Dee Development Rs 418 Cr IPO To Open On 19 June
IPO will open on 19 June and close on 21 June followed by allotment on 24 June and listing on 26 June
Dee Development Engineers' initial public offering (IPO) will go live for public subscription this week on 19 June in an attempt to raise Rs 418 crore.
The IPO will consist of fresh issues of Rs 325 crore and an offer-for-sale (OFS) worth Rs 93 crore by promoter and investor selling shareholders.
Retail investors can bid for the maximum of 13 lots, while for the 1 lot of 73 shares with the minimum investment of Rs 14,819.
Dee Development Engineers IPO will open on 19 June and close on 21 June followed by allotment on 24 June. Subsequently, the IPO will list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 26 June.
SBI Capital Markets and Equirus Capital are the book running lead managers, while Link Intime India is the registrar to the offer.
IPO Objectives
Company intends to utilise the net proceeds of Rs 325 crore towards funding working capital requirement and repayment of debt along with general corporate purposes.
Besides, the firm will also get benefits on listing in the public market which will enhance the brand’s visibility and provide liquidity to the shareholders.
Firm’s Financials
The firm registered revenue of Rs 614 crore in FY23, compared to Rs 470 crore in FY22.
The firm’s profit after tax (PAT) increased to Rs 12.97 crore in FY23 compared to Rs 8.20 crore in FY22.
Overall, revenue and PAT increased by 30.47 per cent and 58.25 per cent respectively.
