DEE Development Engineers Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | [.] |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 193 to ₹ 203 per share |
| Lot Size | 73 Shares |
| Total Issue Size | 2,05,91,852 shares (aggregating up to ₹ 418.01 Cr) |
| Fresh Issue | 1,60,09,852 shares (aggregating up to ₹ 325.00 Cr) |
| Offer for Sale | 45,82,000 shares of ₹10 (aggregating up to ₹ 93.01 Cr) |
| Employee Discount | Rs 19 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 5,30,39,140 |
| Share holding post issue | 6,90,48,992 |
About DEE Development Engineers Limited IPO
DEE Development Engineers Limited 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. They have manufacturing experience of over three and a half decades and have been able to leverage their brand, strategically located manufacturing facilities and engineering capabilities to successfully expand their business. As part of their specialized process piping solutions, they also manufacture and supply piping products such as high-pressure piping systems, piping spools, high-frequency induction pipe bends, Longitudinally Submerged Arc Welding pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids and accessories including, boiler superheater coils, desuperheaters and other customized manufactured components.
DEE Piping Systems IPO is a book-built issue of Rs 418.01 crores. The issue is a combination of a fresh issue of 1.6 crore shares aggregating to Rs 325.00 crores and an offer for sale of 0.46 crore shares aggregating to Rs 93.01 crores.DEE Piping Systems IPO opens for subscription on June 19, 2024 and closes on June 21, 2024. The allotment for the DEE Piping Systems IPO is expected to be finalized on Monday, June 24, 2024. DEE Piping Systems IPO will be listed on BSE, NSE with a tentative listing date fixed as Wednesday, June 26, 2024.DEE Piping Systems IPO price band is set at ₹193 to ₹203 per share. The minimum lot size for an application is 73 Shares.SBI Capital Markets Limited and Equirus Capital Private Limited are the book-running lead managers of the DEE Piping Systems IPO, while Link Intime India Private Ltd is the registrar for the issue.
DEE Piping Systems IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
DEE Piping Systems IPO Anchor Investors Details
| Bid Date | June 18, 2024 |
| Shares Offered | 6,162,777 |
| Anchor Portion Size (In Cr.) | 125.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 22, 2024 |
Company & Financials
Founded in 1988, DEE Development Engineers Limited is an engineering company that provides specialized process piping solutions for oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing. The company also manufactures and supplies piping products, including high-pressure piping systems, piping spools, high-frequency induction pipe bends, longitudinally submerged arc welding pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids and accessories. These accessories include boiler superheater coils, desuperheaters and other customized manufactured components. The company's manufacturing facilities had a cumulative installed capacity of 70,875 MT for the nine months ended December 31, 2023, with annual capacities of 94,500 MT, 91,500 MT, and 86,500 MT for Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively. The company recently expanded into a new business vertical, offering design, engineering, fabrication, and manufacturing of pilot plants
Objectives of DEE Piping Systems IPO
- 1. Funding working capital requirements of the Company.
- 2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
- 3. General corporate purposes.
DEE Piping Systems IPO Review
DDEL is one of the niche players in specialized piping solutions globally and enjoys credentials with long-term relationships with renowned customers. It marked steady growth post-pandemic year and is poised for bright prospects ahead if their order book is worth Rs. 828+ cr. as of December 31, 2023, has any indication. Though the issue appears aggressively priced based on its annualized earnings for FY24, it holds long-term promises. Well-informed investors may park funds for the medium to long-term rewards.
DEE Development Engineers Limited IPO Financial Information
Latest Revenue
557.86
₹ Crore
Profit After Tax
14.34
₹ Crore
Net Worth
428.19
₹ Crore
Total Borrowing
407.14
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 1,171.01 | 557.86 | 14.34 | 428.19 | 407.14 | ||||
| 31 Mar 2023 | 966.26 | 614.32 | 12.97 | 413.70 | 352.62 | ||||
| 31 Mar 2022 | 845.40 | 470.84 | 8.20 | 401.37 | 285.36 | ||||
| 31 Mar 2021 | 835.88 | 513.03 | 14.21 | 448.50 | 257.17 | ||||
| Amount in ₹ Crore | |||||||||
DEE Development Engineers Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 3.91% |
| Debt/Equity | 0.85 |
| RoNW | 3.35% |
| PAT Margin (%) | 2.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.45 | 2.77 |
| P/E (x) | 83 | 73.33 |
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Competitive Strengths
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DEE Development Engineers Limited IPO Timeline
| IPO Open Date | Wednesday, June 19, 2024 |
| IPO Close Date | Friday, June 21, 2024 |
| Basis of Allotment | Monday, June 24, 2024 |
| Initiation of Refunds | Tuesday, June 25, 2024 |
| Credit of Shares to Demat | Tuesday, June 25, 2024 |
| Listing Date | Wednesday, June 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 21, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid 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 |