Founded in 1988, DEE Development Engineers Limited is an engineering company that provides specialized process piping solutions for oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing.
The company also manufactures and supplies piping products, including 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. These accessories include boiler superheater coils, de-superheaters, and other customized manufactured components.
The company has seven manufacturing facilities in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand, with three manufacturing facilities located in Palwal, Haryana.
The company’s manufacturing facilities had a cumulative installed capacity of 70,875 MT for the nine months ended December 31, 2023, with annual capacities of 94,500 MT, 91,500 MT, and 86,500 MT for Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively.
The company recently expanded into a new business vertical, offering design, engineering, fabrication, and manufacturing of pilot plants at Palwal Facility III.
As of March 31, 2024, the company has 1,061 employees, including 54 highly skilled welders with certifications like CSWIP 3.0 and 3.1, AWS-CWI, and CWV, and 53 employees are highly skilled in non-destructive examination with certifications like NDE level II qualifications as per ASNT/SNT-TC-1A, and NDE level III qualifications as per BS EN ISO 9712.
DEE Piping Systems IPO – Details
| IPO Opening Date | 19 June 2024 |
| IPO Closing Date | 21 June 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,05,91,852 Shares Worth ₹418.01 Crore Fresh Issue: 1,60,09,852 Shares Worth ₹325.00Crore Offer For Sale: 45,82,000 Shares Worth ₹93.01 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹193 – ₹203 per share |
| Market Lot | 73 Shares |
| Min Order | 73 Shares (1 Lot) |
| Employee Discount | Rs 19 per share |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
DEE Piping Systems IPO – Date Schedule
| IPO Open Date | 19 June 2024 |
| IPO Close Date | 21 June 2024 |
| Basis of Allotment Date | 24 June 2024 |
| Initiation of Refund | 25 June 2024 |
| Credit of Shares to Demat Account | 25 June 2024 |
| IPO Listing Date | 26 June 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 21, 2024 |
DEE Piping Systems IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 73 | ₹14,819 |
| Retail (Max) | 13 | 949 | ₹1,92,647 |
| S-HNI (Min) | 14 | 1,022 | ₹2,07,466 |
| S-HNI (Max) | 67 | 4,891 | ₹9,92,873 |
| B-HNI (Min) | 68 | 4,964 | ₹10,07,692 |
Competitive 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 us a comprehensive solution provider for our diversified customers spread across geographies and sectors.
- Strong focus on automation and process excellence with an experienced engineering team to drive operational efficiencies.
- Experienced and dedicated promoter and professional management team with extensive domain knowledge.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 513.03 | 504.20 | 14.21 | 257.17 |
| 31 March 2022 | 470.84 | 457.55 | 8.20 | 285.36 |
| 31 March 2023 | 614.32 | 593.95 | 12.97 | 352.62 |
| 31 December 2023 | 557.86 | 538.83 | 14.34 | 407.14 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 3.91% |
| Debt/Equity | 0.85 |
| RoNW | 3.35% |
| P/BV | 2.46 |
| PAT Margin (%) | 2.63 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 2.45 | 2.77 |
| P/E (x) | 83 | 73.33 |
Object Of The Issue
- Funding working capital requirements of the Company;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
- General corporate purposes
DEE Piping Systems IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 1 | Isgec Heavy Engineering Ltd | 42.40 |
DEE Piping Systems IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 70.18% |
DEE Piping Systems IPO Prospectus
Company Contact Information
| DEE Development Engineers Limited Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Faridabad- 121102, Phone: +91 1275 248345 Email: secretarial@deepiping.com Website: https://www.deepiping.com/ |
DEE Piping Systems IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: dde.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
DEE Piping Systems IPO Lead Manager(s)
| 1. SBI Capital Markets Limited 2. Equirus Capital Private Limited |
DEE Piping Systems IPO FAQs
| What is DEE Piping Systems IPO? DEE Piping Systems IPO is a main-board IPO. The issue is priced at ₹193 to ₹203 per equity share. The IPO is to be listed on BSE & NSE. |
| When DEE Piping Systems IPO will open? The IPO is to open on 19 June 2024 for QIB, NII, and Retail Investors. |
| What is DEE Piping Systems IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the DEE Piping Systems IPO? You can apply DEE Piping Systems IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the DEE Piping Systems IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “DEE Piping Systems”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the DEE Piping Systems IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “DEE Piping Systems“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the DEE Piping Systems IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “DEE Piping Systems”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the DEE Piping Systems IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “DEE Piping Systems”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is DEE Piping Systems IPO Size? DEE Piping Systems IPO size is ₹418.01 Crore. |
| What is DEE Piping Systems IPO Price Band? DEE Piping Systems IPO Price Band is ₹193 to ₹203. |
| What is DEE Piping Systems IPO Minimum and Maximum Lot Size for retail? The minimum bid is 73 Shares with ₹14,819 amount while the maximum bid is 949 Shares with ₹1,92,647. |
| What is the DEE Piping Systems IPO Allotment Date? DEE Piping Systems IPO allotment date is 24 June 2024. |
| What is the DEE Piping Systems IPO Listing Date? DEE Piping Systems IPO listing date is 26 June 2024. The IPO is to list on BSE and NSE. |
