DEE Development Engineers Ltd. raised Rs 125 crore from anchor investors ahead of its initial public offering. The company allotted 61.6 lakh shares at Rs 203 apiece to 19 anchor investors.
Two funds backed by HDFC Mutual Fund and Kotak Mutual Fund got the highest allocation of 11.99%.
An affiliate of American asset management firm PineBridge Investments secured 10.01% of the allocation. Natixis Investment Managers, Troo Capital, and SBI General Insurance Co. are among the other marquee investors in the pre-IPO round fundraising.
Four domestic mutual funds have applied through a total of nine schemes, the company said in an exchange filing on Tuesday. They have collectively netted 43.2% of the anchor portion.
LIC Mutual Fund, HDFC Mutual Fund and Aditya Birla Sun Life AMC are among the key investors in this category.
About DEE Development Engineers IPO
DEE Development Engineers plans to raise up to Rs 418 crore through its initial public offering, which is set to open on Wednesday. The IPO consists of a fresh issue of 1.6 crore shares worth approximately Rs 325 crore and an offer for sale of 0.46 crore shares amounting to Rs 93 crore.
The company, which operates under the DEE Piping Systems brand, has set a price band of Rs 193–203 per share with a face value of Rs 10 each for the issue that will close on Friday.
The minimum lot size for retail investors is 73 shares, requiring an investment of at least Rs 14,819. For small non-institutional investors, the minimum lot size is 14, amounting to Rs 2.07 lakh. The minimum lot size for big non-institutional investors is 67, totaling over Rs 10 lakh, according to the red herring prospectus.
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