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Founded in 1988, DEE Development Engineers Limited specializes in providing process piping solutions for industries such as oil and gas, power (including nuclear) and chemicals. They handle engineering, procurement and manufacturing.
They produce a variety of piping products such as high pressure piping systems, piping spools, induction pipe bends, welded pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids and accessories like boiler superheater coils and de superheaters.
As of December 31, 2023, their manufacturing facilities had a combined capacity of 70,875 MT for nine months. The annual capacities were 94,500 MT for 2023, 91,500 MT for 2022 and 86,500 MT for 2021.
Recently, DEE has branched out into the design, engineering, fabrication, and manufacturing of pilot plants at their third facility in Palwal.
DEE Piping Systems IPO Overview
DEE Piping Systems’ IPO aims to raise ₹418.01 crores in total. This includes a fresh issue worth ₹325.00 crores and an offer for sale amounting to ₹93.01 crores. The price band for IPO is set between ₹193 and ₹203 per share.
The IPO will be available for subscription from June 19, 2024, to June 21, 2024. The share allotment is anticipated to be completed by June 24, 2024, with the shares expected to be listed on the BSE and NSE by June 26, 2024. Krishan Lalit Bansal, Ashima Bansal, and DDE Piping Components Private Limited currently hold 100% ownership. However, this ownership will be diluted after the IPO. Link Intime India Private Ltd will act as the registrar for the IPO.
Dee Piping Systems IPO GMP
As of 14 June 2024, Dee Piping Systems’s IPO has Grey Market Premium or GMP of ₹41. With the price band set at ₹203, the estimated listing price is ₹244 (Upper price band + today’s GMP). This indicates an expected gain of 20.2% per share.
GMP has been a trending constant over the past four sessions suggesting a strong listing. Stay tuned with Trade Target for daily updates on Dee Piping Systems IPO GMP and expected listing price.
- Date: 24 – June – 2024
- DEE Piping Systems GMP: ₹91 (44.83%)
- Date: 23 – June – 2024
- DEE Piping Systems GMP: ₹91 (44.83%)
- Date: 22 – June – 2024
- DEE Piping Systems GMP: ₹91 (44.83%)
- Date: 21 – June – 2024
- DEE Piping Systems GMP: ₹88 (43.35%)
- Date: 20 – June – 2024
- DEE Piping Systems GMP: ₹94 (46.31%)
- Date: 19 – June – 2024
- DEE Piping Systems GMP: ₹95 (46.8%)
- Date: 18 – June – 2024
- DEE Piping Systems GMP: ₹80 (39.41)
- Date: 17 – June – 2024
- DEE Piping Systems GMP: ₹50 (39.41%)
- Date: 16 – June – 2024
- DEE Piping Systems GMP: ₹50 (24.63%)
- Date: 15 – June – 2024
- DEE Piping Systems GMP: ₹50 (24.63%)
- Date: 14 – June – 2024
- DEE Piping Systems GMP: ₹50 (24.63%)
- Date: 13 – June – 2024
- DEE Piping Systems GMP: ₹41 (20.2%)
- Date: 12 – June – 2024
- DEE Piping Systems GMP: ₹41 (20.2%)
How can one apply for DEE Development Engineers IPO?
For retail investors minimum investment starts with 1 lot, comprising 73 shares, at a cost of ₹14,819. The maximum limit for retail investors is 13 lots which totals 949 shares and costs ₹192,647
For small High Net worth Individuals (S-HNIs) minimum investment is set at 14 lots, translating to 1022 shares and costing ₹207,466, while the maximum investment is 67 lots, amounting to 4891shares and costing ₹992,873
For big High Net worth Individuals (B-HNIs) minimum investment begins at 68 lots, which equals 4964 shares and has a cost of ₹1,007,692.
| Application | Lots | Shares | Amount |
|---|---|---|---|
Retail (Min) | 1 | 73 | ₹14,819 |
Retail (Max) | 13 | 949 | ₹192,647 |
S-HNI (Min) | 14 | 1,022 | ₹207,466 |
S-HNI (Max) | 67 | 4,891 | ₹992,873 |
B-HNI (Min) | 68 | 4,964 | ₹1,007,692 |
DEE Development Engineers IPO Financial
DEE Development Engineers Limited has shown varying financial performance over the past few years. For the financial year ending March 31, 2023, the company reported a Profit After Tax (PAT) of ₹12.97 crore. This was an improvement compared to the previous year, where the PAT for the year ending March 31, 2022, was ₹8.20 crore. However, the company’s PAT for the financial year ending March 31, 2021, was higher at ₹14.21 crore. This fluctuation in profitability highlights the dynamic nature of the company’s financial results over these periods.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
Assets in (₹ Crores) | 966.26 | 845.40 | 835.88 |
Revenue (₹ Crores) | 614.32 | 470.84 | 513.03 |
PAT (₹ crores) | 12.97 | 8.20 | 14.21 |
Total Borrowing (₹ crores) | 352.62 | 285.36 | 257.17 |
DEE Development Engineers IPO Vs Peers
Among its peers, Dee Development Engineers has the lowest EPS and highest P/E of 83.
| Company | EPS Basic | P/E(x) |
|---|---|---|
DEE Development Engineers Limited | 2.45 | 83 |
Isgec Heavy Engineering Ltd | 26.72 | 42.4 |
DEE Development Engineers IPO Quota allocation
- QIB Investors: 50% of the net issue
- Retail Investors: 35% of the net issue
- NII (HNI) Investors: 15% of the net issue
Expected Listing Date for DEE Development Engineers IPO
- Subscription Period: 19 June 2024 to 21 June 2024
- Basis of Allotment Finalization: 24 June 2024
- Initiation of Refunds: 25 June 2024
- Demat Credits: 25 June 2024
- Listing Date: 26 June 2024
- Listing on: BSE, NSE
