DEE Piping Systems IPO: Price band, latest GMP, lot size among 10 key things to know before issue opens

  • DEE Piping Systems IPO price band has been fixed at 193 to 203 per share. The company is offering a discount of 19 per share to its employees.

Ankit Gohel
First Published17 Jun 2024, 11:41 AM IST
DEE Piping Systems IPO opens for subscription on Wednesday, June 19, and closes on Friday, June 21.
DEE Piping Systems IPO opens for subscription on Wednesday, June 19, and closes on Friday, June 21.(Photo: Company Website)

DEE Piping Systems IPO: Piping solutions provider DEE Development Engineers Ltd is set to launch its initial public offering (IPO) worth over 418 crore this week. DEE Piping Systems IPO will hit the street on June 19.

Before the DEE Piping Systems IPO opens, let us check key details of the issue:

DEE Piping Systems IPO: 10 key things to know

1] DEE Piping Systems IPO Dates: DEE Piping Systems IPO opens for subscription on Wednesday, June 19, and closes on Friday, June 21.

2] DEE Piping Systems IPO Price Band: DEE Piping Systems IPO price band has been fixed at 193 to 203 per share. The company is offering a discount of 19 per share to its employees.

Also Read: DEE Development Engineers to Stanley Lifestyles: 1,087 crore at stake; GMP, other details of three upcoming IPOs

3] DEE Piping Systems IPO Lot Size: The IPO lot size is 73 shares. The minimum investment amount required by retail investors is 14,819. 

4] DEE Piping Systems IPO Size: At the upper-end of the price band, DEE Piping Systems IPO size is worth 418.01 crore. The issue comprises a combination of fresh issue of 1.6 crore equity shares aggregating to 325 crore and an offer for sale (OFS) component of 46 lakh shares aggregating to 93.01 crore.

5] DEE Piping Systems IPO Reservation: In the IPO, the company has reserved 50% of shares for Qualified Institutional Buyers (QIBs), 35% for Retail Investors and 15% for Non Institutional Investors (NII).

6] DEE Piping Systems IPO Allotment: The DEE Piping Systems IPO allotment is expected to be finalized on June 24.

Also Read: Medicamen Organics IPO price band set at 32 - 34 per share; check GMP, other key details of SME IPO

7] DEE Piping Systems IPO Listing: The equity shares of DEE Development Engineers will list on BSE, NSE with tentative listing date fixed as June 26.

8] DEE Piping Systems IPO Objectives: The company proposes to utilise the net issue proceeds for funding working capital requirements prepayment or repayment of all or a portion of certain outstanding borrowings and general corporate purposes.

9] DEE Piping Systems IPO BRLM & Registrar: SBI Capital Markets and Equirus Capital are the book running lead managers of the DEE Piping Systems IPO, while Link Intime India Private Ltd is the IPO registrar.

10] DEE Piping Systems IPO GMP Today: DEE Piping Systems IPO GMP today, or grey market premium today, is 50 per share, according to stock market observers. This means that DEE Piping Systems shares are trading high by 50, or at a premium of 24.63%, at 253 apiece in the grey market, as against the IPO price of 203 per share.

Also Read: ixigo IPO: Here's what GMP signals ahead of listing on June 18

About DEE Development Engineers:

DEE Development Engineers is an engineering company that manufactures and supplies piping products. It provides specialized process piping solutions for oil and gas, power, chemicals, and other process industries.

The company has seven manufacturing facilities in Haryana, Gujarat, Rajasthan, Assam and Thailand, with three manufacturing facilities located in Palwal, Haryana.

Read here: DEE Development IPO to kick off for subscription on June 19; check out 10 key things to know from RHP before investing

Krishan Bansal, Ashima Bansal and DDE Piping Components Private Limited are the promoters of the company.

The company reported a net profit of 12.97 crore and a revenue of 614.32 crore in FY23 as against a net profit of 8.20 crore and revenue of 470.84 crore in FY22.

For the nine months ended December 2023, the company’s net profit and revenue were 14.34 crore and 557.86 crore, respectively. 

Read all IPO news here

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First Published:17 Jun 2024, 11:41 AM IST
HomeMarketsIPODEE Piping Systems IPO: Price band, latest GMP, lot size among 10 key things to know before issue opens

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