping Systems IPO subscription opens on Wed, Jun 19, 2024, and closes on Fri, Jun 21, 2024. The DEE Piping Systems IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the DEE Piping Systems IPO.
When will the DEE Piping Systems IPO open for subscription?
The DEE Piping Systems IPO opens on Wed, Jun 19, 2024 and closes on Fri, Jun 21, 2024
What is DEE Piping Systems IPO Price Band?
DEE Piping Systems IPO Price Band is ₹193 to 203 per share.
What is DEE Piping Systems IPO Lot Size?
DEE Piping Systems IPO lot size is 73 shares, Retail investors need a minimum investment of ₹14819 based on the upper price band
What is the minimum investment for DEE Piping Systems IPO?
The minimum investment for DEE Piping Systems IPO is ₹14819, based on one lot of 73 shares at the upper price band of ₹203 per share.
How to apply for DEE Piping Systems IPO?
Investors can apply for the DEE Piping Systems IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jun 21, 2024. The application amount remains blocked until the DEE Piping Systems IPO allotment is finalized.
What is DEE Piping Systems IPO Issue Size?
DEE Piping Systems IPO issue size is ₹418.01 crores.
What is the DEE Piping Systems IPO Allotment Date?
DEE Piping Systems IPO allotment date is Mon, Jun 24, 2024.
Who is the DEE Piping Systems IPO Registrar?
The registrar for DEE Piping Systems IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check DEE Piping Systems IPO allotment status, refund processing, and other IPO-related information.
What is the DEE Piping Systems IPO GMP?
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 44.33% over the issue price.
Who is the DEE Piping Systems IPO Lead Manager?
The book-running lead managers (BRLMs) for the DEE Piping Systems IPO are Equirus Capital Private Limited, and SBI Capital Markets Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the DEE Piping Systems IPO Red Herring Prospectus (RHP).