Shares of DEE Development Engineers touched a day’s high of Rs 700 on the NSE on Thursday, July 9, right after it closed a Rs 300 crore raise.

The company issued 59.76 lakh equity shares at Rs 502 each. Investors in the deal included funds managed by WhiteOak Capital, Kotak Mahindra Trustee Company, ValueQuest and 360 ONE, alongside a few other long term backers.

Chairman and Managing Director K L Bansal called it a reflection of the confidence long term investors have in DEE Development growth strategy and execution ability.

The fresh capital, he said, gives the company more flexibility to strengthen its manufacturing footprint and push into higher value engineering segments.

The raise comes at a good time for the company. As of June 30, DEE Development order book stood at Rs 2,428.20 crore, with new orders worth Rs 780.87 crore added so far this financial year.

Power projects make up the biggest share of that order book at Rs 1,219.03 crore, followed by oil and gas at Rs 854.76 crore.

It also follows a strong FY26. Revenue grew 38% to Rs 1,142 crore, and profit after tax jumped 77% to Rs 77 crore.

The company recently added a Rs 386.83 crore piping contract from BPCL to its books as well. Shares of DEE Development Engineers closed the session at Rs 677.50 on the NSE, up 0.38% for the day.

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