₹ 193 - ₹ 203
19-Jun-2024 - 21-Jun-2024
₹ 14819.00



19-Jun-2024 - 21-Jun-2024

₹ 193 - ₹ 203

Price Band

₹ 14819.00

Minimum Investment


Bid Lot



IPO Details

Fresh Issue aggregating to Rs. 325 Cr and Offer for Sale upto 45,82,000 Equity Shares

Category % Shares/Amount
QIB 50% 10,271,295 Shares Rs.208.51 Cr
HNI 1 5% 1,027,129 Shares Rs.20.85 Cr @ 1005 Form 1X
HNI 2 10% 2,054,260 Shares Rs. 41.70 Cr @ 2010 Form 1X
Retail 35% 7,189,907 Shares Rs.145.96 Cr @ 98492 Form 1X

BRLMs: SBI Capital Markets, Equirus Capital

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
98492 Form 1X 1005 Form 1X 2010 Form 1X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 73 ₹ 14,819
Retail (Upto 2 Lakh) 13 949 ₹ 192,647
S-HNI (2 Lakh to 10 Lakh) 14 1022 ₹ 207,466
S-HNI (2 Lakh to 10 Lakh) 67 4891 ₹ 992,873
B-HNI (Above 10 Lakh) 68 4964 ₹ 1,007,692

IPO Timeline

  • Open Date

  • Close Date

  • Basis of Allotment Date

  • Initiation of Refunds

  • Credit Shares to Demat A/c

  • IPO Listing Date


Subscription as on
21-Jun-2024 08:51

Category Book Size Subscription No. of Times
QIB 4,108,518 ₹ 83.40 Cr. 665,906 ₹ 13.52 Cr. 0.16x
HNI (<10 LAKH) 1,027,129 ₹ 20.85 Cr. 24,813,065 ₹ 503.71 Cr. 24.16x
HNI2 (>10 LAKH) 2,054,260 ₹ 41.70 Cr. 45,488,563 ₹ 923.42 Cr. 22.14x
RETAIL 7,189,907 ₹ 145.96 Cr. 65,280,031 ₹ 1325.18 Cr. 9.08x
Total 14,379,814 136,247,565 9.47x
Category Book Size Subscription No. of Times
QIB 4,108,518 ₹ 83.40 Cr. 665,906 ₹ 13.52 Cr. 0.16x
HNI (<10 LAKH) 1,027,129 ₹ 20.85 Cr. 24,813,065 ₹ 503.71 Cr. 24.16x
HNI2 (>10 LAKH) 2,054,260 ₹ 41.70 Cr. 45,488,563 ₹ 923.42 Cr. 22.14x
RETAIL 7,189,907 ₹ 145.96 Cr. 65,280,031 ₹ 1325.18 Cr. 9.08x
Total 14,379,814 136,247,565 9.47x

*Excluding Anchor

Total No. of Application Approx : ~863975 (8.77 Appwise)

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

About Company

  • The company was incorporated as DE Development Engineers Pvt. Ltd. In 1988. Subsequently the name of the company was changed to ‘DEE Development Engineers Ltd’ in 2010. DEE Development Engineers is an engineering company providing specialized process piping solutions for industries such as oil and gas, power, chemicals and other process industries through engineering, procurement and manufacturing.
  • DEE Development Engineers is ranked as one of the leading process pipe solution providers globally, in terms of technical capability to address complex process piping requirements arising from multiple industrial segments. Currently, the company is the largest player in process piping solutions in India, in terms of installed capacity.
  • The company had an installed capacity of 94,500 MTPA in FY2023 and it has set up the Numaligarh Facility with a capacity of 6,000 MTPA, which began operating on February 25, 2024.
  • The company manufactures and supply piping products such as 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 accessories including, boiler superheater coils, de-super heaters and other customized manufactured components.
  • The company’s 7 manufacturing facilities are located at Palwal in Haryana, Anjar in Gujarat, Barmer in Rajasthan. Numaligarh in Assam and Bangkok in Thailand, with 3 Manufacturing Facilities located at Palwal, Haryana. The company also operates a temporary manufacturing facility in Barmer, Rajasthan which is dedicated to catering to the piping and erection requirements of the HPCL Rajasthan Refinery.
  • The company has recently expanded into a new business vertical of design, engineering, fabrication and manufacturing of pilot plants. The company plans to provide a one-stop solution for the pilot plant requirements of its customers in the oil and gas, petrochemicals, refineries, specialty chemicals, pharmaceuticals and nuclear sectors.
  • The company’s Revenues from Operations have grown to ? 595.50 Cr in FY23 from ? 495.22 Cr in FY21, while the EBITDA margins have improved to 11.62% from 10.84% during the same period. The company reported a PAT of ? 12.97 Cr in FY23 vs. Rs 14.21 CR in FY21. The company’s debt increased to ? 319.83 cr in FY23 from ? 224.68 Cr in FY21. For 9 months ended December ,2023, the company reported Revenues from Operations at ? 545.55 Cr, EBITDA margins of 12.45% and PAT at ? 14.34 Cr. The company’s order book has increased to ? 828.70 Cr as on December 31st, 2023 as against ? 335.68 Cr in FY21.
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Competitive Strength 

  • Leading player in an industry with significant barriers to entry;
  • Largest player in process piping solutions in India, providing specialized process piping solutions with strategically located state-of-the-art Manufacturing Facilities;
  • Long standing customer relationships with a strong order book;
  • Wide range of specialized product offerings and services, diversified customer base across geographies and sectors;
  • Strong focus on automation and process excellence with an experienced engineering team to drive operational efficiencies;
  • Experienced and dedicated promoter and professional management team with extensive domain knowledge.

Business Strategies 

  • Leverage the market leading position in the industry to capitalize on the revival of capex cycle in the sectors;
  • Drive automation across the facilities and processes to bring in operational efficiencies;
  • Forging technology tie-ups with select global OEMs to derive consistent order flow and making us a preferred partner;
  • Increasing focus on high margin products with additional contributions from modular skids and usage of high-grade materials which offers a better margin contribution to profitability;
  • Launch the pilot plant offerings in the near future;
  • Focus on deleveraging and maintaining financial flexibility.

Company Promoters

Krishan Lalit Bansal is the Chairman and Managing Director of the Company. Ashima Bansal is a Whole-time Director of the Company. Shikha Bansal is a Whole-time Director of the Company. Bhisham Kumar Gupta is an Independent Director of the Company. Shilpi Barar is an Independent Director of the Company. Ashwani Kumar Prabhakar is an Independent Director of the Company. Sameer Agarwal is the Chief Financial Officer of the Company. Ranjan Kumar Sarangi is the Company Secretary and Compliance

Company Financials

DEE Development Engineers Limited's revenue increased by 30.47% and profit after tax (PAT) rose by 58.25% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 31 Dec 2023 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 1,171.01 966.26 845.40 835.88
Revenue 557.86 614.32 470.84 513.03
Profit After Tax 14.34 12.97 8.20 14.21
Net Worth 428.19 413.70 401.37 448.50
Reserves and Surplus 380.23 408.17 395.85 432.81
Total Borrowing 407.14 352.62 285.36 257.17
Amount in ? Crore

Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  1. Funding working capital requirements of the Company;
  2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
  3. General corporate purposes

How to Apply

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    Once you create your account, Login to Us.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

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Frequently Asked Questions

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