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DEE Development Engineers Limited IPO was Subscribed 4.27x on Day 2

21 June 20242 mins read by Angel One
On the 2nd day of subscription, i.e., June 20, 2024, DEE Piping Systems IPO was subscribed 4.27x. QIBs subscribed 0.10x, NIIs 9.37x, and retail investors subscribed 4.41x
DEE Development Engineers Limited IPO was Subscribed 4.27x on Day 2
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

DEE Development Engineers Limited IPO (DEE Piping Systems IPO) has witnessed an increased interest from investors. DEE Piping Systems IPO offers 2,05,42,591 shares. 41,08,518 (20.00%) to QIB, 30,81,389 (15.00%) to NII, 71,89,907 (35.00%) to RII and 61,62,777 (30.00%) to Anchor investors. 98,491 RIIs will receive a minimum of 73 shares, and 1,005 (sNII) and 2,010 (bNII) will receive a minimum of 1,022 shares.

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.

Day Wise Subscription

On the 2nd day of subscription, i.e., June 20, 2024, DEE Piping Systems IPO was subscribed to 4.27x. QIBs subscribed 0.10x, NIIs 9.37x, and retail investors subscribed 4.41x

Grey Market Premium

The last GMP for DEE Development Engineers IPO is ₹98. With a price band of ₹203.00, the estimated listing price is ₹301 (cap price + today’s GMP). The expected percentage gain/loss per share is 48.28%.

About DEE Development Engineers Limited

Dee Development Engineers Ltd. (DDEL) is an engineering company providing specialised process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing. It has manufacturing experience of over three and a half decades and has been able to leverage its brand, strategically located manufacturing facilities and engineering capabilities to expand business successfully.

The Company is currently ranked as one of the leading process pipe solution providers in the world in terms of its technical capability to address complex process piping requirements arising from multiple industrial segments. In terms of installed capacity, it is the largest player in process piping solutions in India

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