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DEE Development Engineers Limited IPO – Upcoming IPO in India June 2024

Published : June 17, 2024

DEE Development Engineers Limited IPO

DEE Development Engineers Limited IPO (DEE Piping Systems IPO)

Founded in 1988, DEE Development Engineers Limited specializes in providing advanced process piping solutions for various industries, including oil and gas, power (with a focus on nuclear), chemicals, and other process sectors. Their services encompass engineering, procurement, and manufacturing.

The company manufactures and supplies an array of 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 like boiler superheater coils, de-superheaters, and other customized components.

DEE Development Engineers Limited operates seven manufacturing facilities: three in Palwal, Haryana; one in Anjar, Gujarat; one in Barmer, Rajasthan; one in Numaligarh, Assam; and one in Bangkok, Thailand.

As of the nine months ending December 31, 2023, the cumulative installed capacity of these facilities was 70,875 MT. The annual capacities were 94,500 MT for Fiscal 2023, 91,500 MT for Fiscal 2022, and 86,500 MT for Fiscal 2021.

Recently, the company has ventured into a new business vertical at Palwal Facility III, focusing on the design, engineering, fabrication, and manufacturing of pilot plants.

As of March 31, 2024, DEE Development Engineers Limited has a workforce of 1,061 employees. This includes 54 highly skilled welders with certifications such as CSWIP 3.0 and 3.1, AWS-CWI, and CWV, along with 53 employees proficient in non-destructive examination, holding NDE level II qualifications per ASNT/SNT-TC-1A and NDE Level III qualifications per BS EN ISO 9712.

DEE Development Engineers Limited IPO Details

The DEE Piping Systems IPO is a book-built issue totaling Rs 418.01 crores. This IPO comprises a fresh issue of 1.6 crore shares amounting to Rs 325.00 crores and an offer for sale of 0.46 crore shares totaling Rs 93.01 crores.

The subscription for DEE Piping Systems IPO will be open from June 19, 2024, to June 21, 2024. The allotment is expected to be finalized on Monday, June 24, 2024, with the shares tentatively listing on BSE and NSE on Wednesday, June 26, 2024.

The IPO price range is set between ₹193 and ₹203 per share. The minimum lot size for retail investors is 73 shares, requiring a minimum investment of ₹14,819. For small Non-Institutional Investors (sNII), the minimum investment is 14 lots (1,022 shares) totaling ₹207,466. For large Non-Institutional Investors (bNII), the minimum investment is 68 lots (4,964 shares) amounting to ₹1,007,692.

SBI Capital Markets Limited and Equirus Capital Private Limited are the book running lead managers for this IPO, while Link Intime India Private Ltd is acting as the registrar.

For detailed information, refer to the DEE Piping Systems IPO Red Herring Prospectus (RHP).

DEE Development Engineers Limited IPO Objective

The company plans to utilize the net proceeds from the fresh issue of the DEE Piping Systems IPO for the following purposes:

  1. Funding working capital requirements of the company: A portion of the proceeds will be allocated to meet the company’s ongoing operational expenses and support its day-to-day activities.
  2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company: Some of the proceeds will be used to reduce the company’s debt by prepaying or repaying existing loans, which will help improve the financial health and reduce interest expenses.
  3. General corporate purposes: The remaining funds will be used for various corporate needs, such as business development, capital expenditures, and other strategic initiatives.

DEE Development Engineers Limited IPO

Open and Close Date of DEE Piping Systems IPO

The subscription for the IPO will be open from 19th June and will close on 21st June, 2024.

IPO Open Date19th June 2024
IPO Close Date21st June, 2024
Open and Close Date of DEE Piping Systems IPO

DEE Piping Systems IPO share price

The price band for the DEE Piping Systems IPO has been set at ₹193 to ₹203 per share.

IPO Price Band₹193 to ₹203 per share
DEE Piping Systems IPO share price

DEE Piping Systems IPO Issue Type, Face Value, IPO Price, Market Lot, Listing, Total Issue Size

Issue TypeBook Built Issue IPO
Face Value₹10 per share
Market Lot73 Shares
Listing AtBSE, NSE
Total Issue Size20,591,852 shares
(aggregating up to ₹418.01 Cr)
DEE Piping Systems IPO Issue Type, Face Value, IPO Price, Market Lot, Listing, Total Issue Size

DEE Development Engineers Limited IPO Promoter Holding

The promoters of DEE Piping Systems are Krishan Lalit Bansal, Ashima Bansal, and DDE Piping Components Private Limited.

Share Holding Pre Issue100.00%
Share Holding Post Issue
DEE Development Engineers Limited IPO Promoter Holding

DEE Development Engineers Limited’ Financial Information (Reiterated)

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,171.01966.26845.40835.88
Revenue557.86614.32470.84513.03
Profit After Tax14.3412.978.2014.21
Net Worth428.19413.70401.37448.50
Reserves and Surplus380.23408.17395.85432.81
Total Borrowing407.14352.62285.36257.17
DEE Development Engineers Limited’ Financial Information (Reiterated) (Amount in ₹ Crore)

DEE Development Engineers Limited IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: dde.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Contact Information

DEE Development Engineers Limited
Unit 1, Prithla-Tatarpur Road,
Village Tatarpur,
Dist. Palwal, Faridabad- 121102,
Phone: +91 1275 248345
Email: secretarial@deepiping.com
Website: https://www.deepiping.com/

DEE Development Engineers Limited IPO Prospectus

DEE Piping Systems IPO DRHP

DEE Piping Systems IPO RHP


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