DEE Development Engineers IPO subscription starts on June 19: Price band to lot size, check key details

The initial public offer (IPO) of engineering company DEE Development Engineers Limited (DEE Piping Systems) will open for subscription on Wednesday, June 19. The company specialises in providing process piping solutions for various industries, including oil and gas, power, chemicals, and other process industries.

Here are 5 key things you should know before participating in the bidding process of the public issue.

DEE Development Engineers IPO offer size

The DEE Development Engineers IPO is a book-building issue worth ₹418 crore. This includes a fresh issue of 1.6 crore shares amounting to ₹325 crore and an offer-for-sale component of 46 lakh shares worth ₹93.01 crore. The DEE Development Engineers IPO is set to list both on the BSE and National Stock Exchange (NSE).

DEE Development Engineers IPO dates

DEE Development Engineers IPO opens for subscriptions on Wednesday, June 19, and closes on Friday, June 21. Following the bidding process, the IPO allotment status is expected to be finalised on June 24. Subsequently, refunds to unsuccessful applicants will be initiated on June 25. The credit of shares to successful investors’ Demat accounts will also be done the same day. The IPO listing date has been tentatively scheduled as June 26.

DEE Development Engineers IPO price band, lot size and minimum investment

DEE Development Engineers IPO price band has been set at ₹193 to ₹203 per share. The minimum lot size for an application for retail investors is 73 shares, totalling to an investment of ₹14,819.

The promoters of DEE Development Engineers are Krishan Lalit Bansal, Ashima Bansal and DDE Piping Components Private Limited. The promoters hold 100% stake in the company.

SBI Capital Markets Limited and Equirus Capital Private Limited are serving as the book-running lead managers for the DEE Development Engineers IPO, while Link Intime India Private Ltd is acting as the registrar for the issue.

DEE Piping Systems IPO objective

The company aims to use the net proceeds from the IPO to achieve several key objectives. The company intends to fund its working capital requirements. A portion of the proceeds will be used to prepay or repay certain outstanding borrowings. The remaining funds will be allocated for general corporate purposes.

DEE Development Engineers

DEE Development Engineers was founded in 1988. The company operates seven manufacturing facilities across Palwal (Haryana), Anjar (Gujarat), Barmer (Rajasthan), Numaligarh (Assam) and Bangkok, Thailand, with three facilities located in Palwal.

Apart from providing piping solutions to various industries, the company manufactures and supplies a range of 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 like boiler superheater coils, de-superheaters, and other customised components.

Key financials (₹cr)

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