New Delhi: Shares of piping solutions provider D Development Engineers Ltd were listed at a 67 per cent premium over the issue price of Rs 203 on Wednesday.
The stock was listed at Rs 325 on BSE, 60 per cent above the issue price. Later it jumped 80.14 percent to Rs 365.70.
It started trading at Rs 339 on NSE, registering a jump of 66.99 percent.
The market valuation of the company stood at Rs 2,246.33 crore.
The initial public offering (IPO) of DEE Development Engineers was subscribed 99.56 times on the last day of subscription on Friday.
The initial share sale of Rs 418 crore involved a fresh issue of up to Rs 325 crore and a proposal for sale of 45,82,000 equity shares.
The price range for the offer was Rs 193-203 per share.
D Development is an engineering company that provides specialized process piping solutions to industries such as oil and gas, power (including nuclear), chemical and other process industries through engineering, procurement and manufacturing.
Currently, the company has seven manufacturing facilities, of which three are in Palwal in Haryana, one each in Anjar in Gujarat, Barmer in Rajasthan, Numaligarh in Assam and Bangkok in Thailand.
The company's customers include JGC Corporation, Nuoter Ericsson, MAN Energy Solutions SE, Mitsubishi Heavy Industries, John Cockerill SA, Reliance Industries, HPCLMittal Energy Limited and Toshiba JSW Power Systems.
The stock was listed at Rs 325 on BSE, 60 per cent above the issue price. Later it jumped 80.14 percent to Rs 365.70.
It started trading at Rs 339 on NSE, registering a jump of 66.99 percent.
The market valuation of the company stood at Rs 2,246.33 crore.
The initial public offering (IPO) of DEE Development Engineers was subscribed 99.56 times on the last day of subscription on Friday.
The initial share sale of Rs 418 crore involved a fresh issue of up to Rs 325 crore and a proposal for sale of 45,82,000 equity shares.
The price range for the offer was Rs 193-203 per share.
D Development is an engineering company that provides specialized process piping solutions to industries such as oil and gas, power (including nuclear), chemical and other process industries through engineering, procurement and manufacturing.
Currently, the company has seven manufacturing facilities, of which three are in Palwal in Haryana, one each in Anjar in Gujarat, Barmer in Rajasthan, Numaligarh in Assam and Bangkok in Thailand.
The company's customers include JGC Corporation, Nuoter Ericsson, MAN Energy Solutions SE, Mitsubishi Heavy Industries, John Cockerill SA, Reliance Industries, HPCLMittal Energy Limited and Toshiba JSW Power Systems.
