Engineering/Piping Systems - Listed on 26 June 2024
DEE Development Engineers (Engineering/Piping Systems) closed its IPO window in 2024 and listed on NSE and BSE on 26 June 2024 at an upper band issue price of Rs 325, opening at Rs 377.75 for a listing gain of +16.2% and closing day one at Rs 335.32 (+3.2% on closing basis). The IPO was subscribed 99.56x overall - QIB 201.91x, HNI/NII 144.00x, Retail 23.42x. The total issue size was Rs 418.01 Cr (Fresh Issue Rs 325 Cr, OFS Rs 93.01 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Engineering/Piping Systems
DEE Development Engineers operates in the Engineering/Piping Systems space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The DEE Development Engineers issue was offered at an upper price of Rs 325 and raised approximately Rs 418.01 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 50 | +27.69% |
| Day 2 | Rs 50 | +27.69% |
| Day 3 | Rs 80 | +27.69% |
| Day 4 | Rs 90 | +28.62% |
| Day 5 | Rs 93 | +27.69% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the DEE Development Engineers IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
DEE Development Engineers IPO listed at +16.2% versus the upper issue price of Rs 325 on 26 June 2024.
DEE Development Engineers IPO was subscribed 99.56x overall. QIB portion was subscribed 201.91x, HNI / NII 144.00x and Retail 23.42x.
IPO GMP started at Rs 50 on Day 1 and moved to Rs 93 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.