DEE Development Engineers IPO Launch Next Week: Retail Investors Can Bid from June 19-21
DEE Development Engineers Limited IPO Details
IPO Opening and Subscription Dates
DEE Development Engineers Limited’s Initial Public Offering (IPO) is set to open for public subscription next week. Retail investors can bid for this IPO from June 19 to June 21. The company aims to raise a total of ₹418.01 crore through this issue. This includes issuing 16,009,852 new shares worth ₹325 crore, while existing investors will sell 4,582,000 shares valued at ₹93.01 crore through an Offer for Sale (OFS).
Investment Details for Retail Investors
Retail investors can apply for this IPO with a minimum of one lot, which consists of 73 shares. The price band for the IPO has been set at ₹193-₹203 per share. If you apply for one lot at the upper price band of ₹203, the investment required would be ₹14,819. Retail investors can bid for a maximum of 13 lots, equivalent to 949 shares, which would require an investment of ₹192,647.
Expected Returns on Investment
Prior to the IPO opening, the company’s shares are trading at a 20.2% premium in the grey market, which is ₹41 per share. Based on the upper price band of ₹203, the listing price could be around ₹244 per share. This suggests that investors could potentially see a return of 20.2% on their investment.
DEE Development Engineers Limited has reserved 35% of its shares for retail investors, while 50% of the issue size has been kept unallocated for Qualified Institutional Buyers (QIBs). Additionally, approximately 15% of the shares are reserved for Non-Institutional Investors (NIIs).
Established in 1988, DEE Development Engineers Limited is an engineering company specializing in providing bespoke process piping solutions for industries including oil & gas, power, chemical, and others. The company operates manufacturing facilities in Haryana, Gujarat, Rajasthan, Bangkok, and Thailand.
