IPO

DEE Development Engineers Limited IPO

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Industrial Products

Listed On: Jun 26, 2024 at ₹ 339.0(NSE)

₹ 14819 /73 Shares

Check Allotment

19 Jun, 2024

Open Date

21 Jun, 2024

Close Date

24 Jun, 2024

Allotment Date

26 Jun, 2024

Listing Date
Price Summary

Last Closing

215.10 (5.96%)

52 Week High

354.00

52 Week Low

167.00

Last Update

17-Dec-2025 3:30 PM
DEE Development Engineers Limited IPO Issue Details
  • Issue Price ₹193-203 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 2,05,91,852 shares(aggregating up to ₹418.01 crore)
  • Fresh Share 1,60,09,852 shares(aggregating up to ₹325 crore)
  • Offer For Sale 45,82,000 shares(aggregating up to ₹93.01 crore)
  • Listing at BSE, NSE
  • List Price 339.0(NSE)
  • Listing Date 2024-06-26
  • Lead Manager SBI Capital Markets Limited
    Equirus Capital Private Limited
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 73 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 73 ₹14,819
Retail(max) 13 949 ₹1,92,647
DEE Development Engineers Limited IPO Reservation

DEE Development Engineers Limited IPO offers total 20,542,591 shares. Out of which 4,108,518 (20%) allocated to QIB, 3,081,389 (15%) allocated to NII,7,189,907 (35%) allocated to RII, NA (NA%) allocated to employees and 6,162,777 (30%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 6,162,777 (30%)
QIB Shares Offered 4,108,518 (20%)
NII (HNI) Shares Offered 3,081,389 (15%)
bNII > ₹10L 2,054,260 (10%)
sNII < ₹10L 1,027,129 (5%)
Retail Shares Offered 7,189,907 (35%)
Total Shares Offered 20,542,591 (100%)
DEE Development Engineers Limited IPO Documents
DRHP
RHP
ANCHOR
DEE Development Engineers Limited IPO Details


DEE Development Engineers Limited IPO is a book-built issue of ₹418.01 crores, The total issue size is ₹418.01 crores. The IPO of DEE Development Engineers Limited is priced at ₹193-203 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Jun 19, 2024 and ends on Jun 21, 2024. The allotment for DEE Development Engineers Limited IPO will be finalized on Jun 24, 2024. DEE Development Engineers Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Jun 26, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 73 shares, extendable to 14,819. The book-running lead manager for the IPO is/are SBI Capital Markets Limited, Equirus Capital Private Limited.

The total issue ₹418.01 crore, comprising a fresh issue of 1,60,09,852 shares ₹325 crore and having Offer for Sale (OFS) of 45,82,000 shares to mop up ₹93.01 crore.

The DEE Development Engineers Limited IPO sets its price band at 193-203 for each share. A single application for DEE Development Engineers Limited IPO must contain at least 73 shares. Sentiment investors need to invest a minimum of 73 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,819

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DEE Development Engineers Limited IPO Subscription Analysis And Details
Retail
21.27x
QIB
201.91x
NII
142.26x
bNII
159.30x
sNII
108.18x
Total
98.09x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 4,108,518 3,081,389
2,054,260    1,027,129 		3,657,500 14,379,814
Day 1 19-06-24 05:00 PM
0.02 x 5.29
5.15 x   5.57 x 		2.68 x 2.51 x
Day 2 20-06-24 05:00 PM
0.16 x 21.73
21.29 x   22.62 x 		8.43 x 9.00 x
Day 3 21-06-24 05:00 PM
201.91 x 142.26
159.30 x   108.18 x 		21.27 x 98.09 x
Total No of Applications
19,42,706
DEE Development Engineers Limited Valuations
EPS Pre IPO ₹2.45/-
EPS Post IPO ₹2,77/-
P/E Pre IPO 83
P/E Post IPO 73.33
ROCE 3.91%
Debt/Equity 0.85
RoNW 3.35%
PAT Margin 2.63
Price to Book Value 2.46
DEE Development Engineers Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-21
Assets 966.26 845.40 835.88
Revenue 614.32 470.84 513.03
Profit After Tax 12.97 8.20 14.21
Net Worth 413.70 401.37 448.50
Reserves & Surplus 408.17 395.85 432.81
Total Borrowing 352.62 285.36 257.17
About DEE Development Engineers Limited Company

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, de-superheaters, and other customized manufactured components.

The company has seven manufacturing facilities in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand, with three manufacturing facilities located in Palwal, Haryana.

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 at Palwal Facility III.

As of March 31, 2024, the company has 1,061 employees, including 54 highly skilled welders with certifications like CSWIP 3.0 and 3.1, AWS-CWI, and CWV, and 53 employees are highly skilled in non-destructive examination with certifications like NDE level II qualifications as per ASNT/SNT-TC-1A, and NDE level III qualifications as per BS EN ISO 9712.

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DEE Development Engineers Limited - Promoter(s)

Krishan Lalit Bansal

Ashima Bansal

DDE Piping Components Private Limited

Pre Issue Share Holding : 100%

Post Issue Share Holding : N/A%

DEE Development Engineers Limited IPO - Issue Objectives
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 Development Engineers Limited IPO - Anchor Investors

Dee Development Engineers garners Rs 125 crore from anchor investors.

Citigroup Global Markets Mauritius, Morgan Stanley Asia (Singapore) Pte, Aurigin Master Fund, Pinebridge Global Funds, SBI General Insurance Company, are among the funds who have been allocated shares.

In addition, Kotak Mahindra Mutual Fund, LIC Mutual Fund, HDFC Mutual Fund and Aditya Birla Sun Life Mutual Fund have been allocated shares in the anchor round.

DEE Development Engineers Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
DEE Development Engineers Limited 2.45 2.45 79.87 N/A 3.14 N/A Consolidated
Isgec Heavy Engineering Ltd 26.72 26.72 325.32 42.4 8.59 N/A Consolidated

Notes:

  1. Basic EPS (₹) = Restated profit for the period/year attributable to the equity shareholders of the Company/weighted average number of equity shares outstanding after considering bonus shares which has been issued subsequent to March 31, 2023 for all periods presented in accordance with Ind AS 33.
  2. Diluted EPS (₹) = Restated profit for the period/year attributable to equity shareholders of the Company/weighted average number of equity shares outstanding during the period/year considered for deriving basic earnings per share and the weighted average number of Equity Shares which could have been issued on the conversion of all dilutive potential Equity Shares after considering bonus shares which have been issued subsequent to March 31, 2023 for all periods presented in accordance with Ind AS 33.
  3. Net asset value per Equity Share is the total equity divided by the weighted average numbers of Equity Shares outstanding during the period/year (as adjusted for the effect of bonus shares issued subsequent to March 31, 2023 and used in calculating basic earnings per share in accordance with principles of Ind AS 33).
  4. The company's "RONW" means return on net worth; return on net worth is the restated profit for the year divided by net worth.
  5. Basic EPS is sourced from the audited consolidated financial results of the peer for the year ended March 31, 2023.
  6. Diluted EPS is sourced from the audited consolidated financial results of the peer for the year ended March 31, 2023.
  7. Net asset value per Equity Share is the total equity divided by the weighted average numbers of Equity Shares outstanding during the year (as adjusted for the effect of bonus shares issued subsequent to year-end and used in calculating basic earnings per share).
  8. The P/E Ratio has been computed based on the closing market price of equity shares on BSE on June 10, 2024, divided by the Diluted EPS.
  9. Return on net worth is the restated profit for the year divided by the net worth.
Strength
DEE Development leads with significant industry entry barriers, skilled labour, and complex tech requirements.
Holds a strategic leadership position fueled by longstanding global customer relationships.
Extensive product range, including high-pressure systems and specialised piping solutions.
Strong customer retention evidenced by long-term relationships and robust order books.
Weakness
Non-compliance with stringent customer standards could lead to recalls and claims, affecting financial stability.
Dependence on a few customers, with the top 10 contributing 66.18% of revenue, poses a significant business risk.
Exposure to sectors like oil and gas, with 52.76% revenue dependency, subjects business to market volatility.
Rapid technological changes could outdate products; failure to innovate might result in a loss of competitiveness.
Contact Details

DEE Development Engineers Limited

Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Faridabad- 121102,

+91 1275 248345

secretarial@deepiping.com

https://www.deepiping.com/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

dde.ipo@linkintime.co.in

https://linkintime.co.in/initial_offer/public-issues.html