The share allotment of Dee Development Engineers is likely to be finalised today (June 24). The IPO was subscribed nearly 100 times at close owing to strong interest from non-institutional and institutional buyers. For those who have applied for the IPO, you can check the status of your share allotment on the BSE or by logging in to the registrar website. The registrar of Dee Development Engineers IPO is Link Intime India.
In the grey market market, the company’s shares are trading with a premium of ₹95 against the IPO price of ₹203 which implies a gain of 47% on listing day- June 26.
Net proceeds from the IPO can be used by the company for funding working capital requirements, repayment of debt and general corporate purposes. The engineering company provides specialized process piping solutions for industries such as oil and gas, power, chemicals and others through engineering, procurement and manufacturing. SBI Capital Markets and Equirus Capital are the book-running lead managers to the IPO.
