DEE Piping Systems IPO
DEE Piping Systems IPO — date, price band, lot size & details 2024
DEE Piping Systems listed on 26 Jun 2024 at ₹339, 67% above the ₹203 issue price.
DEE Development Engineers provides specialised process piping solutions for oil and gas, power, chemicals and other process industries. Its total income was Rs 614.32 crore in FY2023.
Stock price
DEE Piping Systems is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 19 Jun 2024
- Close 21 Jun 2024
- Allotment 24 Jun 2024
- Refund/credit 25 Jun 2024
- Listing 26 Jun 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 19 to 21 Jun, 2024 |
|---|---|
| Price Band | ₹193 – ₹203 |
| Face Value | ₹10 |
| Lot Size | 73 Shares |
| Issue Size | ₹418.01 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 19.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,819 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 73 shares at the ₹203 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 73 | ₹14,819 |
| Retail (max) | 13 | 949 | ₹1,92,647 |
| S-HNI (min) | 14 | 1,022 | ₹2,07,466 |
| S-HNI (max) | 67 | 4,891 | ₹9,92,873 |
| B-HNI (min) | 68 | 4,964 | ₹10,07,692 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 470.84 crore in FY2022 to Rs 614.32 crore in FY2023.
- 02Total income was Rs 557.86 crore in the nine months to 31 December 2023.
- 03Rs 175.00 crore of the fresh issue was planned for repaying debt.
- 04It has over 35 years of piping manufacturing experience.
- 05Net worth was Rs 428.19 crore on 31 December 2023.
Risks · 5
- 01Profit is thin, at Rs 12.97 crore in FY2023, and the source puts the PAT margin at 2.63%.
- 02The pre-issue P/E was 83 at the upper band of Rs 203, based on EPS of Rs 2.45.
- 03Total borrowing was Rs 407.14 crore on 31 December 2023.
- 04Orders depend on project spending in oil and gas and power, which can be lumpy. Return on net worth was 3.35% as per the source.
- 05Promoters and the promoter group held 100% before the issue and 70.17% after it.
Three years of numbers
All figures in ₹ crore, as reported in the DEE Piping Systems offer document.
| Metric | 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 |
| Total Borrowing | 407.14 | 352.62 | 285.36 | 257.17 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the DEE Piping Systems RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
DEE Piping Systems IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.45 | ₹2.77 |
| P/E Ratio (x) | 83.00 | 73.33 |
| Market Cap at Offer Price (₹ Cr) | ₹1,188.17 | ₹1,050.91 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹203 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹297.13 Cr of the issue is earmarked to named objects.
DEE Piping Systems IPO Anchor Investors
19 anchor investors across 14 fund houses committed ₹125.10 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It has over three and a half decades of manufacturing experience. It makes high-pressure piping systems, piping spools, induction pipe bends, LSAW pipes, pipe fittings, pressure vessels, industrial stacks, modular skids and accessories such as boiler superheater coils.
Its promoters are Krishan Lalit Bansal, Ashima Bansal and DDE Piping Components.
The IPO was Rs 418.01 crore, with Rs 325.02 crore of fresh issue and Rs 92.99 crore of offer for sale by Krishan Lalit Bansal. Rs 175.00 crore was planned for repaying borrowings and Rs 75.00 crore for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
DEE Piping Systems IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
141 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
Equirus Capital Pvt.Ltd.
36 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of DEE Piping Systems?
The current Grey Market Premium is ₹88, or 43% over the issue price.
What is the DEE Piping Systems IPO price band?
₹193 to ₹203, on a face value of ₹10.
When is the allotment?
The basis of allotment is 24 June 2024, with listing on 26 June 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
