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DEE Piping Systems recently concluded its initial public offering (IPO) with an overall subscription of 103.03 times, reflecting robust investor interest. The IPO, open for subscription from June 19 to June 21, garnered significant attention across various segments. DEE Piping Systems, a provider of specialised process piping solutions to industries like oil and gas, power, chemicals, etc., aims to meet its working capital requirements and prepay outstanding borrowings through this IPO.
The IPO, priced between ₹193-203 per share with a lot size of 73 shares, raised a total of ₹418.01 crore. The offering included a fresh issue of 1.6 crore shares amounting to ₹325 crore and an offer-for-sale of 46 lakh shares totaling ₹93.01 crore. The IPO’s latest Grey Market Premium (GMP) stands at ₹88, indicating an estimated listing price of ₹291, a premium of 43.35%.
Investors eagerly awaiting the share allotment status can expect it to be finalised on Monday, June 24, 2024. Those allotted shares can anticipate the credit in their demat accounts by Tuesday, June 25. The allotment status can be checked online on the registrar’s website, Link Intime India Private Ltd, using PAN details or the IPO allocation number.
Furthermore, the shares of DEE Piping Systems are slated to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, June 26, 2024. Investors are advised to consult certified experts before making any investment decisions in the current market scenario. Stay tuned for more updates on business news and stock market trends on HeadlineFly.com.
