Dee Development IPO listed @ Rs. 339

June 26, 2024 admin Leave a reply Post Comment

Dee Development Engineers IPO GMP, Details, Guidance, Subscription Status, allotment  

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Table of Contents

• GMP
• Reviews
• Subscription
• Allotment

What is the business of Dee Development Engineers?

Dee Development Engineers is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing. It has manufacturing experience of over three and a half decades and have been able to leverage its brand, strategically located manufacturing facilities and engineering capabilities to successfully expand its business. As part of its specialized process piping solutions, it also manufactures and supplies piping products such as high-pressure piping systems, piping spools, high frequency induction pipe bends, LSAW pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids and accessories including, boiler superheater coils, de-super heaters and other customized manufactured components.
The Company currently is ranked as one of the leading process pipe solution providers in the world, in terms of technical capability to address complex process piping requirement arising from multiple industrial segments. At present, it is the largest player in process piping solutions in India, in terms of installed capacity.

It provides comprehensive specialized process piping solutions including engineering services such as pre bid engineering, basic engineering, detailed engineering and support engineering which includes engineering of process/ power piping systems for projects, and pre-fabrication services such as cutting and beveling on conventional and CNC machines, welding services on semi-automatic and fully automatic robotic welding machines, conventional and digital radiography, post weld heat treatment using CNG fired fully calibrated furnaces and induction heating process, hydro testing, pickling and passivation, grit blasting (manual and semiautomatic) and painting (manual and semiautomatic). It also specializes in handling complex metals such as varying grades of carbon steel, stainless steel, super duplex stainless steel, alloy steel and other materials including inconel and hastelloy in its manufacturing processes. 

The company six strategically located Manufacturing Facilities at Palwal in Haryana, Anjar in Gujarat, Barmer in Rajasthan and Bangkok in Thailand, with three Manufacturing Facilities located at Palwal, Haryana. It also operates a temporary Manufacturing Facility in Barmer, Rajasthan which is a dedicated facility set up to cater to the piping and erection requirements of the HPCL Rajasthan Refinery Limited

In Fiscal 2023, Fiscal 2022 and Fiscal 2021, it supplied its products to domestic customers and its overseas customers in countries including USA, Europe, Japan, Canada, Middle East, Nigeria, Vietnam, Singapore, China and Taiwan. In Fiscal 2023, Fiscal 2022 and Fiscal 2021 its revenue from contracts with customers outside India was Rs. 2,685.92 million, Rs 1,681.48 million and Rs. 2,259.62 million, respectively, which represented 45.10%, 36.48% and 45.63% of its revenue from contracts with
customers for the respective periods.

For more information, click www.deepiping.com

Dee Development Engineers IPO GMP, Particulars & Guidance

Dee Development Engineers IPO Guidance

Dee Development Engineers is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing. It has manufacturing experience of over three and a half decades and have been able to leverage its brand, strategically located manufacturing facilities and engineering capabilities to successfully expand its business.
The Company currently is ranked as one of the leading process pipe solution providers in the world, in terms of technical capability to address complex process piping requirement arising from multiple industrial segments.
Size: The size of this mainboard IPO is only Rs. 418.01 Crore and retail portion is only Rs. 146.30 crore and HNI portion is Rs. 62.70 crore. So oversubscription is not an issue.
Financial Analysis: The business of the company cannot be compared with that of ISGES Heavy Engineers, Apparently, the shares of this company are offered at very high valuations, however the business has high entry barriers and competition is expected to be very low in near future. The company has shown steady growth in the topline and the bottom-line. Looking to the trend, the performance for the year 2023-24 which will be announced after the IPO, is expected to be excellent. Huge capital-investments are coming in for  Refineries, petrochemical plants, power plants and it will create huge market for this company. 
Post Listing: On the basis of estimated profits for the year 2023-24, we consider the valuation/offer price at upper price band to be somewhat costly and we expect significant gains six months after the listing is done.
Listing Gains? So far as listing gains are concerned, small size of the IPO, huge oversubscription and interest cost may provide about 25 to 30% listing gains. At present, you may see some premium quotes in the grey market. The business is excellent with strong growth potential, yet we consider the offer price, too costly and hence we expect small listing gains (may be around 20 to 30% of the offer price)

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Dee Development Engineers IPO GMP

Dee Development Engineers IPO GMP today details

Dee Development Engineers IPO GMP today, Details, Guidance, Subscription Status, allotment