DEE Development Engineers raises ₹125 crore from anchor issue ahead of IPO

June 18, 2024

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June 18, 2024 0 comment

Jun 18, 2024 10:38 PM IST

The ₹418-crore initial public offering (IPO) will open for subscription on June 19 and conclude on June 21.

Piping solutions provider Dee Development Engineers Ltd on Tuesday said it has mobilised a little over ₹125 crore from anchor investors ahead of its initial share-sale.

203 apiece, aggregating to ₹125.1 crore.” title=”According to a circular uploaded on BSE’S website, the company has allotted 61.63 lakh equity shares to 19 funds at ₹203 apiece, aggregating to ₹125.1 crore.”>

According to a circular uploaded on BSE’S website, the company has allotted 61.63 lakh equity shares to 19 funds at ₹203 apiece, aggregating to ₹125.1 crore.

The ₹418-crore initial public offering (IPO) will open for subscription on June 19 and conclude on June 21.

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According to a circular uploaded on BSE’S website, the company has allotted 61.63 lakh equity shares to 19 funds at ₹203 apiece, aggregating to ₹125.1 crore.

Citigroup Global Markets Mauritius, Morgan Stanley Asia (Singapore) Pte, Aurigin Master Fund, Pinebridge Global Funds, SBI General Insurance Company, are among the funds who have been allocated shares.

In addition, Kotak Mahindra Mutual Fund, LIC Mutual Fund, HDFC Mutual Fund and Aditya Birla Sun Life Mutual Fund have been allocated shares in the anchor round.

The initial share sale comprises fresh issuance of equity shares worth ₹325 crore and an offer-for-sale of 45.82 lakh equity shares valued at ₹93 crore by promoter and CMD Krishan Lalit Bansal at the upper-end of the price band. This takes the IPO size to ₹418 crore.

Read more: Bumper market debut: Ixigo shares debut at 49% premium to IPO price

The company’s customers include JGC Corporation, Nooter Eriksen, MAN Energy Solutions SE, Mitsubishi Heavy Industries, John Cockerill SA, Reliance Industries, HPCLMittal Energy Ltd and Toshiba JSW Power Systems.

SBI Capital Markets and Equirus Capital are the merchant bankers to manage the company’s maiden public issue.

Equity shares of the engineering company will be listed on the BSE and NSE.

Copyright 2024 - All Rights Reserved - Janashakti.News

The ₹418-crore initial public offering (IPO) will open for subscription on June 19 and conclude on June 21.

Read more: Falcon Technoprojects India IPO opens on June 19: What you must know the issue in 10 points

Read more: Bumper market debut: Ixigo shares debut at 49% premium to IPO price

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Copyright 2024 - All Rights Reserved - Janashakti.News

DEE Development Engineers raises ₹125 crore from anchor issue ahead of IPO

The ₹418-crore initial public offering (IPO) will open for subscription on June 19 and conclude on June 21.

Read more: Falcon Technoprojects India IPO opens on June 19: What you must know the issue in 10 points

Read more: Bumper market debut: Ixigo shares debut at 49% premium to IPO price

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