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 | [.] |
| 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 Piping Systems IPO Lot Size
Investors can bid for a minimum of 73 shares and in multiples thereof. The below 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 | ₹192,647 |
| S-HNI (Min) | 14 | 1,022 | ₹207,466 |
| S-HNI (Max) | 67 | 4,891 | ₹992,873 |
| B-HNI (Min) | 68 | 4,964 | ₹1,007,692 |
| Lot Size Calculator | |||
DEE Piping Systems IPO Promoter Holding
The Promoters of the company are Krishan Lalit Bansal, Ashima Bansal and DDE Piping Components Private Limited.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
About DEE Development Engineers Limited
Founded in 1988, 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.
DEE Development Engineers Limited Financial Information (Restated 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 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of DEE Piping Systems IPO is Rs 1401.69 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROCE | 3.91% |
| Debt/Equity | 0.85 |
| RoNW | 3.35% |
| P/BV | 2.46 |
| PAT Margin (%) | 2.63 |
Check DEE Piping Systems IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.45 | 2.77 |
| P/E (x) | 83 | 73.33 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.
Objects of the Issue (DEE Piping Systems IPO Objectives)
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding working capital requirements of the Company;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
- General corporate purposes
DEE Piping Systems IPO Prospectus
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 Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: dde.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html