DEE Development Engineers Ltd - IPO

DEE Development Engineers Ltd IPO Details

Initial public offering of 20,596,938*# equity shares of face value of Rs. 10 each (Equity Shares) of Dee Development Engineers Limited (The Company or the Issuer) for cash at a price of Rs. 203.00 per equity share (Offer Price) aggregating to Rs. 418.01# crores (the Offer). The offer comprises of a fresh issue of 16,014,938*# equity shares by the company aggregating upto Rs. 325.00# crores (the Fresh Issue) and an offer for sale of 45,82,000*# equity shares (the Offered Shares) by Krishan Lalit Bansal (Selling Shareholder) aggregating to Rs. 93.01# crores (the Offer for Sale). The offer shall constitute 29.83#% of the post-offer paid-up equity share capital of the company. This offer included a reservation of 54,347# equity shares (constituting 0.08%# of the post offer paid up equity share capital of the company) aggregating to Rs. 1.00# crores for subscription by eligible employees (as defined herein) (Employee Reservation Portion). The employee reservation portion did not exceed 5%# of the post-offer paid-up equity share capital. The offer less the employee reservation portion is referred to as the Net Offer. The company, in consultation with the book running lead managers, offered a discount of Rs. 19.00 per equity share to eligible employees bidding in the employee reservation portion (Employee Discount). The offer and the net offer constitutes 29.83%# and 29.75%#, respectively, of the post-offer paid-up equity share capital of the company. The face value of the equity shares is Rs. 10 each and the offer price is 20.30 times the face value of the equity shares.

Objective of issue

Funding working capital requirements of the company. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and its subsidiary DEE Piping Systems (Thailand) Co Ltd and DEE Fabricom India Pvt Ltd. General corporate purposes.

DEE Development Engineers Ltd Contact Details

DEE Development Engineers Ltd, C-101 247 Park, L B S Marg, Vikhroli West, Mumbai-400083

Phone - 91-22-49186000

Fax - 91-22-49186060

Email - secretarial@deepiping.com

Website - www.deepiping.com