DEE Development Engineers IPO: Engineering firm raises ₹125 crore from anchor investors ahead of public issue

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₹125 crore from anchor investors ahead of the launch of its initial public offering (IPO) on Wednesday, June 19.According to the exchange filing, the engineering company allocated 61,62,777 equity shares to anchor investors at the allocation price of ₹203 per share.Also read: Dee Development Engineers IPO: Price band set at ₹193-203 per share; check issue details, key dates, more"The Board of Directors of the Company at their meeting held on Tuesday, June 18, 2024, in consultation with the Book Running Lead Managers to the Offer, has finalized allocation of 61,62,777 Equity Shares, to Anchor Investors at Anchor Investor allocation price of Rs. 203 per Equity Share," the company said.HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, LIC MF Large, SBI General Insurance, Morgan Stanely Asia were among the marquee companies who participated the anchor book round.Out of the allocation of 61,62,777 equity shares to the Anchor Investors, 26,61,210 Equity Shares (i.e.

43.18% of the total allocation to Anchor Investors) were allotted to 4 domestic mutual funds who have applied through a total of 9 schemes.The engineering company will open for subscription on Wednesday, June 19, and close on Friday, June 21. The price band for Dee Development's IPO has been set between ₹193 and ₹203 per equity share, each with a face value of ₹10.The Dee Development IPO, valued at ₹418 crore, includes a fresh issue of ₹325 crore and an offer-for-sale (OFS) of 4,582,000 equity shares by the promoter Krishan Lalit Bansal.Also read: DEE Piping Systems IPO: Price band, latest GMP, lot size among 10 key things to know before issue opensThe company's promoters include Krishan Lalit Bansal, Ashima Bansal, and DDE Piping Components