📷 Image Credits: Zee Business
DEE Piping Systems IPO has recently opened for subscription, starting on June 19, 2024. The initial public offering is set to be open for three trading days, closing on June 21, 2024, between 10 am to 5 pm. Zee Business Managing Editor Anil Singhvi has recommended investors to consider applying for the DEE Piping Systems IPO. He highlighted various key points about the IPO that potential investors should be aware of.
Anil Singhvi pointed out some positives and negatives associated with the DEE Piping Systems IPO. According to provisional exchange data, the IPO has received bids for 5,62,45,478 shares against 1,49,44,944 shares on offer, translating into a subscription of 3.76 times as of the second day of the bidding process on Thursday. This indicates a strong investor interest in the IPO.
The basis of the allotment of shares under the DEE Piping Systems IPO is scheduled to be finalized on Monday, June 24, 2024. The stock is expected to be listed on the secondary market on Wednesday, June 26, 2024, and will be available for trading on the BSE and NSE platforms.
DEE Piping Systems is a book built issue worth Rs 418.01 crores, consisting of a fresh issue of 1.6 crore shares and an offer for sale of 0.46 crore shares. The IPO price band is set at ₹193 to ₹203 per share, with a minimum lot size of 73 Shares. Retail investors can invest a minimum amount of ₹14,819.
DEE Development Engineers Limited, founded in 1988, specializes in providing specialized process piping solutions for industries such as oil and gas, power, chemicals, and more. The company has seven manufacturing facilities across India and Thailand, with a focus on high-quality production and specialized engineering capabilities.
Overall, based on Anil Singhvi’s recommendations, investors may consider applying for the DEE Piping Systems IPO for potential listing gains and long-term prospects. Stay updated on the latest business news, stock market updates, and IPO reviews on HeadlineFly.com.
