Dee Development Engineers Ltd. has announced to open its initial public offering (IPO) of equity shares for bidding on Wednesday, (June 19), in the price band of ₹193-203 per equity share of face value of ₹10 each. The IPO comprises fresh offer of up to ₹325 crore and offer for sale of up to 45,82,000 equity shares. Bids can be made for a minimum of 73 equity shares and in multiples of 73 shares thereafter.
The company proposes to utilise net proceeds from the fresh issue towards funding working capital requirements estimated at ₹ 75 crore in FY25, prepayment or repayment of all or a portion of certain outstanding borrowings estimated to ₹175crore in FY25; and the balance towards general corporate purposes.
Dee Development Engineers fixes IPO price band at ₹193-203
