Dee Development Engineers is set to finalize its share allotment on Monday after a strong response to its IPO, which was oversubscribed nearly 100 times. Both non-institutional and institutional buyers showed significant interest in the offering. Investors can check the status of their share allotment on the BSE website or through the registrar, Link Intime India.
How to Check Allotment Status on BSE
- Visit the BSE Website
- Select the issue name (Dee Development Engineers) from the dropdown.
- Enter your application number or PAN number to check the allotment status.
How to Check Allotment Status on Link Intime India
- Visit the Link Intime India website
- Select Dee Development Engineers IPO.
- Enter your PAN details and click search to see the status.
GMP and Listing Date
In the unlisted market, Dee Development Engineers shares are trading at a premium of Rs 95, compared to the IPO price of Rs 203. This suggests a 47% gain on the listing day, which is scheduled for June 26.
Use of IPO Proceeds
The funds raised from the IPO will be used for:
- Working capital requirements
- Repayment of debt
- General corporate purposes
Company Overview
Dee Development Engineers specializes in providing process piping solutions for various industries, including oil and gas, power (nuclear included), chemicals, and other process industries. The company has over 35 years of manufacturing experience and operates strategically located manufacturing facilities.
Products and Services
The company manufactures and supplies a wide range of 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
- Accessories like boiler superheater coils and de-super heaters
Financial Performance
For the nine months ending December 2023, Dee Development Engineers reported:
- Revenue from operations: Rs 545 crore
- Profit after tax: Rs 14.3 crore
For the fiscal year 2023:
- Revenue from operations increased by 29% to Rs 595 crore
- Profit after tax increased by 57% to Rs 12.9 crore
SBI Capital Markets and Equirus Capital are the lead managers for the issue.
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