DEE Development Engineers IPO (DEE Piping Systems) IPO Review

 
DEE Piping Systems IPO Review

IPO Open Date: June 19, 2024

IPO Close Date: June 21, 2024

IPO Price: ₹193 to ₹203 per share

Lot Size: 73 Shares

Listing: June 26, 2024

DEE Piping Systems is scheduled to hit the market on June 19, 2024 and close on June 21, 2024. DEE Piping Systems plans to raise around ₹418.01 Cr through an IPO with a sale of up to 20,591,852 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Founded in 1988, DEE Development Engineers is an engineering company specializing in providing process piping solutions for various industries such as oil and gas, power, chemicals, and more. The company offers a range of services including engineering, procurement, and manufacturing of piping products like high-pressure systems, spools, pipe bends, industrial fittings, pressure vessels, stacks, skids, and related accessories. Notably, they have multiple manufacturing facilities across different locations in India and Thailand, with a significant cumulative installed capacity for producing piping products.

In a recent expansion move, the company ventured into a new business vertical by offering design, engineering, fabrication, and manufacturing services for pilot plants at one of their facilities. As of March 31, 2024, DEE Development Engineers employs over a thousand individuals, with a notable focus on skilled welders and non-destructive examination experts who hold certifications like CSWIP 3.0 and 3.1, AWS-CWI, NDE level II qualifications following ASNT/SNT-TC-1A standards, and NDE level III qualifications as per BS EN ISO 9712. This strategic focus on skilled personnel underlines the company's commitment to maintaining high-quality standards in their operations.

DEE Piping Systems



DEE Piping Systems IPO Details

DEE Piping Systems IPO opens on June 19, 2024, and closes on June 21, 2024. The Listing date for DEE Piping Systems IPO is on June 26, 2024. The price band for IPO is ₹193 to ₹203 per share and lot size of 73 Shares.

IPO DateJune 19, 2024 to June 21, 2024
Listing DateJune 26, 2024
Price₹193 to ₹203 per share
Lot Size73 Shares
Issue Size₹418.01 Cr
Face Value₹10 per share

DEE Piping Systems IPO Tentative Timetable

DEE Piping Systems opening date is June 19, 2024 and close date is June 21, 2024. The IPO allotment date is June 24, 2024. The refund initiation of IPO is on June 25, 2024. The credit of shares in demat account is on June 25, 2024. The listing date is on June 26, 2024.

EventDate
IPO OpeningJune 19, 2024
IPO ClosingJune 21, 2024
IPO Allotment DateJune 24, 2024
Refund InitiationJune 25, 2024
Shares Credit to DematJune 25, 2024
Lisiting DateJune 26, 2024

DEE Piping Systems IPO Lot Size

Lot Size of this IPO is 73 shares. A retail-individual investor can apply for up to 13 lots (949 shares or ₹192,647).

CategoryLotsSharesAmount
Retail(Minimum)173₹14,819
Retail(Maximum)13949₹192,647
S-HNI (Minimum)141,022₹207,466
B-HNI (Minimum)684,964₹1,007,692

DEE Piping Systems IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding

DEE Piping Systems IPO Review

Dee Development Engineers Ltd. (DDEL) is a leading company in providing specialized process piping solutions for industries like oil and gas, power, and chemicals. With over three and a half decades of experience, DDEL has built a strong reputation for its expertise and strategically located facilities. They offer a wide range of products including high-pressure piping systems, pipe bends, and modular skids, and provide comprehensive services such as engineering, welding, and testing. Their facilities in India and Thailand, covering a vast area, and the focus on automation and advanced manufacturing processes make DDEL a significant player in the global market.

Financially, DDEL has shown resilience and growth after the Pandemic. Despite a dip in FY22, the company reported a total income of Rs. 614.32 crore and a net profit of Rs. 12.97 crore in FY23. As of December 31, 2023, their order book stood at Rs. 828 crore, indicating strong future potential. The upcoming IPO aims to raise Rs. 418.01 crore, with Rs. 325 crore from fresh equity shares and Rs. 93.01 crore from an Offer for Sale. The funds will be used for working capital, debt repayment, and other corporate needs. Priced between Rs. 193 and Rs. 203 per share, the IPO gives the company a market capitalization of Rs. 1,401.69 crore at the upper price band. Although the pricing seems high, DDEL’s strong order book and solid fundamentals suggest promising long-term growth.

For investors, DDEL’s IPO offers an interesting opportunity. The company’s focus on automation, expansion, and leadership in process piping solutions points to sustained growth. While the aggressive pricing might be a concern, well-informed investors looking at medium to long-term gains could find this IPO appealing. DDEL’s proven track record, extensive industry experience, and strong order book make it a good option for those seeking substantial returns. Despite the high initial price, the potential for significant growth makes DDEL’s IPO worth considering for long-term investment.

DEE Piping Systems IPO Subscription Status (Bidding Details)

Table not found

DEE Piping Systems IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

DEE Piping Systems IPO FAQs

What is DEE Piping Systems IPO?

DEE Piping Systems is issuing 20,591,852 equity shares with a face value of 10 each, totaling up to ₹418.01 Cr. The shares are being offered at a price of ₹193 to ₹203 each, with a minimum order quantity of 73 shares.

Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When DEE Piping Systems IPO will open?

DEE Piping Systems will open on June 19, 2024 for QIB, NII, and Retail Investors.

When DEE Piping Systems IPO will end?

DEE Piping Systems will end on June 21, 2024.

What is DEE Piping Systems IPO Size?

DEE Piping Systems IPO size is 418.01 Cr.

What is DEE Piping Systems IPO Price Band?

DEE Piping Systems price band is ₹193 to ₹203 per share.

What is the DEE Piping Systems IPO Allotment Date?

DEE Piping Systems allotment date is June 24, 2024.

What is the DEE Piping Systems IPO Listing Date?

DEE Piping Systems listing date is June 26, 2024. The IPO is to be listed on BSE and NSE.

How to DEE Piping Systems IPO through Zerodha?

To apply for the IPO “DEE Piping Systems” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply DEE Piping Systems IPO through Upstox?

To apply for the IPO “DEE Piping Systems” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check DEE Piping Systems IPO Allotment Status?

For DEE Piping Systems IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is DEE Piping Systems IPO GMP?

You can check out here: DEE Piping Systems IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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