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 name | DEE Development Engineers Limited |
| Sector | Capital Goods |
| Industry | Engineering – Industrial Equipments |
| Company Website | https://www.deepiping.com/ |
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 date | 19 June 2024 |
| IPO Closing | 21 June 2024 |
| Basis of Allotment | 24 June 2024 |
| Initiation Refund | 25 June 2024 |
| Credit to Demat Account | 25 June 2024 |
| Listing Date | 26 June 2024 |
DEE Piping Systems IPO details
| Issue type | Book 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 size | 73 Shares |
| Employee Discount | ₹19 per share |
| Shareholding pre-issue | 53,039,140 |
| Shareholding post-issue | 69,048,992 |
| Listing Exchange | BSE & NSE |
DEE Piping Systems IPO Lot Size
| 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 |
DEE Piping Systems Offer Documents
DEE Piping Systems IPO Reservation Details
| 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 Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 495.22 | 460.92 | 595.50 | 545.55 |
| Expenses | 504.20 | 457.55 | 593.95 | 538.83 |
| Net income | 14.21 | 8.20 | 12.97 | 14.34 |
| Margin (%) | 2.87 | 1.78 | 2.18 | 2.63 |
DEE Piping Systems Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 2.68 | 1.55 | 2.45 | 2.77 |
| PE Ratio | – | – | 78.87 – 82.95 | 69.65 – 73.26 |
| FY 2021 | FY 2022 | FY 2023 | |
| RONW (%) | 3.17 | 2.04 | 3.14 |
| NAV | 84.62 | 75.73 | 78.06 |
| ROCE (%) | 2.47 | 3.99 | 3.19 |
| EBITDA (%) | 10.84 | 14.02 | 11.62 |
| Debt/Equity | 0.36 | 0.41 | 0.45 |
Company Promoters
- Krishan Lalit Bansal
- Ashima Bansal
- DDE Piping Components Private Limited.
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
DEE Piping Systems IPO GMP Update
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 25 June 2024 | 90 | – | 5,100 |
| 24 June 2024 | 90 | – | 5,200 |
| 22 June 2024 | 90 | – | 5,200 |
| 21 June 2024 | 93 | – | 5,300 |
| 20 June 2024 | 90 | – | 5,200 |
| 19 June 2024 | 80 | – | 4,500 |
| 18 June 2024 | 50 | – | 3,900 |
| 17 June 2024 | 50 | – | 5,100 |
| 15 June 2024 | 40 | – | 4,700 |
| 14 June 2024 | 47 | – | 6,200 |
| 13 June 2024 | 50 | – | 6,800 |
DEE Piping Systems IPO Subscription Update
| 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 |
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 Date | 26 June 2024 |
| BSE Scrip Code | 544198 |
| NSE Symbol | DEEDEV |
| ISIN | INE841L01016 |
| Final Issue Price | ₹203 per share |
DEE Piping Systems Listing Day Update
| Listing Exchange | BSE | NSE |
| Final Issue Price | ₹203.00 | ₹203.00 |
| Open | ₹325.00 | ₹339.00 |
| Low | ₹310.20 | ₹310.00 |
| High | ₹365.70 | ₹365.70 |
| 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
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: dee.ipo@linkintime.co.in
Website: www.linkintime.co.in
DEE Piping Systems Contact Details
DEE DEVELOPMENT ENGINEERS LIMITED
Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist.
Palwal, Faridabad, Haryana – 121102, India
Phone: +91 1275 248345
Email: secretarial@deepiping.com
Website: www.deepiping.com
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
