DEE Piping Systems IPO

DEE Piping Systems IPO will open for subscription from 19 June 2024. The company aims for an issue size of ₹418.01 Cr through this IPO.

Company Overview

Full nameDEE Development Engineers Limited
SectorCapital Goods
IndustryEngineering – Industrial Equipments
Company Website

About Company

Dee Development is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing. It also manufactures and supplies piping products such as high-pressure piping systems, piping spools, high-frequency induction pipe bends, LSAW pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids and accessories including, boiler superheater coils, de-super heaters, and other customized manufactured components.

The company has 6 strategically located manufacturing facilities in Haryana, Gujarat, Rajasthan, and Thailand, with 3 manufacturing facilities in Haryana. In FY 2023, the company’s manufacturing facilities had a cumulative installed capacity of 94,500 metric tonnes annually. The company supplied the products to customers in the USA, Europe, Japan, Canada, the Middle East, Nigeria, Vietnam, Singapore, China and Taiwan. The company’s revenue from contracts with customers outside India was INR 268.59 crore, translating to 45.1% of revenues during FY 2023.

The Objectives of the Issue

  • Funding working capital requirements of the Company;
  • Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
  • General corporate purposes

DEE Piping Systems IPO Timetable

IPO Opening date19 June 2024
IPO Closing21 June 2024
Basis of Allotment24 June 2024
Initiation Refund25 June 2024
Credit to Demat Account25 June 2024
Listing Date26 June 2024
(Cut-off time for UPI mandate confirmation – 5 PM on June 21, 2024)

DEE Piping Systems IPO details

Issue typeBook Built Issue IPO
IPO issue size₹418.01 Cr – 20,591,852 shares
Fresh Issue₹325.00 Cr – 16,009,852 shares
Offer for sale₹93.01 Cr – 4,582,000 shares
Face value₹10 per share
Price Band ₹193 to ₹203 per share
Lot size73 Shares
Employee Discount₹19 per share
Shareholding pre-issue53,039,140
Shareholding post-issue69,048,992
Listing ExchangeBSE & NSE

DEE Piping Systems IPO Lot Size

Retail (Min)173₹14,819
Retail (Max)13949₹192,647
S-HNI (Min)141,022₹207,466
S-HNI (Max)674,891₹992,873
B-HNI (Min)684,964₹1,007,692

DEE Piping Systems Offer Documents

DEE Piping Systems IPO Reservation Details

Investor CategoryShares OfferedMaximum Allottees 
Anchor Investor Shares Offered6,162,777 (30.00%)NA
QIB Shares Offered4,108,518 (20.00%)NA
NII (HNI) Shares Offered3,081,389 (15.00%)
  bNII > ₹10L2,054,260 (10.00%)2,010
  sNII < ₹10L1,027,129 (5.00%)1,005
Retail Shares Offered7,189,907 (35.00%)98,491
Total Shares Offered20,542,591 (100%)

DEE Piping Systems Financial Performance

 FY 2021FY 2022FY 20239M FY 2024
Net income14.218.2012.9714.34
Margin (%)2.871.782.182.63
(Amount in ₹ Crores)

DEE Piping Systems Valuations & Margins

FY 2021FY 2022FY 2023
(Pre Issue)
FY 2024
PE Ratio78.87 – 82.9569.65 – 73.26
(* Calculated on the basis of annualized Profits After Tax for FY 2024)
FY 2021FY 2022FY 2023
RONW (%)
ROCE (%)2.473.993.19
EBITDA (%)10.8414.0211.62

Company Promoters

  • Krishan Lalit Bansal
  • Ashima Bansal
  • DDE Piping Components Private Limited.

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding

DEE Piping Systems IPO GMP Update

DateDay-wise IPO GMPKostakSubject to Sauda
25 June 2024905,100
24 June 2024905,200
22 June 2024905,200
21 June 2024935,300
20 June 2024905,200
19 June 2024804,500
18 June 2024503,900
17 June 2024505,100
15 June 2024404,700
14 June 2024476,200
13 June 2024506,800

DEE Piping Systems IPO Subscription Update

CategorySubscription (times)
    bNII (bids above ₹10L)165.71
    sNII (bids below ₹10L)116.73

DEE Piping Systems IPO Allotment Status

Dee Development IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

DEE Piping Systems IPO Listing Details

Listing Date26 June 2024
BSE Scrip Code544198
Final Issue Price₹203 per share

DEE Piping Systems Listing Day Update

Listing ExchangeBSENSE
Final Issue Price₹203.00₹203.00
Last Trade₹335.00₹335.32

DEE Piping Systems IPO Lead Manager(s)

  • SBI Capital Markets Limited
  • Equirus Capital Private Limited

DEE Piping Systems Registrar

C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949

DEE Piping Systems Contact Details

Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist.
Palwal, Faridabad, Haryana – 121102, India
Phone: +91 1275 248345

DEE Piping Systems IPO FAQs

How many shares in Dee Development IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.

How to apply for an Dee Development Public Offer?

The best way to apply for Dee Development’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.

What is Dee Development IPO GMP today?

Dee Development IPO GMP today is INR 90 per share.

What is Dee Development kostak rate today?

Dee Development kostak rate today is INR NA per application.

What is Dee Development Subject to Sauda rate today?

Dee Development Subject to Sauda rate today is INR 5,100 per application.

Final thoughts

DEE Piping Systems IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.

Happy Investing

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