New Delhi:
Shares of DEE Development Engineers Limited (DEE Piping Systems) made a strong debut in the market on their first day.
Listed on the National Stock Exchange (NSE) on Wednesday at Rs 339, the shares saw a remarkable gain of 67 percent from their IPO price of Rs 203.
Investors who participated in the IPO of DEE Development Engineers have seen substantial benefits with the listing of the shares.
Impressive Listing on BSE
On the Bombay Stock Exchange (BSE), shares of DEE Development Engineers Limited were listed at Rs 325, a premium of 60.10 percent.
Following this impressive listing, the company’s shares rose over 7 percent, reaching Rs 365.70.
The IPO was open for subscription from June 19, 2024, to June 21, 2024, with a total public issue size of Rs 418.01 crore.
Established in 1988, DEE Development Engineers specializes in process piping solutions and manufactures various piping products, operating seven manufacturing units.
Highly Subscribed IPO
The IPO of DEE Development Engineers Limited was highly popular, being subscribed 103.03 times in total.
The retail investors’ quota was subscribed 23.66 times, while the Non-Institutional Investors (NII) category saw a subscription rate of 149.38 times.
The Qualified Institutional Buyers (QIB) quota was subscribed 206.54 times.
Retail investors could apply for a minimum of 1 lot and a maximum of 13 lots, with each lot containing 73 shares.
This meant that the minimum investment required from retail investors was Rs 14,819.
