DEE Development Engineers Ltd IPO
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DEE Development Engineers Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 205.92 L | ₹ 45.82 L | ₹ 71.9 L | ₹ 515.71 L | BSE | ₹ 418.01 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 19 Jun, 24 | 21 Jun, 24 | 73 | ₹ 14,089 | Book Building | 26 Jun, 24 |
DEE Development Engineers Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Steel - Medium |
| Sub Sector | Small |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 82.62x | 10271295 | 848563972 |
| NII | 149.79x | 3081389 | 461568123 |
| Retail | 24.36x | 7189907 | 175178830 |
| Employee | 52.19x | 49261 | 2570768 |
| Total | 72.26x | 20591852 | 1487881693 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
DEE Development Engineers Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 788.76 | 595.50 | 460.92 |
| EBITDA | 88.22 | 73.99 | 59.81 |
| PAT | 19.82 | 18.59 | 12.31 |
| Total Assets | 609.13 | 477.85 | 410.37 |
| Share Capital | 53.04 | 10.61 | 10.61 |
| Total Borrowings | 438.75 | 328.91 | 239.79 |
| Operating Activities (Net Cash) | 50.88 | 42.81 | 34.46 |
| Investing Activities (Net Cash) | 4.64 | 65.61 | 63.94 |
| Financing Activities (Net Cash) | 438.75 | 328.91 | 239.79 |
| Net Cashflow | 32.31 | 31.23 | 25.02 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About DEE Development Engineers Ltd
DEE Development Engineers Limited was originally incorporated as DEE Development Engineers Private Limited a private limited company under the Companies Act, 1956 through a certificate of incorporation dated March 21, 1988, issued by the RoC. Thereafter, the name of the Company was changed to DEE Development Engineers Private Limited pursuant to a Board resolution dated September 28, 1997 and a special resolution passed in the general meeting of the Shareholders held on October 22, 1997 and consequently a fresh certificate of incorporation dated January 8, 1998 was issued by the RoC to reflect the change in name. Pursuant to an amendment to the Companies Act, 1956, the Company was deemed public under Section 43A (1A) of the Companies Act, 1956 with effect from July 1, 1998. Consequently, the word Private was deleted from the name of the Company and the name was changed to DEE Development Engineers Limited pursuant to a Board resolution dated June 1, 1998. Thereafter, the Company was converted into a private limited company pursuant to an amendment to Section 43A (1A) in Companies Act, 1956 by Section 43A (2A) of the Companies Amendment Act, 2000 with effect from July 16, 2004 and the name was changed to DEE Development Engineers Private Limited pursuant to a Board resolution dated July 16, 2004. The name of the Company was changed to DEE Development Engineers Limited upon conversion to a public limited company pursuant to a Board resolution dated December 29, 2009 and a resolution passed in the extra-ordinary general meeting of the Shareholders held on January 18, 2010 and consequently a fresh certificate of incorporation dated March 11, 2010, was issued by the RoC.
The global market for process piping solutions is expected to reach USD 54.5 billion by the end of this decade, growing by a CAGR of 4.8% during 2023-30 period. The process piping solutions market in India managed to generate an annual turnover of approximately INR 25.4 thousand crores in FY 2023. By FY 2030, the annual turnover in Indian process piping solution market is expected to reach INR 38.4 thousand crores, increasing by a CAGR of nearly 6.1% between FY 2023 and FY 2030. The demand for process piping solution is directly tied to the capital expenditure pattern in industrial segment.
Dee Development Engineers Limited 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. 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 its business. The Company also manufactures and supplies 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.
Peer Comparison:
- ISGEC Heavy Engineering Ltd
DEE Development Engineers Ltd IPO Key Points
Strengths
- Leading player in an industry with significant barriers to entry.
- Largest player in process piping solutions in India, in terms of installed capacity, 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 making it a comprehensive solution provider for its diversified customers spread across geographies and sectors.
- Strong focus on automation and process excellence with an experienced engineering team to drive operational efficiencies.
Risk
- The company is measured against high quality standards and stringent performance requirements by its customers. Any failure by it to comply with these standards or performance requirements may lead to the cancellation of existing and future orders, recalls, liquidated damages, invocation of performance bank guarantees or warranty and indemnity or liability claims, which could adversely affect its reputation, business, results from operations, financial conditions and cash flows.
- Its business is dependent and will continue to depend on the company manufacturing facilities, and the company is subject to certain risks in its manufacturing process due to the usage of heavy machinery in its manufacturing operations. Any slowdown or shutdown in its manufacturing operations or strikes, work stoppages or increased wage demands by its employees could interfere with our operations, and could have an adverse effect on its business, cash flows, financial condition and results of operations.
- Majority of the Net Proceeds will be utilized for the repayment or prepayment of indebtedness availed of by the Company.
Strategy
- Leverage its market leading position in the industry to capitalize on the revival of capital expenditure cycle in the sectors which the company services which will drive the next phase of its growth.
- Drive automation across its facilities and processes to bring in operational efficiencies.
- Forging technology tie-ups with select global OEMs to derive consistent order flow and making it a preferred partner.
- Increasing its 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 its pilot plant offerings in the near-future.
- Leading player in an industry with significant barriers to entry.
- Largest player in process piping solutions in India, in terms of installed capacity, 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 making it a comprehensive solution provider for its diversified customers spread across geographies and sectors.
- Strong focus on automation and process excellence with an experienced engineering team to drive operational efficiencies.
How To Apply for DEE Development Engineers Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.