Dee Development Engineers IPO
IPO Listing Details
- Listing Date
26 Jun 2024
- Listing Price
₹325.00
- Listing Change
60.10%
- Last Traded Price
₹267.60
IPO Details
- Open Date
19 Jun 2024
- Close Date
21 Jun 2024
- IPO
Price Range
₹ 193 to ₹ 203
- IPO
Size
₹ 418.01 Cr
- Listing Exchange
BSE, NSE
- Listing Date
26 Jun 2024
IPO Timeline
Dee Development Engineers IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 19-Jun-24 | 0.03 | 5.54 | 2.87 | 2.66 |
| 20-Jun-24 | 0.16 | 22.67 | 8.90 | 9.43 |
| 21-Jun-24 | 206.54 | 148.81 | 23.02 | 102.58 |
Last Updated: 05 July 2024 10:35 AM by 5Paisa
Last Updated: 21st June 2024, 05:49 PM by 5paisa
DEE Development Engineers IPO is set to open from 19th June to 21st June 2024. The company is engaged in the business of providing g specialised process piping solutions. The IPO includes a fresh issue of 16,009,852 shares worth ₹325 cr and an Offer-for-Sale (OFS) of 4,582,000 shares worth ₹93.01 cr. The total IPO size is ₹418.01 cr. The share allotment date is 24th June 2024, and the IPO will be listed on 26th June 2024 on the stock exchanges. The price band is set at ₹193 to ₹203 and the lot size is 73 shares. The employees will get a ₹19 per share discount.
SBI Capital Markets Limited and Equirus Capital Private Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of DEE Development Engineers IPO
● To repay or prepay the debt borrowed by the company in full or partially.
● For working capital requirements.
● For general corporate purposes.
DEE Development Engineers IPO Video
DEE Development Engineers IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 418.01 |
| Offer for sale | 93.01 |
| Fresh issue | 325.00 |
DEE Development Engineers IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 73 | ₹14,819 |
| Retail (Max) | 13 | 949 | ₹192,647 |
| S-HNI (Min) | 14 | 1022 | ₹207,466 |
| S-HNI (Max) | 67 | 4,891 | ₹992,873 |
| B-HNI (Min) | 68 | 4,964 | ₹1,007,692 |
DEE Development Engineers IPO Anchor Allocation
| Anchor Bid Date | 18 June, 2024 |
| Total no. of shares offered | 6,162,777 |
| Portion Size for Anchor Investors | 125.10 Cr. |
| Lock in Period for 50% shares (30 days) | 24 July, 2024 |
| Lock in Period for rest of shares (90 days) | 22 September, 2024 |
Established in 1988, DEE Development Engineers Limited is engaged in the business of providing g specialised process piping solutions. These solutions are used in a wide range of industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing.
Additionally, it also makes and supplies 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 including, boiler superheater coils, de-super heaters and other customised manufactured components.
With years of experience, Dee Development Engineers is known as one of the leading process pipe solution providers globally, in terms of technical capability to address complex process piping requirements arising from multiple industrial segments. It has 7 Manufacturing Facilities which are in Palwal (Haryana), Anjar (Gujarat), Barmer (Rajasthan), Numaligarh (Assam) and Bangkok (Thailand). Three manufacturing units are based in Palwal, (Haryana).
In addition to India, the company supplies products to the USA, Europe, Japan, Canada, the Middle East, Nigeria, Vietnam, Singapore, China and Taiwan. Some of its renowned clients are Reliance Industries Limited, Thermax Babcock & Wilcox Energy Solutions Limited India, HPCL–Mittal Energy Limited, Toshiba JSW Power Systems Private Limited, UOP India Private Limited, Doosan Power Systems India Private Limited and Andritz Technologies Private Limited, etc.
Peer Comparison
● Isgec Heavy Engineering Limited
For More Information:
Webstory on DEE Development Engineers IPO
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 595.49 | 460.91 | 495.21 |
| EBITDA | 69.17 | 64.60 | 53.68 |
| PAT | 12.97 | 8.19 | 14.20 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 966.25 | 845.39 | 835.87 |
| Share Capital | 10.60 | 10.60 | 15.69 |
| Total Borrowings | 542.61 | 433.41 | 381.55 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 13.93 | 67.14 | 95.54 |
| Net cash from / (used in) investing activities | -51.97 | -22.14 | -6.77 |
| Net cash flow from / (used in) financing activities | 39.51 | -49.71 | -87.58 |
| Net increase (decrease) in cash and cash equivalents | 1.47 | -4.71 | 1.18 |
Strengths
1. The company is a leading player in an industry with significant barriers to entry.
2. It is also the largest company in process piping solutions in India, in terms of installed capacity, providing specialised process piping solutions.
3. Strategically located state-of-the-art Manufacturing Facilities are a big plus.
4. It has long-standing relationships with customers.
5. A strong order book.
6. A wide range of specialised product offerings and services are offered by the company.
7. The company has a Strong focus on automation and process excellence with an experienced engineering team to drive operational efficiencies.
8. Experienced management team.
Risks
1. The company has to follow high-quality standards and stringent performance requirements expected by customers.
2. Any downturn in the oil and gas, power (including nuclear), process industries, and chemical sectors can impact the business.
3. A major part of revenue comes from the engineering services and supplies segment.
4. Faces competition in Indian and global markets.
5. It has reported negative cash flows in the past.
6. Exposed to foreign exchange risks.
7. High working capital requirements.
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FAQs
DEE Development Engineers IPO opens from 19th June to 21st June 2024.
The size of DEE Development Engineers IPO is ₹418.01 cr.
To apply for DEE Development Engineers IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for DEE Development Engineers IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The price band of DEE Development Engineers IPO is set at ₹193 to ₹203 per share.
The minimum lot size of DEE Development Engineers IPO is 73 shares and the minimum investment required to apply for the IPO is ₹14,089.
The share allotment date of DEE Development Engineers IPO is 24th June 2024.
The DEE Development Engineers IPO will be listed on 26th June 2024.
SBI Capital Markets Limited and Equirus Capital Private Limited are the book-running lead managers for DEE Development Engineers IPO.
DEE Development Engineers will use the proceedings from the public issue for:
● To repay or prepay the debt borrowed by the company in full or partially.
● For working capital requirements.
● For general corporate purposes.
Contact Information
Dee Development Engineers
DEE Development Engineers Limited
Unit 1, Prithla-Tatarpur Road,
Village Tatarpur,
Dist. Palwal, Faridabad- 121102,
Phone: +91 1275 248345
Email: secretarial@deepiping.com
Website: https://www.deepiping.com/
Dee Development Engineers IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: dde.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Dee Development Engineers IPO Lead Manager
Equirus Capital Private Ltd
SBI Capital Markets Ltd
