DEE Development Engineers Limited IPO was Subscribed 42.35x on Day 3

DEE Development Engineers Limited IPO (DEE Piping Systems IPO) bidding process closed on June 21, 2024. The allotment for the DEE Piping Systems IPO is expected to be finalised on June 24, 2024. DEE Piping Systems IPO will be listed on BSE and NSE, with a tentative listing date of June 26, 2024. DEE Piping Systems IPO raised ₹125.10 crore from anchor investors.

DEE Piping Systems IPO price band is set at ₹193 to ₹203 per share. The minimum lot size for an application is 73 Shares. The minimum amount of investment required by retail investors is ₹14,819. The minimum lot size investment for sNII is 14 lots (1,022 shares), amounting to ₹2,07,466, and for bNII, it is 68 lots (4,964 shares), amounting to ₹10,07,692.

Day Wise Subscription

On the last day of subscription, i.e., June 21, 2024, DEE Piping Systems IPO was subscribed 42.35x. QIBs subscribed 80.28x, NIIs 67.00x, and retail investors subscribed 10.68x.

Grey Market Premium

The last GMP for DEE Development Engineers IPO is ₹95. With a price band of ₹203.00, the estimated listing price is ₹298 (cap price + today’s GMP). The expected percentage gain/loss per share is 46.80%.

About DEE Development Engineers Limited

Dee Development Engineers Ltd (DDEL) is an engineering company providing specialised process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing.

The company has been focused on automating certain manufacturing processes, and its Manufacturing Facilities are equipped with equipment such as fully automated robotic welding systems, semi-automatic shot blasting machines, automatic GMAW welding systems, and fully automatic high-frequency induction bending machines with diameters of up to 48 inches.

Dee Development Engineers Ltd operates two biomass power generation plants in Abohar and Muktsar, Punjab, with contracted annual capacities of 8 MW and 6 MW, respectively. Together, they cover an area of approximately 347,511.15 square meters.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.