DEE Piping Systems IPO is a mix of fresh issue of 1.6 crore shares amounting to Rs 325 crore and an offer for sale of 46 lakh shares totalling Rs 93.01 crore.
In Short
- Price band set at Rs 193-203 per share
- Final share allotment on June 24, 2024
- Shares list on BSE and NSE on June 26, 2024
The initial public offering (IPO) of DEE Development Engineers Limited (DEE Piping Systems) is set to open for bidding on Wednesday.
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DEE Development Engineers Limited is an engineering firm that was established in 1988, offering specialised process piping solutions to various industries, including oil and gas, power (both conventional and nuclear), chemicals, and other process sectors. Their services encompass engineering, procurement, and manufacturing.
The company produces and supplies an array of piping products, such as 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.
Subscription period: The IPO of DEE Piping Systems will be open for subscription from June 19 until June 21, 2024
Price band: The price band for the DEE Piping Systems IPO is set between Rs 193 and Rs 203 per share.
Fundraising target: DEE Piping Systems (DEE Development Engineers Limited) IPO is a book-built issue worth Rs 418.01 crore.
Issue division: The IPO is a mix of fresh issue of 1.6 crore shares amounting to Rs 325 crore and an offer for sale of 46 lakh shares totalling Rs 93.01 crore.
Lot size: The minimum lot size for an application is 73 shares, requiring a minimum investment of Rs 14,819 for retail investors.
For sNII, the minimum investment is 14 lots (1,022 shares) totaling Rs 2,07,466, and for bNII, it is 68 lots (4,964 shares) amounting to Rs 10,07,692.
Allotment date: Finalisation of share allocation for the DEE Piping Systems IPO is expected on June 24, 2024.
Listing date: The shares of DEE Piping Systems will list on stock exchanges on June 26, 2024.
Registrar: Link Intime India Private Ltd is the registrar for the issue of DEE Piping Systems IPO.
Listing platforms: The shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Grey market premium (GMP): The latest Grey Market Premium (GMP) for the DEE Piping Systems IPO is Rs 68 as of June 18, 2024 at 12:53 PM, suggesting an estimated listing price of Rs 271. This indicates an expected percentage gain per share of 33.50%.
