DEE Development Engineers IPO booked 94% so far on Day 1; retail, NII fully subscribed. Check GMP, subscription status
Also Read: Dee Development Engineers IPO: GMP, review, subscription status, other details. Apply or not?The engineering company, Dee Development IPO price band has been fixed in the range of ₹193 to ₹203 per equity share of the face value of ₹10.
The subscription period will end on Friday, June 21. Bids can be made for a minimum of 73 equity shares and in multiples of 73 equity shares thereafter.Dee Development IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
A discount of ₹19 per equity share is being offered to eligible employees bidding in the employee reservation portion.DEE Development Engineers said on Tuesday, June 18, that it had raised more than ₹125 crore from anchor investors.Dee Development Engineers is an engineering business that specialises in engineering, procurement, and manufacturing of process pipes for industries such as oil and gas, power (including nuclear), chemicals, and others. With over three and a half decades of manufacturing experience, the company has efficiently grown its business by using its brand, strategically located production facilities, and engineering capabilities.Also Read: DEE Development Engineers IPO: Engineering firm raises ₹125 crore from anchor investors ahead of public issueDee Development IPO, which is worth ₹418 crore, comprises a fresh issue of ₹325 crore, and an offer-for-sale (OFS) of 4,582,000 equity shares by the promoter Krishan Lalit Bansal.The company's promoters are Krishan Lalit Bansal, Ashima Bansal, and DDE Piping Components Private Limited.The firm intends to
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