DEE Piping Systems IPO was subscribed to a total of 5.29 times. Out of which, the retail segment was booked 5.58 times and 11.40 times in the QIB section.
The company opened its IPO on June 19 and will close taking bids on June 21. The company wants to raise Rs 418 crore from investors. Retail investors were offered 35% of the issue. The company’s share allotment is expected to be finalised on June 24. In simple terms, the allotment of shares is the allocation of shares by the registrar after three-four days of subscription closing. The registrar allocates shares in the demat account after consulting the designated stock exchange. To check the allotment status, investors can visit the website of the registrar.
Here’s how you can check allotment status of DEE Piping Systems:
Step 1
You need to go to the website of Link Intime India Pvt. Ltd.
Step 2
Click on the public issue button and wait for a screen to pop up.
Step 3
Fill in your details like: the company name (here we’ll select DEE Piping Systems), PAN Number/Application Number/Client ID/Account number
Step 4
Now, you just need to hit the submit button, and the result will pop up on your screen.
GMP
The company’s shares are attracting a premium of 48.28% in the grey market. It is an unofficial market where shares exchange hands illegally ahead of listing on the bourses.
About DEE Piping Systems
DEE Piping Systems is an engineering company that specializes in process piping solutions for various industries, including oil and gas, power (including nuclear), chemicals, and other process industries. With over 35 years of manufacturing experience, the company has effectively leveraged its strong brand, strategically located manufacturing facilities, and engineering expertise to successfully grow its business. As part of the specialized process piping solutions, the company manufactures and supplies a wide range of piping products.
Registrar and BRLMs
SBI Capital Markets and Equirus Capital are handling the book of DEE Piping Systems’ issue, while Link Intime India is working as the registrar for the issue.
Listing
The company is expected to make its debut in the secondary markets on June 26. The company’s shares will be available on NSE and BSE for trading from that day onwards.
Price Band and Minimum Investment
DEE Piping System set the IPO price band in a range of Rs 193 to 203 per equity share. The retail investors need to apply for a minimum of one lot in an application, which contains 73 shares amounting to Rs 14,819 and then in the multiple of it. Lot sizes for the NIIs and QIBs are different.