DEE Development Engineers IPO: Check price band, timeline, financials, allotment & more

DEE Development Engineers IPO (initial public offering) will be open for a three-day subscription window from June 19 to June 21. The ₹418 crore book-built issue has a set price band of ₹193-₹204 per equity share.

The IPO is a mix of fresh issuance of 1.6 crore shares valued at ₹325 crore, and an offer for sale (OFS) of shares worth ₹93 crore.

The per lot of order will consist of 73 shares each, aggregating to ₹14,819. Retail investors can bid for a minimum of one lot.

The net proceeds generated from the IPO will be used to fund working capital needs, prepayment and repayment of certain company borrowings, and general corporate purposes.

The book-running lead managers for the issue are Equirus Capital Private Limited and SBI Capital Markets Limited, while the registrar is Link Intime India Private Limited.

DEE Development Engineers IPO: Timeline

• Bidding period: June 19 to June 21
• Basis of Allotment: June 24
• Refunds initiation: June 25
• Credit of Shares to Demat: June 25
• Listing on BSE and NSE: June 26

About DEE Development Engineers Limited

DEE Development Engineers Limited, which was established in 1998, is an engineering company providing specialised process piping solutions for industries such as oil and gas, chemicals, power (including nuclear), and others.

The firm, which has seven manufacturing facilities, produces a variety of piping products, such as high-pressure piping systems, high-frequency induction pipe bends, piping spools, longitudinally submerged arc welding pipes, pressure vessels, industrial pipe fittings, modular skids, industrial stacks, and various accessories. Some of these accessories include desuperheaters, boiler superheater coils,and other customised components.

The company had reported a revenue of ₹614.3 crore in financial year 2022-23, up 30% from ₹470.8 in the previous fiscal. The profit after tax also increased by 58% to ₹12.9 crore in FY23.

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