Rs 325 Cr Fresh Issue And OFS Of 79,00,000 Shares
Dee Development Engineers Limited currently is ranked as one of the leading process pipe solution providers in the world
MUMBAI, Oct 2 (The CONNECT) – With IPO plans, Dee Development Engineers Limited, an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear) and chemicals has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI)
The Company plans to raise funds through offer of equity shares with a face value ₹ 10 each through the initial public offering. The offer comprises of fresh issue of Equity Shares aggregating up to ₹ 325 crore and offer for sale up to 7,900,000 equity share by Selling Shareholders.
The shares are proposed to be listed on both the BSE and NSE.
The company proposes to utilize net proceeds from fresh issue towards- funding working capital requirements of Company; Prepayment or repayment of all or a portion of certain outstanding borrowings availed by Company and its Subsidiaries, Dee Piping Systems (Thailand) Co. Limited and Dee Fabricom India Private Limited; and General corporate purposes.
Dee Development Engineers Limited 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 as per D&B Report.
At present, company is the largest player in process piping solutions in India, in terms of installed capacity.
SBI Capital Markets Limited & Equirus Capital Private Limited are the Book Running Lead Managers to the issue.
The company has manufacturing experience of over three and a half decades and is 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.
