Dee Development garners Rs 1.25 billion from anchor investors for IPO
ECONOMY & POLICY

Dee Development garners Rs 1.25 billion from anchor investors for IPO

Dee Development Engineers Ltd has raised over Rs 1.25 billion from anchor investors ahead of its upcoming IPO, with allocations to funds such as Citigroup Global Markets Mauritius, Morgan Stanley Asia (Singapore) Pte, Aurigin Master Fund, Pinebridge Global Funds, and SBI General Insurance Company.

The Rs 4.18 billion IPO, scheduled from June 19 to June 21, involves issuing 6.163 million equity shares at Rs 203 each, as detailed in a circular on BSE's website. Additionally, the IPO includes a fresh issuance of Rs 3.25 billion in equity shares and an offer-for-sale of Rs 930 million by promoter and CMD Krishan Lalit Bansal, bringing the total IPO size to Rs 4.18 billion.

The funds raised will primarily address debt repayment, working capital needs, and general corporate purposes.

Dee Development Engineers specializes in providing custom process piping solutions across various sectors including oil and gas, power, chemicals, and other process industries, operating from seven manufacturing facilities across India and Thailand.

(Source: ET Energy)

Dee Development Engineers Ltd has raised over Rs 1.25 billion from anchor investors ahead of its upcoming IPO, with allocations to funds such as Citigroup Global Markets Mauritius, Morgan Stanley Asia (Singapore) Pte, Aurigin Master Fund, Pinebridge Global Funds, and SBI General Insurance Company. The Rs 4.18 billion IPO, scheduled from June 19 to June 21, involves issuing 6.163 million equity shares at Rs 203 each, as detailed in a circular on BSE's website. Additionally, the IPO includes a fresh issuance of Rs 3.25 billion in equity shares and an offer-for-sale of Rs 930 million by promoter and CMD Krishan Lalit Bansal, bringing the total IPO size to Rs 4.18 billion. The funds raised will primarily address debt repayment, working capital needs, and general corporate purposes. Dee Development Engineers specializes in providing custom process piping solutions across various sectors including oil and gas, power, chemicals, and other process industries, operating from seven manufacturing facilities across India and Thailand. (Source: ET Energy)

Next Story
Infrastructure Energy

We are among the global top 3 in tech adopti

As energy gains global importance, L&T has built a strong presence across hydrocarbons, power, renewables and green technologies. With energy contributing significantly to its revenues, the company is now focused on sustainability and future readiness. In conversation with PRATAP PADODE, Editor-in-Chief, CW, Subramanian Sarma, Deputy Managing Director & President, L&T outlines the company’s strategy for transition, talent and technology.With energy becoming increasingly vital and a key contributor to L&T’s revenues, how do you see the segment evolving?We’ve been..

Next Story
Real Estate

Redevelopment Rush!

Mumbai is on the cusp of an urban transformation, driven by the pressing need to replace ageing, unsafe buildings with modern, high-density developments. The scale and pace of redevelopment across the city is unprecedented – and yet fraught with complexity.Redevelopment has become a defining strategy for urban renewal in Mumbai. One of the most challenging aspects is the displacement it entails – residents are often required to vacate their homes and live in transit accommodations until the new structures are ready. This raises valid concerns: Will the transit housing meet our needs? Will ..

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Achieves Sales Value of Rs 400 Bn

On National MSME Day, Vedanta, India’s leading critical minerals, transition metals, energy and technology conglomerate announced that its non-ferrous metals e-store has achieved a staggering Rs 400 billion in total sales value. Operated under the name of Vedanta Metal Bazaar, it is the world’s largest non-ferrous metals e-store offering more than 1200 stock keeping units (SKUs) across metals such as aluminium, zinc, lead and copper. The platform brings ease-of-doing business for customers on their fingertips by providing a streamlined, digital-first solution that enables businesses to pro..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?