DEE Development and Akme Fintrade IPO Opens Soon: Retail Investors Can Bid Until June 21, Minimum Bid Rs. 14,819
Tomorrow, on June 19th, two initial public offerings (IPOs) will open for listing on the stock market. DEE Development Engineers Limited and Akme Fintrade India Limited are both set to launch their IPOs simultaneously. Let’s delve into each of these companies’ IPO details one by one.
DEE Development Engineers Limited IPO Details
DEE Development Engineers Limited plans to raise a total of ₹418.01 crore through its initial public offering (IPO). The company will issue 16,009,852 new shares at ₹325 per share. Additionally, existing shareholders will offer for sale (OFS) ₹93.01 crore worth of shares, totaling 4,582,000 shares.
Retail investors can bid for this IPO from June 19th to June 21st. The company’s shares are scheduled to be listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on June 26th.
Retail Investors Can Bid for a Maximum of 949 Shares in DEE Development Engineers Limited IPO
DEE Development Engineers Limited has set the price band for its issue at ₹193-₹203 per share. Minimum bid lot for retail investors is 73 shares. If bidding at the upper price band of ₹203 per share, an application for 1 lot will require ₹14,819.
At the same time, retail investors can bid for a maximum of 13 lots, equivalent to 949 shares. For this, they will need to bid ₹192,647 based on the upper price band.
DEE Development Engineers’ Grey Market Premium
Before the IPO opened, DEE Development Engineers‘ shares traded in the grey market at a premium of 24.63%, equating to ₹50 per share. With the IPO price band set at ₹203, speculation suggests its listing could reach ₹253 per share.
This anticipated listing price significantly exceeds the grey market price, indicating strong investor expectations and potential for substantial initial gains upon listing.
DEE Development Engineers Limited: Engineering Excellence Since 1988
DEE Development Engineers Limited is an engineering company established in 1988. The company specializes in providing distinct process piping solutions through engineering acquisition and production for industries such as oil and gas, power, chemicals, and others.
DEE operates seven manufacturing facilities across Haryana, Gujarat, Rajasthan, Bangladesh, and Thailand.
Akme Fintrade India Limited IPO Details
Akme Fintrade India Limited aims to raise a total of ₹132 crore through its initial public offering (IPO). The company will issue 11,000,000 new shares for this purpose. Notably, the current shareholders of the company are not offering any shares for sale (OFS).
Retail investors can bid for this IPO from June 19th to June 21st. The company’s shares are scheduled to be listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on June 26th.
Retail Investors Can Bid for a Maximum of 1625 Shares in Akme Fintrade India Limited IPO
Akme Fintrade India Limited has set the price band for this issue at ₹114-₹120 per share. The minimum bid lot for retail investors is 125 shares. Therefore, if bidding at the upper price band of ₹120 per share, an application for 1 lot will require ₹15,000.
For those bidding at the maximum of 13 lots, which is 1625 shares, they will need to bid ₹195,000 based on the upper price band.
Akme Fintrade India’s Grey Market Premium Stands at 27%
Ahead of its IPO, shares of Akme Fintrade India were trading in the grey market with a premium of 27%, translating to ₹33 per share. Considering the IPO price band of ₹120, it is anticipated that its listing could reach ₹153 per share.
This suggests that the expected listing price significantly exceeds the grey market price.
What is an IPO?
When a company issues its shares to the general public for the first time, it is called an Initial Public Offering (IPO). Companies typically need funds to expand their business, and instead of borrowing from the market, they sell a portion of ownership (shares) to investors by either selling existing shares or issuing new ones. This process allows the company to raise capital directly from the market.
