IPO Market Latest News : The IPO market is again gaining momentum. If you are also looking for a new IPO (Upcoming IPO), then you are going to get a chance next week. The IPO of piping solution provider company The Development Engineers Limited (DDEL IPO) will open on 19 June 2024 and can be subscribed till 21 June 2024. For the IPO, the company has fixed the price band at Rs 193-203 per share (DDEL IPO Price Band). It will open for anchor investors on June 18 and its listing will be on June 26.
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The size is 418 crores
The size of DDEL’s IPO is Rs 418 crore. Under the IPO, new equity shares worth Rs 325 crore will be issued. Apart from this, promoter Krishna Lalit Bansal will sell 45.82 lakh equity shares worth Rs 93 crore through Offer for Sale (OFS). Out of the Rs 325 crore to be raised from the sale of shares, Rs 175 crore will be used to repay the loan, Rs 75 crore will be used to meet the working capital requirements and the remaining Rs 75 crore will be used for general corporate purposes.
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20% premium in grey market
There has been a stir in the grey market regarding the IPO of The Development Engineers Limited (DEE Development Engineers). In the grey market, the unlisted stock of the company is at a premium of Rs 40. While the upper price band is Rs 203. That is, if we look at the GMP now, the stock can be listed at Rs 243, up 20 per cent compared to its issue price of Rs 203.
How much reserve for whom
In the IPO of The Development Engineers Limited, 35% share has been reserved for retail investors. At the same time, 50% share is reserved for Qualified Institutional Buyers i.e. QIB. While 15% share is reserved for Net Institutional Investors. The Development is an engineering company that provides special process piping solutions for oil and gas, power (including nuclear), chemical and other processing industries through engineering, procurement and manufacturing.
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Lot Size
There are 73 shares in 1 lot in the IPO and it is mandatory to buy 1 lot. Considering the upper price band of Rs 203, retail investors will have to invest at least Rs 14,819 in it. Whereas for a maximum of 13 lots, one can invest Rs 192,647.
The company has strong financials
Talking about the finances of DDEL, the company’s revenue, expense and PAT in the financial year 2021 is Rs 513 crore, 504 crore and 14.21 crore. Whereas in the financial year 2023 it was 614 crore, 594 crore and 12.97 crore. At the same time, in the first 9 months of the financial year, the revenue, expense and PAT were 558 crore, 539 crore and 14.34 crore.