DEE Development Engineers was incorporated on March 21, 1988. It 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.
| Bidding Dates |
|---|
| 19 Jun 2024 - 21 Jun 2024 |
| Subscription |
|---|
| 99.56x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,089 | 1 | 13 | 73 | 20.6 M | ₹193 - ₹203 | 70.18 % | ₹3974.2 M - ₹4180.1 M | RHP DOC |
DEE Development IPO SUBSCRIPTION STATUS
21 Jun '24DEE Development IPO overall subscription rate was 99.56 times the total available shares
DEE Development IPO retail subscription rate was 23.42 times in the retail segment
DEE Development IPO non-institutional investor subscription rate was 144 times in the non-institutional investor category
DEE Development IPO Qualified Institutional Bidder subscription rate was 201.91 times the available shares for Qualified Institutional Bidder
DEE Development IPO Employees subscription rate was 44.73 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
21 Jun 2024 (Day 3) | 23.42x | 144x | 201.91x | 44.73x |
20 Jun 2024 (Day 2) | 8.42x | 21.72x | 0.16x | 18.78x |
19 Jun 2024 (Day 1) | 2.68x | 5.29x | 0.02x | 7.06x |
DEE Development FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 143.4 | 5,455.5 | 697.1 | -191.9 | 12.5% |
| FY23 | 129.7 | 5,955.0 | 139.4 | -418.8 | 11.6% |
| FY22 | 82.0 | 4,609.2 | 671.5 | 433.3 | 14.0% |
| FY21 | 142.1 | 4,952.2 | 955.4 | 799.9 | 10.8% |
DEE Development IPO SUBSCRIPTION STATUS DETAILS
DEE Development had 20.6 M shares on offer
DEE Development IPO offer price was in the range ₹193 - ₹203
DEE Development IPO minimum Investment was ₹14089
DEE Development IPO issue size was ₹ 3974.2 M - ₹ 4180.1 M
DEE Development had a minimum lot size of 73 Shares per application
DEE Development NUMBER OF SHARES ON OFFER
DEE Development IPO IMPORTANT DATES
| Issue Open Date | 19 Jun 2024 |
| Issue close Date | 21 Jun 2024 |
| Allotment Date | 24 Jun 2024 |
| Refund Date | 25 Jun 2024 |
| Demat Account Credit Date | 25 Jun 2024 |
| Listing Date | 26 Jun 2024 |
| Listing on Exchange(s) | NSE and BSE |
| DEE Development Allotment Status | Exchange |
DEE Development IPO subscription opened on 19 Jun 2024, and closed on 21 Jun 2024
IPO allotment for DEE Development was finalized on Monday, 24 Jun 2024
IPO listing for DEE Development was on NSE and BSE on Wednesday, 26 Jun 2024
DEE Development IPO LISTING GAINS
| Issue Price (adjusted) | 203.0 |
| Listing Open Price | 325.0 |
| Listing Close Price | 335.0 |
| Listing Gain% | 60.1% |
| Current Gain% | 210.2% |
DEE Development Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DEE Development Engineers Ltd. | 629.7 | 4348 | 59 | 1.2 | 3.9 | 8.7 | 4 | 1158.6 | 36.6 | 77.4 | 77.3 | 10.7 | 49.7 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
DEE Development INFORMATION ON IPO ISSUE
About DEE Development
DEE Development Engineers was incorporated on March 21, 1988. It 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.
Object 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
- General corporate purposes
DEE Development - PROMOTERS
| Name |
|---|
| Krishan Lalit Bansal |
| Ashima Bansal |
| DDE Piping Components Private Limited |
DEE Development Book Running Lead Manager
SBI Capital Markets Limited
dee.ipo@sbicaps.com
Equirus Capital Private Limited
dee.ipo@equirus.com
DEE Development Registrar to the Offer
Link Intime India Private Limited
dde.ipo@linkintime.co.in
DEE Development Strengths
Leading player
The company's leadership position offers it a competitive advantages such as product pricing, reduced costs due to economies of scale, its ability to scale the business, customer loyalty and increasing client base
Largest player
The company is the largest player in process piping solutions in India, in terms of installed capacity, providing specialized process piping solutions with strategically located state-of-the-art manufacturing facilities
Strong order book
As of 9MFY24, the company had an order book of Rs 828.7 crore, which constituted 139.2% of its revenue from operations for FY23
Specialized product offerings
The company has a wide range of specialized product offerings and services making it a comprehensive solution provider for diversified customers spread across geographies and sectors
DEE Development Risks
Competition
The company faces competition from both domestic as well as international companies and its inability to compete effectively may adversely affect the business, cash flows, results of operations, financial condition and cash flows
Negative cash flows
The company has in the past, and may in the future, experience negative cash flows from investing and financing activities. Any negative cash flows in the future would adversely affect the results of operations, cash flows and financial condition
Negative cashflows
The company has, in the past and may in the future, experience negative cash flows from investing and financing activities. Any future negative cash flows could adversely affect the results of operations
Incurred losses
The company's subsidiaries have incurred losses in the last three fiscals and may do so in the future, which could have a material adverse effect on the business, prospects, financial condition, cash flows and results of operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 93.0 crore, of 4,582,000 shares. It also consists of a fresh issue of Rs 325.0 crore.
The promoters of the company are Krishan Lalit Bansal, Ashima Bansal and DDE Piping Components Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 193.0 - 203.0.
The IPO application opens on Jun 19, 2024 and closes on Jun 21, 2024.
The minimum lot size for the IPO is 73. The maximum lot size for the IPO is 949.
For all category investors, the minimum application amount for this IPO is Rs. 14,089.0, the maximum value for this IPO is Rs 192,647.0.
This IPO will be allotted on Jun 24, 2024.
The refund will be credited to your account on Jun 25, 2024.
The allotted shares will be credited to your demat on Jun 25, 2024.
DEE Development Engineers Ltd.’s shares listed on the stock exchanges on Jun 26, 2024.