DEE Development Engineers Limited | Globe Capital Market LTD.
DEE Development Engineers Limited
Closed
Price Band
₹193 to ₹203 per share
IPO Issue Period
June 19, 2024 to June 21, 2024
Issue Size
₹418.01 Cr
Face value
₹10 per share
Fresh issue
₹325.00 Cr
Offer for sale
₹93.01 Cr
Minimum Shares for Retail
73 Shares
Listing on
BSE, NSE
Issue Type
Book Built Issue IPO
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
Wednesday, June 26, 2024
QIB
50%
NII
15%
Retail
35%

SBI Capital Markets Limited
Equirus Capital Private Limited

Dee Development Engineers Ltd. (DDEL) is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing. It has manufacturing experience of over three and a half decades and have been able to leverage its brand, strategically located manufacturing facilities and engineering capabilities to successfully expand business. As part of its specialized process piping solutions, the company also manufactures and supplies piping products such as 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 including, boiler super heater coils, de-super heaters and other customized manufactured components. The Company, currently is ranked as one of the leading process pipe solution providers in the world, in terms of technical capability to address complex process piping requirement arising from multiple industrial segments. 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.

For year/ period ended ( in lacs.)

Particulars H1FY23 FY22 FY21
Total Revenue 614.32 470.84 513.03
Profit After Tax 12.97 8.20 14.21
EPS 2.45 1.53 2.44
OPM (%) 11.62% 14.02% 10.84%
PATM (%) 2.18% 1.78% 2.87%

 

For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
FY23
Net Profits(Cr.)
FY23

 

*Market cap @upper band 

  • 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 Promoters and professional management team with extensive domain knowledge.

The Company will not receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

DDEL is one of the niche player in specialized piping solutions globally and enjoys credentials with long term relationship with renowned customers. Investors may subscribe for the medium to long term rewards.

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