DEE Development IPO GMP Today ( Grey Market Premium )

The DEE Development IPO commenced on June 19, 2024, and concluded on June 21, 2024. The allotment of shares took place on June 24, 2024, and the initiation of refunds began on June 25, 2024. The shares were credited to the demat accounts of investors on June 25, 2024. Finally, the listing of DEE Development on the stock exchange occurred on June 26, 2024.

The DEE Development Engineers IPO was priced at ₹193 to ₹203 per share, with a lot size of 73 shares. The total 73 size of DEE Development IPO is ₹418.01 crores out of which ₹325.00 crores is fresh issue and ₹93.01 crores is offer for sale (OFS). The IPO was listed on both the NSE and BSE.

In terms of quota reservations, the QIB (Qualified Institutional Buyers) quota was reserved for 50% of the shares, the NII (Non-Institutional Investors) quota was reserved for 15% of the shares, and the retail quota was reserved for 35% of the shares.

DEE Development IPO Basic Details

DEE Development IPO GMP Today:

DEE Piping Systems IPO Details:

Established in 1988, DEE Development Engineers Limited specializes in providing advanced process piping solutions for various industries, including oil and gas, power (nuclear included), chemicals, and more. They offer comprehensive services in engineering, procurement, and manufacturing.

DEE Development Engineers Limited produces and supplies a range of piping products. These include 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 custom accessories such as boiler superheater coils and de-superheaters.

The company operates seven manufacturing facilities in Palwal (Haryana), Anjar (Gujarat), Barmer (Rajasthan), Numaligarh (Assam), and Bangkok (Thailand). Notably, three of these facilities are located in Palwal, Haryana.

As of December 31, 2023, their manufacturing facilities had a total installed capacity of 70,875 MT. The annual capacities were 94,500 MT in Fiscal 2023, 91,500 MT in Fiscal 2022, and 86,500 MT in Fiscal 2021.

Recently, DEE Development Engineers Limited ventured into a new business area by offering design, engineering, fabrication, and manufacturing of pilot plants at their Palwal Facility III.

As of March 31, 2024, the company employs 1,061 people. This includes 54 highly skilled welders with certifications such as CSWIP 3.0 and 3.1, AWS-CWI, and CWV. Additionally, 53 employees are specialized in non-destructive examination, holding certifications like NDE level II as per ASNT/SNT-TC-1A and NDE level III as per BS EN ISO 9712.

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