On the second day of bidding, DEE Development's IPO was subscribed 9 times

20 Jun 2024 , 06:50 PM

The DEE Development Engineers IPO got off to a great start on Wednesday, June 19, with retail and non-institutional investor (NII) portions completely booked within a few hours of the issue’s launch.

The engineering company’s IPO was completely subscribed on the first day of bidding. The bullish trend appears to continue into its second bidding day today, with the issue experiencing high demand, with NIIs leading. According to BSE data, the subscription status for the DEE Development IPO is 9.00 times.

According to BSE data, the initial share sale attracted bids for 13,44,43,005 shares, with 1,49,44,944 shares on offer.

The section for NIIs attracted 21.73 times as many subscriptions and the category for retail investors category was oversubscribed 8.43 times. The category for Qualified Institutional Buyers (QIBs) achieved a 16% subscription. Employees have subscribed 18.79 times.

According to BSE data, the subscription status for DEE Development IPO was 2.51 times on the first day of bidding.

Dee Development’s IPO, priced between ₹193 and ₹203 per equity share, will close on Friday, June 21. Investors can bid on a minimum of 73 equity shares.

The Dee Development IPO has allocated 50% of the shares in the public offering to qualified institutional buyers (QIB), 15% to NIIs, and 35% to retail investors. Eligible employees who bid in the employee reserve area will receive a ₹19 discount on equity shares.

Dee Developments is an engineering corporation that designs, procures and manufactures specialised process pipes for the oil and gas, electrical (including nuclear), chemicals and other industries.

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