The DEE Development Engineers’ IPO received a very high level of interest on the final day, with a subscription of 94 times. Qualified Institutional Buyers (QIBs) subscribed 192 times, and the price band for the IPO was between Rs 193-203 per share.

The number of times an initial public offering (IPO) is subscribed to the total number of shares issued is referred to as IPO subscription. For the above IPO, it received 94 times subscriptions, which means that the public offering was bid for 94 times more than the actual number of shares issued by the company.

DEE Development Engineers plans to allocate Rs 75 crore from the net fresh issue proceeds for working capital needs, Rs 175 crore for debt repayment, and the remaining funds for general corporate purposes.

The IPO attracted strong support from investors, with a total of 140 crore equity shares subscribed against the offer size of 1.49 crore equity shares. Qualified Institutional Buyers (QIBs) led the support for the IPO, subscribing 192.47 times their allotted quota. High net-worth individuals (non-institutional investors) followed with a subscription of 140.4 times their quota. Retail investors purchased nearly 20 times the portion set aside for them.

DEE Development Engineers, a company that provides piping solutions for various industries, launched its public issue to raise Rs 418.01 crore at a price band of Rs 193-203 per share. The IPO comprises a fresh issue of shares worth Rs 325 crore and an offer-for-sale of 45.82 lakh shares worth Rs 93.01 crore.

Haryana-based DEE Piping Systems secured Rs 125.1 crore from anchor investors, including HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, LIC Mutual Fund, Pinebridge Global Funds, Troo Capital, Citigroup, Morgan Stanley, and Societe Generale, a day before the IPO opening.

The public issue is set to close on June 21.