DEE Development Engineers IPO opens today: Should you subscribe to the issue
DEE Development Engineers is looking to raise a total of Rs 418.01 crore via IPO, which includes a fresh share sale of up to Rs 325 crore, while an OFS of up to 45,82,000 shares.
- Jun 19, 2024,
- Updated Jun 19, 2024 10:23 AM IST
The initial public offering (IPO) of DEE Development Engineers opens for bidding on Wednesday, June 19 and can be subscribed until Friday, June 21. The company is selling its shares in the fixed price band of Rs 193-203 apiece and investors can apply for a minimum of 73 equity shares and its multiples thereafter.
DEE Development's financial performance is likely to be driven by its robust balance sheet, long-standing customer relationships, capacity expansion, higher entry barriers, and strong management team holding impressive backgrounds, said StoxBox in its IPO note.
"The issue is valued at a P/E of 56.4 times on the upper price band based on FY24 earnings, which we feel is fairly valued given the strong growth prospectus and stickiness of customers. We, therefore, recommend a 'subscribe' rating for the issue," it added.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
The initial public offering (IPO) of DEE Development Engineers opens for bidding on Wednesday, June 19 and can be subscribed until Friday, June 21. The company is selling its shares in the fixed price band of Rs 193-203 apiece and investors can apply for a minimum of 73 equity shares and its multiples thereafter.
DEE Development's financial performance is likely to be driven by its robust balance sheet, long-standing customer relationships, capacity expansion, higher entry barriers, and strong management team holding impressive backgrounds, said StoxBox in its IPO note.
"The issue is valued at a P/E of 56.4 times on the upper price band based on FY24 earnings, which we feel is fairly valued given the strong growth prospectus and stickiness of customers. We, therefore, recommend a 'subscribe' rating for the issue," it added.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.