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DEE Development Engineers IPO
Price Band
₹193.0–203.0
Issue Size
₹418.01 Cr
Lot Size
73 shares
Min Investment
₹14,819
GMP
+₹90.0 (44.33%)
Issue Price
₹203.0
Subject to Sauda
₹5000
Paid only if allotted
DEE Development Engineers IPO AI Summary
- DEE Development Engineers IPO is listed on BSE, NSE in the Industrial Products sector.
- Price band: ₹193.0–₹203.0 per share, lot size 73 shares (min. investment ₹14,819).
- Subscription window: 19 Jun–21 Jun 2024, listing on 26 Jun 2024.
- Current GMP is +₹90.0 (44.33%), an estimated listing price of ₹293 — unofficial and can change daily.
DEE Development Engineers Limited is an engineering firm focused on specialized piping solutions for various industries. The company is raising funds through its IPO to enhance working capital, pay down debt, and for general corporate purposes. The IPO has generated interest, as indicated by its Grey Market Premium.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
DEE Development Engineers IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 21 Jun 2024 — not a current signal.
8 of 10 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
DEE Development Engineers IPO Grey Market Premium (GMP) Today
GMP
+₹90.0
GMP %
+44.33%
Est. Listing
₹293.0
Updated: 25 Jul 2026 14:05
About the Company
Founded in 1988, DEE Development Engineers Limited is an engineering company that provides specialized process piping solutions for oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing. The company also manufactures and supplies piping products, including 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. These accessories include boiler superheater coils, de-superheaters, and other customized manufactured components. The company has seven manufacturing facilities in Palwal, Haryana; Anjar, Gujarat; Barmer, Rajasthan; Numaligarh, Assam; and Bangkok, Thailand, with three manufacturing facilities located in Palwal, Haryana. 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. The company recently expanded into a new business vertical, offering design, engineering, fabrication, and manufacturing of pilot plants at Palwal Facility III. As of March 31, 2024, the company has 1,061 employees, including 54 highly skilled welders with certifications like CSWIP 3.0 and 3.1, AWS-CWI, and CWV, and 53 employees are highly skilled in non-destructive examination with certifications like NDE level II qualifications as per ASNT/SNT-TC-1A, and NDE level III qualifications as per BS EN ISO 9712.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,171.01 | 966.26 | 845.40 | 835.88 |
| Total Income | 557.86 | 614.32 | 470.84 | 513.03 |
| Profit After Tax | 14.34 | 12.97 | 8.20 | 14.21 |
| NET Worth | 428.19 | 413.70 | 401.37 | 448.50 |
| Reserves and Surplus | 380.23 | 408.17 | 395.85 | 432.81 |
| Total Borrowing | 407.14 | 352.62 | 285.36 | 257.17 |
Key Ratios
EPS
₹2.45
NAV
₹82.59
ROCE
3.91%
RoNW
3.35%
P/B Value
2.46
P/E Ratio
83
Market Cap
₹1401.69 Cr
PAT Margin
2.63%
Debt/Equity
0.85
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Isgec Heavy Engineering Ltd | 325.32 | 8.59% | 42.4 | 26.72 | 26.72 |
| DEE Development Engineers Limited This IPO | 79.87 | 3.14% | — | 2.45 | 2.45 |
Promoters
Krishan Lalit Bansal, Ashima Bansal and DDE Piping Components Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding working capital requirements of our Company 75.00 2 Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company 175.00 3 General corporate purposes 47.13
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹470.84 Cr in the year ended 31 Mar 2022, increasing to ₹614.32 Cr by 31 Mar 2023, but then falling to ₹557.86 Cr by 31 Dec 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹8.20 Cr in the year ended 31 Mar 2022, rising to ₹12.97 Cr by 31 Mar 2023, and further increasing to ₹14.34 Cr by 31 Dec 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
DEE Development Engineers has an implied P/E of 83 at the issue price, compared to peers trading at a P/E of 42.4.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing gains of an IPO based on demand in the unofficial market. A higher GMP suggests strong demand and potential for listing gains, while a lower or negative GMP may indicate weak demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's fundamentals and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable investments may want to consider avoiding IPOs with high volatility and uncertain market conditions.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may see a surge in price on their first day, others may not perform as well. Investors should be prepared for both potential gains and losses.
This evaluation is generated from DEE Development Engineers's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is DEE Development Engineers IPO GMP today?
DEE Development Engineers IPO GMP today is +₹90.0 (44.33%), indicating an estimated listing price of ₹293. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of DEE Development Engineers IPO?
The price band of DEE Development Engineers IPO is ₹193.0–₹203.0 per share.
When does DEE Development Engineers IPO open and close?
DEE Development Engineers IPO opens on 19 June 2024 and closes on 21 June 2024.
When does DEE Development Engineers IPO list on the stock exchange?
DEE Development Engineers IPO listed on 26 June 2024 at ₹293.0.
What is the lot size for DEE Development Engineers IPO?
The lot size for DEE Development Engineers IPO is 73 shares, requiring a minimum investment of ₹14,819.
What is the price band for the DEE Development Engineers IPO?
The price band for the IPO is ₹193.0 to ₹203.0.
What is the minimum investment required?
The minimum investment required is ₹14,819.0.
When does the IPO open and close?
The IPO opens on June 19, 2024, and closes on June 21, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing gains of an IPO based on demand in the unofficial market.
When is the listing date for the IPO?
The listing date for the IPO is June 26, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
19 Jun 2024
Close
21 Jun 2024
Allotment
24 Jun 2024
Listing
26 Jun 2024
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