DEE Development Engineers IPO Allotment Finalised; How To Check Status

The initial public offering of Dee Development Engineers Limited (DEE Piping Systems IPO) was subscribed 99.56 times on Friday led by institutional investors (QIB) who subscribed to the issue 201.91 times. Non-institutional investors (NII) subscribed to the issue 144 times followed by employee reserved category which subscribed 44.73 times. Retail investors subscribed to the issue 23.42 times on the final day of the bidding for the issue.

The allotment for the Dee Development Engineers IPO was finalised on Monday, June 24.

Once out, Investors can check the Dee Piping Systems IPO allotment status on the official website of the registrar for IPO, Link Intime India Private Ltd. and the BSE website.

Given below is the step-by-step guide for verifying the Dee Development Engineers IPO allotment status.

• Visit the Link Intime India website here: https://linkintime.co.in/initial_offer/public-issues.html

• Select "Dee Development Engineers Limited" from the company drop-down list on the Public Issues page.

• Enter your PAN number, application number, DP Client ID or Account Number/IFSC.

• Click on the "SUBMIT" button.

• Download or print the allotment status for your records.

• Go to the official BSE website here: https://www.bseindia.com/investors/appli_check.aspx

• Select the issue type as 'Equity.'

• Choose "Dee Development Engineers Limited" from the dropdown menu.

• Enter your application number or PAN (Permanent Account Number).

• Complete the 'Captcha' for verification.

• Click on the "Search" button to view your allotment status.

• Download or print the allotment status for your records.

The shares of Dee Development Engineers Limited (DEE Piping Systems IPO) will be listed on Wednesday, June 26, 2024. The company will be listed on both the NSE and BSE.

• Basis of Allotment: Monday, June 24

• Initiation of Refunds: Tuesday, June 25

• Credit of Shares to Demat: Tuesday, June 25

• Listing Date: Wednesday, June 26

Investors who were successfully allotted the shares of the company will have their demat accounts credited on June 25. The refund procedure will begin on Tuesday, as soon as the allotment is finalised.

Dee Development Engineers IPO became the 9th most subscribed IPO of 2024. With 99.56 times the subscription it ranked just above Platinum Industries which saw an overall subscription of 99.03.

The piping solutions provider is looking to raise up to Rs 418 crore. The IPO consists of a fresh issue of Rs 325 crore or 1.6 crore shares and an offer-for-sale of 0.46 crore shares amounting to Rs 93 crore. The issue was subscribed 8.99 times on day two and 2.51 times on day one. The price band is set at Rs 193-203 per share. 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, totalling over Rs 10 lakh, according to the red herring prospectus.

DDEL is a company that manufactures and supplies specialised process piping solutions for sectors like oil and gas, power, and chemicals. It manufactures piping products, like high-pressure piping systems, piping spools, and high-frequency induction pipe bends. The engineering company has seven manufacturing facilities, including one in Bangkok and three in Palwal, Haryana. It has also recently expanded into a new business vertical. Krishan Bansal, Ashima Bansal, and DDE Piping Components Private Limited are the promoters of the company.