DDEL set to launch its IPO on June 19 (Check Price)

DEE Development Engineers Limited (DDEL) is set to launch its Initial Public Offering (IPO) on June 19, with the closing date slated for June 21.

The company aims to raise Rs 418 crore through this IPO, offering shares at a price range of Rs 193-203 per share.

Key Details of the IPO

The IPO is expected to hit the market with a grey market premium of Rs 35, indicating a potential listing price of Rs 238 per share,

which reflects a 17% premium.

Allocation of Funds

New equity shares worth Rs 325 crore will be issued, with promoter Krishna Lalit Bansal also offering the sale of 45.82 lakh equity shares worth Rs 93 crore.

The proceeds from the share sale will be allocated as follows:

  • Rs 175 crore for debt repayment
  • Rs 75 crore for working capital needs
  • Rs 75 crore for general corporate purposes

About DEE Development Engineers Limited

DEE Development Engineers is an engineering company specializing in providing process piping solutions for industries such as oil & gas, power (including nuclear), chemical, and other processing sectors.

Their services encompass engineering, procurement, and manufacturing of specialized piping solutions.

Managing the IPO

SBI Capital Markets and Equirus Capital are the book running lead managers for the DEE Piping Systems IPO, with Link Intime India serving as the registrar for the issue.

The company’s shares are expected to be listed on both the BSE and NSE on Wednesday, June 26.

Share Allocation

DEE Development Engineers Limited has reserved shares worth Rs 1 crore for eligible employees, offering them a discounted price of Rs 19 per share.

The allocation for different investor categories is as follows:

  • 50% of the issue for qualified institutional bidders (QIBs)
  • 15% for non-institutional investors
  • Remaining 35% for retail investors.
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

More Articles

- Advertisemet -