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DEE Piping Systems IPO is a book built issue of Rs 418.01 crores. The issue is a combination of fresh issue of 1.6 crore shares aggregating to Rs 325.00 crores and offer for sale of 0.46 crore shares aggregating to Rs 93.01 crores.
DEE Piping Systems IPO bidding started from June 19, 2024 and ended on June 21, 2024. The allotment for DEE Piping Systems IPO was finalized on Monday, June 24, 2024. The shares got listed on BSE, NSE on June 26, 2024.
DEE Piping Systems IPO price band is set at ₹193 to ₹203 per share. The minimum lot size for an application is 73 Shares. The minimum amount of investment required by retail investors is ₹14,819. The minimum lot size investment for sNII is 14 lots (1,022 shares), amounting to ₹207,466, and for bNII, it is 68 lots (4,964 shares), amounting to ₹1,007,692.
SBI Capital Markets Limited and Equirus Capital Private Limited are the book running lead managers of the DEE Piping Systems IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to DEE Piping Systems IPO RHP for detailed information.
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | June 26, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹203 per share |
| Lot Size | 73 Shares |
| Total Issue Size | 20,591,852 shares (aggregating up to ₹418.01 Cr) |
| Fresh Issue | 16,009,852 shares (aggregating up to ₹325.00 Cr) |
| Offer for Sale | 4,582,000 shares of ₹10 (aggregating up to ₹93.01 Cr) |
| Employee Discount | Rs 19 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 53,039,140 |
| Share holding post issue | 69,048,992 |
DEE Piping Systems IPO offers 20,542,591 shares. 4,108,518 (20.00%) to QIB, 3,081,389 (15.00%) to NII, 7,189,907 (35.00%) to RII and 6,162,777 (30.00%) to Anchor investors. 98,491 RIIs will receive minimum 73 shares and 1,005 (sNII) and 2,010 (bNII) will receive minimum 1,022 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 6,162,777 (30.00%) | NA |
| QIB Shares Offered | 4,108,518 (20.00%) | NA |
| NII (HNI) Shares Offered | 3,081,389 (15.00%) | |
| bNII > ₹10L | 2,054,260 (10.00%) | 2,010 |
| sNII < ₹10L | 1,027,129 (5.00%) | 1,005 |
| Retail Shares Offered | 7,189,907 (35.00%) | 98,491 |
| Total Shares Offered | 20,542,591 (100%) |
DEE Piping Systems IPO raises Rs 125.10 crore from anchor investors. DEE Piping Systems IPO Anchor bid date is June 18, 2024. DEE Piping Systems IPO Anchor Investors list
| Bid Date | June 18, 2024 |
| Shares Offered | 6,162,777 |
| Anchor Portion Size (In Cr.) | 125.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 22, 2024 |
DEE Piping Systems IPO opens on June 19, 2024, and closes on June 21, 2024.
| IPO Open Date | Wednesday, June 19, 2024 |
| IPO Close Date | Friday, June 21, 2024 |
| Basis of Allotment | Monday, June 24, 2024 |
| Initiation of Refunds | Tuesday, June 25, 2024 |
| Credit of Shares to Demat | Tuesday, June 25, 2024 |
| Listing Date | Wednesday, June 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 21, 2024 |
Investors can bid for a minimum of 73 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 73 | ₹14,819 |
| Retail (Max) | 13 | 949 | ₹192,647 |
| S-HNI (Min) | 14 | 1,022 | ₹207,466 |
| S-HNI (Max) | 67 | 4,891 | ₹992,873 |
| B-HNI (Min) | 68 | 4,964 | ₹1,007,692 |
| Lot Size Calculator | |||
The Promoters of the company are Krishan Lalit Bansal, Ashima Bansal and DDE Piping Components Private Limited.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Founded in 1988, DEE Development Engineers Limited is an engineering company that provides specialized process piping solutions for oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing.
The company also manufactures 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. These accessories include boiler superheater coils, de-superheaters, and other customized manufactured components.
The company has seven manufacturing facilities in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand, with three manufacturing facilities located in Palwal, Haryana.
The company's manufacturing facilities had a cumulative installed capacity of 70,875 MT for the nine months ended December 31, 2023, with annual capacities of 94,500 MT, 91,500 MT, and 86,500 MT for Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively.
The company recently expanded into a new business vertical, offering design, engineering, fabrication, and manufacturing of pilot plants at Palwal Facility III.
As of March 31, 2024, the company has 1,061 employees, including 54 highly skilled welders with certifications like CSWIP 3.0 and 3.1, AWS-CWI, and CWV, and 53 employees are highly skilled in non-destructive examination with certifications like NDE level II qualifications as per ASNT/SNT-TC-1A, and NDE level III qualifications as per BS EN ISO 9712.
DEE Development Engineers Limited's revenue increased by 30.47% and profit after tax (PAT) rose by 58.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,171.01 | 966.26 | 845.40 | 835.88 |
| Revenue | 557.86 | 614.32 | 470.84 | 513.03 |
| Profit After Tax | 14.34 | 12.97 | 8.20 | 14.21 |
| Net Worth | 428.19 | 413.70 | 401.37 | 448.50 |
| Reserves and Surplus | 380.23 | 408.17 | 395.85 | 432.81 |
| Total Borrowing | 407.14 | 352.62 | 285.36 | 257.17 |
| Amount in ₹ Crore | ||||
The market capitalization of DEE Piping Systems IPO is Rs 1401.69 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROCE | 3.91% |
| Debt/Equity | 0.85 |
| RoNW | 3.35% |
| P/BV | 2.46 |
| PAT Margin (%) | 2.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.45 | 2.77 |
| P/E (x) | 83 | 73.33 |
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
[Dilip Davda] DDEL is one of the niche player in specialized piping solutions globally and enjoys credentials with long term relationship with renowned customers. It marked steady growth post the Pandemic year and is poised for bright prospects ahead if their order book worth Rs. 828+ cr. as of December 31, 2023, has any indication. Though the issue appears aggressively priced based on its annualized earnings for FY24, it holds long term promises. Well-informed investors may park funds for the medium to long term rewards Read detail review...
The DEE Piping Systems IPO is subscribed 103.03 times on June 21, 2024 6:19:06 PM. The public issue subscribed 23.66 times in the retail category, 206.54 times in the QIB category, and 149.38 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 206.54 |
| NII | 149.38 |
| bNII (bids above ₹10L) | 165.71 |
| sNII (bids below ₹10L) | 116.73 |
| Retail | 23.66 |
| Total | 103.03 |
Total Application : 2,104,858 (21.37 times)
| Listing Date | June 26, 2024 |
| BSE Script Code | 544198 |
| NSE Symbol | DEEDEV |
| ISIN | INE841L01016 |
| Final Issue Price | ₹203 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹203.00 |
| ₹325.00 |
| ₹310.20 |
| ₹365.70 |
| ₹335.00 |
| NSE |
|---|
| ₹203.00 |
| ₹339.00 |
| ₹310.00 |
| ₹365.70 |
| ₹335.32 |
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/
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 Piping Systems IPO is a main-board IPO of 20,591,852 equity shares of the face value of ₹10 aggregating up to ₹418.01 Crores. The issue is priced at ₹193 to ₹203 per share. The minimum order quantity is 73 Shares.
The IPO opens on June 19, 2024, and closes on June 21, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in DEE Piping Systems IPO using UPI as a payment gateway. Zerodha customers can apply in DEE Piping Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in DEE Piping Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The DEE Piping Systems IPO opens on June 19, 2024 and closes on June 21, 2024.
DEE Piping Systems IPO lot size is 73 Shares, and the minimum amount required is ₹14,819.
You can apply in DEE Piping Systems IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for DEE Piping Systems IPO will be done on Monday, June 24, 2024, and the allotted shares will be credited to your demat account by Tuesday, June 25, 2024. Check the DEE Piping Systems IPO allotment status.
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