Mumbai6 hours ago
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Initial Public Offer i.e. IPO of DEE Development Engineers Limited will open for public subscription next week. Retail investors can bid for this IPO from June 19 to June 21. The company intends to raise a total of ₹ 418.01 crore through this issue. For this, the company will issue 16,009,852 new shares worth ₹325 crore. At the same time existing investors of the company will sell 4,582,000 shares worth ₹93.01 crore through Offer for Sale i.e. OFS.
If you are also thinking of investing in this IPO, we are telling you how much you can invest in it.
What is the minimum and maximum amount retail investors can invest?
For this IPO the retail investor has to apply for at least one lot i.e. 73 shares. The company has set an IPO price band of ₹193-₹203 per share. If you apply for 1 lot as per IPO upper price band of ₹203, you have to invest ₹14,819. Retail investors can bid for a maximum of 13 lots i.e. 949 shares, for which they have to invest ₹192,647.
You can get 20.2% return on investment
Before the IPO opened, the company’s shares rose to a premium of 20.2%, or ₹41 per share, in the gray market. In such a scenario, according to the upper price band of ₹203, it may list at ₹244.
35% of the issue reserved for retail investors
DEE Development Engineers Limited has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, around 35% shares are reserved for retail investors and the remaining 15% shares are reserved for non-institutional investors (NIIs).
DEE Development Engineers was established in 1988
DEE Development Engineers Limited is an engineering company, established in 1988. The company provides specialized process piping solutions to the oil and gas, power, chemical and other industries through engineering, procurement and manufacturing. The company has 7 manufacturing facilities in Haryana, Gujarat, Rajasthan, Bangkok and Thailand.
