New Delhi: The subscription window of Initial Public Offer (IPO) of the engineering company, Dee Development Engineers Limited opened on Wednesday, June 19, 2024 in the primary market. So, now, if you want to know Dee Development IPO GMP and subscription status to understand the current situation, then have a look at what this expert said.
On the first day of the bidding process, the Dee Development IPO subscription reached 60 per cent (at the time of writing this article). High Net Worth Individuals (HNIs) have expressed more interest than retail investors so far, even though the difference is not much. Their quota was almost 100 per cent subscribed, while, retail investors’ quota was subscribed only 83 per cent.
Dee Development IPO GMP today
Dee Development IPO GMP today is Rs 50 on the opening date. Considering the upper price band of Rs 203 and GMP of Rs 50, the shares may have a listing gains of over 24 per cent on the bourses. However, the grey market premium is not an official number.
Dee Development IPO Expert Review
Although, the public issue has got average response from investors so far, but stock market expert, Arun Mantri, founder, Mantri Finmart, doesn’t have positive wordings on the stake sale process. He has raised concerns about the IPO’s valuations.
In an exclusive interview with Money9, Mantri said, “Risk reward ratio is not favourable in this IPO. I would suggest investors to keep away from this public issue.” He rather advised investors to ditch the Dee Development IPO and invest in the secondary market if the stock prices dip below the IPO price after listing.
Dee Development IPO Allotment Date
The expected Dee Development IPO allotment date is Monday, June 24, 2024.
Dee Development IPO Listing Date
The shares issued in the public offer are expected to list on Wednesday, June 26, 2024 on the BSE and NSE.
Dee Development IPO Price Band
The public issue comprises fresh issue of equity shares worth Rs 325 crore and an offer for sale (OFS) of 45.82 lakh shares. Dee Development IPO size is Rs 418 crore. The IPO price band is fixed at Rs 193-203 per share.
Dee Development IPO Structure
Retail investors can bid for 73 shares in one lot and in multiples thereafter. They will get to subscribe 35 per cent of total IPO size. While, 50 per cent of the quota is reserved for Qualified Institutional Buyers (QIBs) and 15 per cent for Non-Institutional Investors (NIIs).
Haryana based, Dee Development Engineers is an engineering company which provides specialized process piping solutions for various industries like oil and gas, power, chemicals inter alias.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Dee Development IPO GMP today stood around Rs 50. Dee Development IPO subscription was 60 per cent completed at 12:40 pm on Wednesday, June 19, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
