The IPO for DEE Development Engineers Commences Today
DEE IPO |
DEE Development Engineers plans to raise Rs 418.01 crore through its Initial Public Offering (IPO), including a new issuance of shares valued at Rs 325 crore and an Offer for Sale (OFS) of up to 45,82,000 shares. (https://www.deepiping.com/)
Market observers report that shares of the engineering firm
are currently trading at a premium of ₹49 in the grey market today.
The initial public offering (IPO) of Dee
Development Engineers Limited began today and will remain open for bidding
until June 21, 2024, allowing for subscriptions from Wednesday to Friday this
week. The company has set the IPO price band at ₹193 to ₹203 per equity share.
This book-built issue is slated for listing on both the BSE and NSE. The
mainboard issue comprises a mix of fresh shares and Offers for Sale (OFS).
Prior to the opening of subscriptions, Dee Development Engineers' shares are
already trading in the grey market. +
Dee Development Engineers IPO Subscription
Status:
By 10:36 AM on the first day of bidding, the
public issue had been subscribed 0.24 times. The retail portion was subscribed
0.34 times, and the Non-Institutional Investor (NII) portion was subscribed
0.29 times.
Top Dee Development Engineers IPO Details
- Dee Development Engineers IPO GMP: According
to market observers, shares of the engineering company are available at a
premium of ₹49 in the grey market today.
- Dee Development Engineers IPO Price Band: The
company has set the price band for the book build issue at ₹193 to ₹203 per
share.
- Dee Development Engineers IPO Date: The public
issue opened today and will remain open until June 21, 2024.
- Dee Development Engineers IPO Size: The
company aims to raise ₹418.01 crore from its public offer, with ₹325 crore
through fresh shares and ₹93.01 crore via the OFS route.
- Dee Development Engineers IPO Lot Size: A
bidder can apply in lots, with each lot comprising 73 company shares.
- Dee Development Engineers IPO Allotment Date:
The finalization of share allocation is expected on Monday, June 24, 2024.
- Dee Development Engineers IPO Registrar: Link
Intime India Private Limited has been appointed as the official registrar for
the book build issue.
- Dee Development Engineers IPO Investment
Limit: A bidder can apply in lots of 73 shares, requiring a minimum investment
of ₹14,819.
- Dee Development Engineers IPO Listing: The
issue is proposed for listing on the BSE and NSE, with a tentative listing date
of June 26, 2024.
Dee Development Engineers IPO: Apply or Not?
Dee Development Engineers IPO Review:
- Prathamesh Masdekar, Research Analyst at StoxBox: "The company's revenue has grown at a CAGR of 10% between FY21-23. The company has initiated capacity expansion plans, which will help improve its future financial performance. Additionally, the company is reducing debt to deleverage its balance sheet. The company's financial performance is expected to benefit from its robust balance sheet, strong customer relationships, capacity expansion, higher entry barriers, and a competent management team. The issue is valued at a P/E of 56.4x on the upper price band based on FY24 earnings, which we believe is fair given the growth prospects and customer loyalty. Therefore, we recommend a 'SUBSCRIBE' rating for the issue."
- Marwadi Shares and Finance: "Considering the FY-23 / FY24-Annualized EPS of ₹1.88/2.77 on a post-issue basis, the company is expected to list at a P/E of 108.06x/73.33x with a market cap of ₹14,017 million. In comparison, its peer ISGEC Heavy Engineering Ltd is trading at a P/E of 37.8x. We assign a 'Subscribe' rating to this IPO as the company is the largest player in process piping solutions in India in terms of installed capacity. It provides specialized process piping solutions with strategically located state-of-the-art manufacturing facilities and significant barriers to entry. The valuation is reasonable considering the company's future growth potential."
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Nanakathalu. We advise investors to check with certified experts before making any investment decisions.