DEE Piping Systems, a company that provides specialised piping solutions for industries like oil and gas, power, and chemicals, is raising funds through an IPO. They have seven manufacturing facilities in India and Thailand, along with an engineering centre in Chennai.
IPO Details
- Purpose: To meet working capital needs, repay loans, and for general purposes.
- Price Band: ₹193-203 per share.
- Lot Size: 73 shares.
- Total Value: ₹418.01 crore.
- Fresh Issue: ₹325 crore.
- Offer-for-Sale (OFS): ₹93.01 crore.
GMP (Grey Market Premium)
The latest GMP for DEE Piping Systems IPO is ₹88. Based on the top price band of ₹203, the estimated listing price is ₹291, giving a 43.35% premium.
Subscription Status
The IPO saw strong interest and was fully subscribed on the first day. By the end, it was subscribed 103.03 times overall:
- Retail Investors: 23.66 times.
- Qualified Institutional Buyers (QIBs): 206.54 times.
- Non-Institutional Investors (NIIs): 149.38 times.
Checking Allotment Status
- Allotment Date: Expected to be finalised on Monday, June 24, 2024.
- Credit to Demat Accounts: Shares should be credited on Tuesday, June 25.
- Refunds: Unsuccessful applicants will get refunds on the same day.
Steps to Check Allotment Status
On the Registrar’s Website
- Visit Link Intime.
- Select DEE Piping Systems from the dropdown menu.
- Enter your PAN number or application number.
- Click “Submit”.
On the BSE Website
- Go to BSE Allotment Status.
- Choose ‘Equity’ under the issue type.
- Enter your application number or PAN.
- Complete the CAPTCHA.
- Click “Search”.
Listing Date
Shares are expected to list on BSE and NSE on Wednesday, June 26, 2024.
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