Dee Development Engineers IPO opens today
They aim to raise around ₹418 crore from this IPO. Prior to this, they had raised more than ₹125 crore from anchor investors.
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The initial public offering (IPO) of Dee Development Engineers Ltd., a company that provides piping solutions, starts today, June 19, and ends on Friday, June 21.
They aim to raise around ₹418 crore from this IPO. Prior to this, they had raised more than ₹125 crore from anchor investors.
Some of the funds that got shares are Citigroup Global Markets Mauritius, Morgan Stanley Asia (Singapore) Pte, Aurigin Master Fund, Pinebridge Global Funds, and SBI General Insurance Company.
Kotak Mahindra Mutual Fund, LIC Mutual Fund, HDFC Mutual Fund, and Aditya Birla Sun Life Mutual Fund also received shares.
The company's shares have a premium of ₹80 in the unlisted market right now, but this can change quickly.
Dee Development Engineers is selling its shares for ₹193 to ₹203 each. Investors need to buy at least 73 shares in one lot and can buy more in multiples of 73.
The IPO includes new shares worth up to ₹325 crore and shares worth up to ₹93 crore being sold by the promoter, Krishan Lalit Bansal.
Dee Development Engineers provides piping solutions for industries like oil and gas, power (including nuclear), chemicals, and other process industries. They also make piping products.
With six manufacturing facilities in Haryana, Gujarat, Rajasthan, and Thailand, Dee Development is the largest company in process piping solutions in India by installed capacity.
