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Welcome to our latest video where we dive deep into the highly anticipated DEE Development Engineers IPO! This video is a must-watch if you're considering investing in this leading engineering company. DEE Development Engineers Limited, established 36 years ago, is now India's number one company in process piping solutions.
**Key Highlights:**
1. **Company Overview:** DEE Development Engineers, incorporated in 1988, manufactures and supplies piping products to various industries including oil and gas, power, chemicals, and more.
2. **Manufacturing Facilities:** The company boasts 7 manufacturing facilities, including one in Bangkok, a heavy fabrication facility in Gujarat through its wholly-owned subsidiary DFIPL, and a dedicated engineering facility in Chennai. Additionally, it operates two biomass power generation plants in Punjab.
3. **Global Network:** DEE's products are supplied not just in India but across the globe in regions like the USA, Europe, Japan, Canada, Middle East, Nigeria, Vietnam, Singapore, China, and Taiwan.
4. **Clientele:** Some notable customers include Mitsubishi Heavy Industries, Reliance Industries, and HPCL–Mittal Energy.
5. **Financial Snapshot:**
- Income (₹ crore): FY21: 495, FY22: 460, FY23: 595, Q3FY24: 545
- Net Profit (₹ crore): FY21: 14.2, FY22: 8.19, FY23: 12.9, Q3FY24: 14.3
- Revenue growth at 6% CAGR from FY21 to FY23
6. **Market Insights:** The global process piping systems market was valued at $39.2 billion in 2023 and is expected to grow at a 4.8% CAGR to reach $54.5 billion by 2030, benefiting DEE Development Engineers.
7. **Company Strengths:** DEE operates in a high-barrier industry, focuses heavily on automation, and has an experienced engineering team.
8. **Challenges:** The company has a significant debt of ₹386 crore as of 15 April 2024, is heavily dependent on the oil and gas sector, and some of its manufacturing facilities are underutilised.
9. **IPO Details:**
- Issue Size: ₹418 crore (Fresh Issue: ₹325 crore, Offer for Sale: ₹93 crore)
- Subscription Dates: 19-21 June 2024
- Price Band: ₹193 – ₹203 per share
- Lot Size: 73 shares
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