DEE Piping Systems IPO Subscription Status: Check Latest GMP, Price Band And Other Details

The retail investors need to apply for a minimum lot size of 73 shares, translating to an investment of Rs 14,819. For small non-institutional investors (sNII), the minimum investment is 14 lots (1,022 shares) at Rs 207,466, while large non-institutional investors (bNII) must invest in 68 lots (4,964 shares) at Rs 1,007,692.
DEE Piping Systems IPO

DEE Piping Systems IPO (Image Source: iStockphoto)

DEE Piping Systems is set to close its IPO subscription today, June 21, 2024. The IPO, valued at Rs 418.01 crores, comprises a fresh issue of 1.6 crore shares amounting to Rs 325.00 crores, and an offer for sale of 0.46 crore shares totaling Rs 93.01 crores. The IPO price band is set between Rs 193 to Rs 203 per share.
At the time of filing, DEE Piping Systems IPO has received a subscription rate of 34.03 times. The retail investors showed substantial interest, with the retail category being subscribed 16.42 times. The Qualified institutional buyers (QIB) also demonstrated strong demand, leading to a subscription rate of 22.50 times. The non-institutional investors (NII) category saw the highest interest, with subscriptions soaring to 89.91 times.
The retail investors need to apply for a minimum lot size of 73 shares, translating to an investment of Rs 14,819. For small non-institutional investors (sNII), the minimum investment is 14 lots (1,022 shares) at Rs 207,466, while large non-institutional investors (bNII) must invest in 68 lots (4,964 shares) at Rs 1,007,692.
The IPO opened for subscription on June 19 and is expected to finalise the allotment on June 24, 2024. DEE Piping Systems will list on the BSE and NSE, with the tentative listing date set for June 26, 2024.
As per multiple websites that track the grey market premium activities, the shares of Kronox Lab Sciences IPO are commanding a GMP in the price range of Rs 90 - Rs 100 in the unlisted market
Founded in 1988, DEE Development Engineers Limited specializes in providing process piping solutions for industries such as oil and gas, power (including nuclear), and chemicals. The company’s product range includes high-pressure piping systems, piping spools, high frequency induction pipe bends, and more. They also manufacture boiler superheater coils, de-superheaters, and other customized components.
DEE Piping Systems operates seven manufacturing facilities located in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand, with three of these facilities in Palwal, Haryana.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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