Dee Development Engineers IPO opens for subscription: Should you bid?
The net proceeds from the fresh issue will be used towards funding working capital requirements, debt repayment, and other general corporate purposes.
Dee Development Engineers IPO subscription
Analysts advised investors to subscribe to the issue as the company emerged as the largest player in process piping solutions in India, in terms of installed capacity. Further, the issue is available at a reasonable valuation considering the future growth potential.
«This issue is available at P/E of 83x as of March 2023. If we annualise the FY24 EPS annualised P/E stands at 56x, which appears fairly priced as compared to peers. We recommend Subscribing to the IPO with a long-term view,» said Canara Bank Securities.
Dee Development Engineers IPO price band
The IPO is priced in the range of Rs 193-203 per share, where investors can bid for 73 shares in one lot and multiples thereafter. At the upper end, the company plans to raise Rs 418 crore through the IPO.
Dee Development Engineers is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing.
Other Details
The company 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 successfully expand the business.
It also makes and supplies piping products such as high-pressure piping
