IPO Details
Bidding Dates
19 Jun '24 - 21 Jun '24
Minimum Investment
₹14,819 / 1 Lot ( 73 Shares )
Price Range
₹193 - ₹203
Maximum Investment
₹192,647 / 1 Lot ( 949 Shares )
Retail Discount
Not Applicable
Issue Size
₹418.01 Cr
Investor category and sub category
Retail Individual Investors | Non-Institutional Investors | Qualified Institutional Buyers (QIB) |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jun 19, 2024
IPO Closing Date
Jun 21, 2024
Basis of Allotment
Jun 24, 2024
Initiation of Refunds
Jun 25, 2024
Credit of Shares to Demat
Jun 25, 2024
IPO Listing Date
Jun 26, 2024
Cut-off time for UPI mandate confirmation
Jun 21, 2024
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Jun 19, 2024 |
0.03x | 5.54x | 2.87x | 2.66x |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutional Buyers | 0.03 |
| Non-Institutional Buyers | 8.89 |
| Retail Investors | 4.53 |
| Total | 4.22 |
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.
Industry Outlook:
- India's National Green Hydrogen Mission plans to develop 5 MMT annual green hydrogen production, involving over ₹8 trillion investment, aiming for a 125 GW renewable energy increase.
- With 48 projects announced, targeting 3.5mn t/yr capacity by 2030, India's oil & gas PSUs plan a 38,000 tonnes/year green hydrogen production by next year.
Dee Development Engineers Limited IPO Details
Dee Development Engineers Limited IPO Dates
Retail investors can bid for the Dee Development Engineers Limited IPO. The issue date has not been announced yet.
Dee Development Engineers Limited IPO Price Band
Dee Development Engineers Limited IPO is a mix of fresh issue and offer for sale (OFS). The company is likely to raise ₹325 Cr via fresh issue, and OFS comprises 79,00,000 shares. It is a book-building issue. The price range has not been announced yet.
Dee Development Engineers Limited IPO Lot Size
The lot size and minimum investment of Dee Development Engineers Limited's IPO will be announced later.
DEE Development Engineers Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- 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.
Peer Details
Isgec Heavy Engineering Limited is the only company in India engaged in developing a similar line of product solutions to those of DEE Development Engineers Limited.
How To Check the Allotment Status of the Dee Development Engineers Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the Individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of Dee Development Engineers Limited
Registered office: Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Faridabad, Haryana – 121102, India
Phone: +91 1275 248345
E-mail: secretarial@deepiping.com
IPO Financials
| Particulars | 9-Month period Ending on December 31, 2023 | Year endinYear ending on March 31, 2023g on March 31, 2022 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Revenue from Operations (in ₹ million) | 5,455.54 | 5,954.95 | 4,609.16 | 4,952.17 |
| Profit After Tax (PAT) (in ₹ million) | 143.37 | 129.72 | 81.97 | 142.05 |
| Cash & Cash Equivalents (in ₹ million) | 14.14 | 18.18 | 3.39 | 50.53 |
| Net Worth (in ₹ million) | 4,281.87 | 4,136.95 | 4,013.68 | 4,484.98 |
| Total Borrowings (in ₹ million) | 4,071.37 | 3,526.22 | 2,853.58 | 2,571.65 |
| Return on Capital Employed (RoCE) (%) | 3.91% | 3.91% | 3.99% | 2.47% |
| Return on Net Worth (RoNW) (%) | 3.35% | 3.14% | 2.04% | 3.17% |
| Diluted Earning Per Share (EPS)-in absolute ₹ | 2.70 | 2.45 | 1.53 | 2.44 |
Know before investing
Strengths
7-
DEE Development leads with significant industry entry barriers, skilled labour, and complex tech requirements.
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Holds a strategic leadership position fueled by longstanding global customer relationships.
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Boasts comprehensive manufacturing capabilities with a 70,875 MT installed capacity as of 2023.
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The strategic location of facilities near major ports enhances export potential and operational efficiency.
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Extensive product range, including high-pressure systems and specialised piping solutions.
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Demonstrates high-quality standards, crucial for critical industries like oil, gas, and nuclear.
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Strong customer retention evidenced by long-term relationships and robust order books.
Risks
6-
Non-compliance with stringent customer standards could lead to recalls and claims, affecting financial stability.
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Dependence on a few customers, with the top 10 contributing 66.18% of revenue, poses a significant business risk.
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The industry's high entry barriers require substantial capital investment and skilled labor, limiting rapid scalability.
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Exposure to sectors like oil and gas, with 52.76% revenue dependency, subjects business to market volatility.
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Mechanical failures led to four equipment breakdowns, potentially causing operational delays and financial losses.
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Rapid technological changes could outdate products; failure to innovate might result in a loss of competitiveness.
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Dee Development Engineers IPO FAQs
DEE Development Engineers Limited IPO is a book built IPO. The IPO will be open from June 19, 2024, to June 21, 2024.
The Basis of Allotment will happen on Monday, June 24, 2024.
The IPO subscription window will open on June 19, 2024.
The lot size for DEE Development Engineers Limited’s IPO is 73 shares with a minimum investment of ₹14,819.
The listing date for DEE Development Engineers is Wednesday, June 26, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approve the payment mandate.
You can submit only one application using your PAN card.
