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)

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code