DEE Piping Systems IPO booked two times on first day: Check subscription status, price band and lot size

DEE Development Engineers Ltd IPO (DEE Piping Systems IPO) opened to decent demand on Wednesday, June 19, as the issue was booked over 2 times on the first day of bidding.

DEE Piping Systems Ltd IPO received bids for over 3.74 crore shares against 1.49 crore shares on offer, according to the NSE data. The issue was subscribed 2.51 times on the first day of bidding.

The Non-Institutional Investors (NIIs) placed bids for 1.69 crore shares compared to the 32.05 lakh shares set aside for the category. The issue was booked 5.29 times in the NIIs category.

Retail investors bid for 1.99 crore shares compared to the 74.79 lakh shares reserved for the category, leading to a subscription of 2.67 times.

The Qualified Institutional Buyers’ (QIB) category was booked 2% as investors applied for 1.03 lakh shares against 42.02 lakh shares set aside for them.

Employees led the demand for the issue as they placed bids for 4.04 lakh shares compared to the 57,471 shares reserved for them. The Employees’ portion was booked 7.04 times.

DEE Piping Systems IPO size

DEE Piping Systems IPO (DEE Development Engineers) is a book-built issue valued at ₹418.01 crore. The issue is a combination of a fresh issue of 1.6 crore shares which aggregate to ₹325 crore shares along with an offer for sale of 46 lakh shares which amounts to ₹93.01 crore.

DEE Piping Systems IPO price band and lot size

DEE Piping Systems IPO price band has been set at ₹193 to ₹203 per share. The lot size to apply for the public issue is 1 lot comprising 73 shares which aggregates to a minimum investment of ₹14,819 for retail investors.

DEE Piping Systems IPO: Share allotment status and listing date

The DEE Piping Systems IPO subscription window opened today, June 19, and will close on Friday, June 21. DEE Piping Systems’ share allotment is likely to be finalised on Monday, June 24. Successful bidders will receive shares of DEE Piping Systems in their Demat account on Tuesday, June 25, and refunds for unsuccessful bidders will be initiated on the same day. DEE Piping Systems’ shares are likely to debut on the NSE and BSE on Wednesday, June 26.

The registrar for the DEE Piping Systems IPO is Link Intime India Private Ltd. The book-running lead managers for the DEE Piping Systems IPO are SBI Capital Markets Limited and Equirus Capital Private Limited.

DEE Piping Systems IPO: Objective

DEE Piping Systems plans to use the money raised via the public issue to fund its working capital requirements and to prepay or repay some of the company’s borrowings.

About DEE Piping Systems Limited

DEE Piping Systems Limited, founded in 1988, is an engineering company that provides specialised process piping solutions for various sectors. The company is a manufacturer of piping products such as high-pressure piping systems, piping spools, high-frequency induction pipe bends and other such products. The company has seven manufacturing facilities located across India and Thailand.

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