IPO

DEE Development Engineers Limited IPO

Mainboard

Industrial Products

Listed On: Jun 26, 2024 at ₹ 339.0(NSE)

₹ 14819 /73 Shares

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Price Summary

Last Closing

307.80 (51.63%)

52 Week High

400.00

52 Week Low

303.00

Last Update

19-Sep-2024 3:30 PM

DEE Development Engineers Limited IPO Details

19 Jun, 2024

Open Date

21 Jun, 2024

Close Date

24 Jun, 2024

Allotment Date

26 Jun, 2024

Listing Date

Issue Price

₹193-203 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

339.0(NSE)

Listing Date

2024-06-26

Market Lot

Retail : 73 Shares (₹14,819/-)
S-HNI : 1,022 Shares (₹2,07,466/-)
B-HNI : 4,964 Shares (₹10,07,692/-)

Lead Manager

SBI Capital Markets Limited
Equirus Capital Private Limited

Issue Size

Total ₹418.01 Cr :
#Fresh Issue : 16,009,852 shares(aggregating up to ₹325.00 Cr) +
#OFS : 4,582,000 shares of ₹10(aggregating up to ₹93.01 Cr)

Retail Portion

35% (Number of Retail Applications: 98,492 Approx),
(Number of S-HNI Applications : 1,005 Approx),
(Number of B-HNI Applications : 2,010 Approx)

Subscription

98.09 times

IPO Docs

DRHP RHP ANCHOR

DEE Development Engineers Limited IPO Subscription Details

As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved4,108,5183,081,389
2,054,260    1,027,129		3,657,50014,379,814
Day 1 - 19-06-24 05:00 PM0.02 x5.29
5.15 x   5.57 x		2.68 x2.51 x
Day 2 - 20-06-24 05:00 PM0.16 x21.73
21.29 x   22.62 x		8.43 x9.00 x
Day 3 - 21-06-24 05:00 PM201.91 x142.26
159.30 x   108.18 x		21.27 x98.09 x
Total No. of Applications: 19,42,706 (Approx)

DEE Development Engineers Limited Valuations

EPS Pre IPO

₹2.45/-

EPS Post IPO

₹2,77/-

P/E Pre IPO

83

P/E Post IPO

73.33

RoNW

3.35%

DEE Development Engineers Limited Company Financials All values are in ₹ Cr.

31-Mar-2331-Mar-2231-Mar-21
Assets966.26845.40835.88
Revenue614.32470.84513.03
Profit After Tax12.978.2014.21
Net Worth413.70401.37448.50
Reserves & Surplus408.17395.85432.81
Total Borrowing352.62285.36257.17

About The Company

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.

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DEE Development Engineers Limited - Strength and Weakness

Strength

DEE Development leads with significant industry entry barriers, skilled labour, and complex tech requirements.

Holds a strategic leadership position fueled by longstanding global customer relationships.

Extensive product range, including high-pressure systems and specialised piping solutions.

Strong customer retention evidenced by long-term relationships and robust order books.

Weakness

Non-compliance with stringent customer standards could lead to recalls and claims, affecting financial stability.

Dependence on a few customers, with the top 10 contributing 66.18% of revenue, poses a significant business risk.

Exposure to sectors like oil and gas, with 52.76% revenue dependency, subjects business to market volatility.

Rapid technological changes could outdate products; failure to innovate might result in a loss of competitiveness.

DEE Development Engineers Limited - Promoter(s)

Pre Issue Share Holding: N/A%

Post Issue Share Holding: N/A%

Company Promoter(s)

  1. Krishan Lalit Bansal
  2. Ashima Bansal
  3. DDE Piping Components Private Limited

DEE Development Engineers Limited IPO - Issue Objectives

  1. Funding working capital requirements of the Company
  2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company
  3. General corporate purposes

DEE Development Engineers Limited IPO - Anchor Investors

Dee Development Engineers garners Rs 125 crore from anchor investors.

Citigroup Global Markets Mauritius, Morgan Stanley Asia (Singapore) Pte, Aurigin Master Fund, Pinebridge Global Funds, SBI General Insurance Company, are among the funds who have been allocated shares.

In addition, Kotak Mahindra Mutual Fund, LIC Mutual Fund, HDFC Mutual Fund and Aditya Birla Sun Life Mutual Fund have been allocated shares in the anchor round.

Other Details

Company Contact Details

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/

Registrar Contact Details

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 Development Engineers Limited IPO - FAQs

Ans. DEE Development Engineers Limited IPO is a Mainboard IPO. The issue is priced at ₹193-203 per equity share. The minimum order quantity is 73 Shares. The IPO opens on Jun 19, 2024, and closes on Jun 21, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The DEE Development Engineers Limited IPO opens on Jun 19, 2024 and closes on Jun 21, 2024.

Ans. The size of DEE Development Engineers Limited IPO is Total ₹418.01 Cr : #Fresh Issue : 16,009,852 shares(aggregating up to ₹325.00 Cr) + #OFS : 4,582,000 shares of ₹10(aggregating up to ₹93.01 Cr).

Ans. The IPO price band is set between ₹193-203 per equity share.

Ans. To apply for DEE Development Engineers Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find DEE Development Engineers Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of DEE Development Engineers Limited IPO is Jun 24, 2024.

Ans. The DEE Development Engineers Limited IPO will be listed on Jun 26, 2024.

Ans. Follow the steps to check the allotment status for DEE Development Engineers Limited IPO here.