The DEE Development Engineers IPO has garnered significant interest from investors. On the final day of bidding the DEE IPO was oversubscribed 99.56 times. The DEE IPO allotment status is set to be finalised later today.
If you applied for the IPO, here is how you can check the DEE Development IPO allotment status.
Checking Allotment Status on Registrar's Website:
Follow these steps to check the DEE IPO allotment status
- Visit the registrar's website.
- Click on "Company Selection" and choose "DEE Development" from the dropdown menu.
- Then you can enter your PAN, application number, or Demat.
- Click Submit to retrieve the DEE Development IPO allotment status
Checking IPO Allotment Status on BSE:
- Go to the BSE website.
- Click on the ‘Equity' section and select "DEE Development" from the dropdown menu.
- Enter your application number or PAN.
- Click on the ‘Search' button.
- The result will show the number of shares allotted to you.
If all the details are entered correctly and the allotment has been finalised, the DEE IPO allotment status will be visible.
DEE Development IPO Subscription Status
On the third and last day of the bidding process, the DEE IPO saw a subscription of 23.42 times in the retail category, 201.91 times in the Qualified Institutional Buyers (QIB) category, and 144 times in the Non-Institutional Investors (NII) category. The public issue had received bids for 148.78 crore equity shares against the 1.49 crore shares available.
DEE Development IPO GMP
The DEE IPO’s GMP is currently reported at ₹91. With the IPO's price band set at ₹203, the expected listing price is ₹294, indicating a potential gain of approximately 44% on the listing. However, it's crucial to remember that while GMPs can offer some insight into market sentiment, they are not always a reliable predictor of a stock's performance upon listing.
DEE Development IPO Details
The DEE IPO, which opened on June 19, looked to raise ₹418.01 crore. This amount includes a fresh issue of 1.6 crore equity shares totalling ₹325 crore and an offer for sale (OFS) of 46 lakh shares amounting to ₹93.01 crore. The price band for the IPO has been set between ₹193 and ₹203 per share, with a lot size of 73 shares.
The proceeds from the IPO will be used to meet working capital requirements, prepay or repay part of certain outstanding borrowings, and for general corporate purposes.
Founded in 1988, DEE Development Engineers offers specialised process piping solutions for various industries, including oil and gas, power (including nuclear), chemicals, and other process sectors. The company's product portfolio includes high-pressure piping systems, piping spools, high-frequency induction pipe bends, longitudinally submerged arc welding pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids, and related accessories such as boiler superheater coils and de-superheaters.
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