About DEE Development Engineers Limited
DEE Development Engineers Limited, an engineering firm founded in 1988, offers specialized process piping solutions through designing, procurement, and manufacture for the oil and gas, chemicals, electricity (including nuclear), and other process sectors.
In addition, the company produces and distributes industrial pipe fittings, pressure vessels, modular skids, high frequency induction pipe bends, high pressure piping systems, piping spools, longitudinally submerged arc welding pipes, and accessories. Boiler superheater coils, de-superheaters, and other specially made parts are examples of these accessories.
Three of the company’s seven manufacturing sites are in Palwal, Haryana; the other five are in Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand.
For the nine months that concluded on December 31, 2023, the company’s manufacturing facilities had an installed capacity of 70,875 MT. For the corresponding fiscal years 2023, 2022, and 2021, the corresponding annual capacities were 94,500 MT, 91,500 MT, and 86,500 MT.
Palwal Facility III is the location of the company’s latest business vertical expansion, which involves the design, engineering, construction, and production of pilot plants.
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.
About IPO Issue :
DEE Piping Systems IPO is a book built issue of Rs 418.01 crores. The issue is a combination of fresh issue of 1.6 crore shares aggregating to Rs 325.00 crores and offer for sale of 0.46 crore shares aggregating to Rs 93.01 crores.
DEE Piping Systems IPO opens for subscription on June 19, 2024 and closes on June 21, 2024. The allotment for the DEE Piping Systems IPO is expected to be finalized on Monday, June 24, 2024. DEE Piping Systems IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, June 26, 2024.
DEE Piping Systems IPO price band is set at ₹193 to ₹203 per share. The minimum lot size for an application is 73 Shares. The minimum amount of investment required by retail investors is ₹14,819. The minimum lot size investment for sNII is 14 lots (1,022 shares), amounting to ₹207,466, and for bNII, it 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 of the DEE Piping Systems IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to DEE Piping Systems IPO RHP for detailed information.
DEE Piping Systems IPO Details
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | [Wednesday, June 26, 2024] |
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹203 per share |
| Lot Size | 73 Shares |
| Total Issue Size | 20,591,852 shares (aggregating up to ₹418.01 Cr) |
| Fresh Issue | 16,009,852 shares (aggregating up to ₹325.00 Cr) |
| Offer for Sale | 4,582,000 shares of ₹10 (aggregating up to ₹93.01 Cr) |
| Employee Discount | Rs 19 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 53,039,140 |
| Share holding post issue | 69,048,992 |
DEE Piping Systems IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
DEE Piping Systems IPO Timeline (Tentative Schedule)
DEE Piping Systems IPO opens on June 19, 2024, and closes on June 21, 2024.
| IPO Open Date | Wednesday, June 19, 2024 |
| IPO Close Date | Friday, June 21, 2024 |
| Basis of Allotment | Monday, June 24, 2024 |
| Initiation of Refunds | Tuesday, June 25, 2024 |
| Credit of Shares to Demat | Tuesday, June 25, 2024 |
| Listing Date | Wednesday, June 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 21, 2024 |
DEE Limited Financial Information ( Consolidated)
DEE Development Engineers Limited’s revenue increased by 30.47% and profit after tax (PAT) rose by 58.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,171.01 | 966.26 | 845.40 | 835.88 |
| Revenue | 557.86 | 614.32 | 470.84 | 513.03 |
| Profit After Tax | 14.34 | 12.97 | 8.20 | 14.21 |
| Net Worth | 428.19 | 413.70 | 401.37 | 448.50 |
| Reserves and Surplus | 380.23 | 408.17 | 395.85 | 432.81 |
| Total Borrowing | 407.14 | 352.62 | 285.36 | 257.17 |
| KPI | Values |
|---|---|
| ROCE | 3.91% |
| Debt/Equity | 0.85 |
| RoNW | 3.35% |
| P/BV | 2.46 |
| PAT Margin (%) | 2.63 |
DEE Development Engineers Limited Contact Details
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 Piping Systems IPO FAQs
Can I apply in DEE Piping Systems IPO through Zerodha , Upstox?
Zerodha customers can apply online in DEE Piping Systems IPO using UPI as a payment gateway. Zerodha customers can apply in DEE Piping Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in DEE Piping Systems IPO through Zerodha
- Visit the Zerodha website / Upstox and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘DEE Piping Systems IPO’ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
The DEE Piping Systems IPO opens on June 19, 2024 and closes on June 21, 2024.
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