The DEE Development IPO started on June 19, 2024, and ended on June 21, 2024. Shares were allocated on June 24, 2024, and refund processes began on June 25, 2024. On June 25, 2024, the shares were credited to investors demat accounts. DEE Development was officially listed on the stock exchange on June 26, 2024.
During the IPO, DEE Development Engineers offered shares at a price range of ₹193 to ₹203 per share, and the lot size was 73 shares. The total size of DEE Development Engineers 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 the NSE and BSE.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
DEE Development Engineers IPO Subscription Update Video
DEE Development IPO Subscription Status
The DEE Development IPO on June 21, 2024 was subscribed 103.03 times, with the retail category being subscribed 23.66 times, the NII (Non-Institutional Investor) category being subscribed 149.38 times, the QIB (Qualified-Institutional Buyers) category being subscribed 206.54 times and the Employee category being subscribed times.
| Category | Subscription |
| QIB | 206.54x |
| NII | 149.38x |
| Retail | 23.66x |
| Total | 103.03x |
DEE Development Engineers IPO Basic Details
| Company Name | DEE Development Engineers Limited |
| DEE Development Engineers IPO Open Date | June 19, 2024 |
| DEE Development Engineers IPO Close Date | June 21, 2024 |
| DEE Development Engineers IPO Allotment Date | June 24, 2024 |
| DEE Development Engineers IPO Listing Date | June 26, 2024 |
| Face Value | ₹10 per share |
| Price | ₹193 to ₹203 per share |
| Lot Size | 73 shares |
| Issue Size | 20,591,852 shares of ₹10 (aggregating up to ₹418.01 Cr) |
| Fresh Issue | 16,009,852 shares of ₹10 (aggregating up to ₹325.00 Cr) |
| Offer for Sale | 4,582,000 shares of ₹10 (aggregating up to ₹93.01 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Company Promoters | Krishan Lalit Bansal Ashima Bansal and Dde Piping Components Private Limited |
About DEE Development Engineers Limited
Founded in 1988, DEE Development Engineers Limited specializes in process piping solutions for industries like oil and gas, power (including nuclear), and chemicals. They offer engineering, procurement, and manufacturing services.
DEE manufactures and supplies various 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 like boiler superheater coils, de-superheaters, and other custom components.
The company operates seven manufacturing facilities located in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand. Three of these facilities are in Palwal, Haryana.
For the nine months ending December 31, 2023, DEE’s manufacturing facilities had a combined installed capacity of 70,875 MT. Their annual capacities were 94,500 MT in Fiscal 2023, 91,500 MT in Fiscal 2022, and 86,500 MT in Fiscal 2021.
Recently, DEE expanded into a new business area, focusing on the design, engineering, fabrication, and manufacturing of pilot plants at their Palwal Facility III.
As of March 31, 2024, DEE employs 1,061 people, including 54 highly skilled welders with certifications such as CSWIP 3.0 and 3.1, AWS-CWI, and CWV. Additionally, 53 employees are skilled in non-destructive examination with certifications like NDE Level II (ASNT/SNT-TC-1A) and NDE Level III (BS EN ISO 9712).
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DEE Development Engineers IPO FAQs
What is the start and end date of DEE Development IPO Subscription?
The DEE Development IPO started on June 19, 2024, and ended on June 21, 2024.
When does DEE Development IPO Subscription open?
The DEE Development IPO open on June 19, 2024.
When does DEE Development IPO Subscription close?
The DEE Development IPO Close on June 21, 2024.
What is the allotment date of DEE Development IPO?
The allotment date for DEE Development IPO is June 24, 2024.
When is the initial refund date of DEE Development IPO?
The initial Refund date for DEE Development IPO is June 25, 2024.
When were the shares credited to investors demat accounts for the DEE Development IPO?
The shares for the DEE Development IPO were credited to investors demat accounts on June 25, 2024.
When will DEE Development IPO be listed on the stock market?
DEE Development IPO stock market will be listed on June 26, 2024 at 10 am.
What was the price range of the DEE Development IPO shares?
The DEE Development IPO shares were offered at a price range of ₹193 to ₹203 per share.
What was the lot size for the DEE Development IPO shares?
The lot size for the DEE Development IPO shares was 73 shares.
What was the total issue size of the DEE Development IPO?
The total issue size of the DEE Development IPO was ₹418.01 crores.
How were the shares allocated among different types of investors for the DEE Development IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the DEE Development IPO listed?
The DEE Development IPO was listed on both the NSE and BSE.
What is the DEE Development IPO Subscription Status?
DEE Development IPO is subscribed 103.03 Times.
