DEE Piping Systems IPO review: Should you apply? Here's what Anil Singhvi suggests

DEE Piping Systems IPO review: The initial public offering (IPO) of DEE Piping Systems opened for subscription today, June 19. The IPO of the engineering company will be open for subscription for three trading days, i.e., until Friday, June 21 from 10 am to 5 pm.

DEE Piping Systems IPO review: Should you apply or not? 

Zee Business Managing Editor Anil Singhvi suggested investors apply for the DEE Piping Systems for reasonable listing gains and the long term. The market guru has identified the following key points about the DEE Piping Systems IPO:

Positives:

• Strong promoters & into a niche business
• Decent financial performance 
• Strong margins
• Decent order book

Negatives:

• Business size is small compared to peers
• The company has a Rs 371 crore debt; although the proceeds from the fresh issue will be used for debt payment
• Valuations are reasonable, neither expensive nor very cheap

DEE Piping Systems IPO subscription status

According to provisional exchange data, DEE Piping Systems IPO's share sale received bids for 5,62,45,478 shares against 1,49,44,944 shares on offer, translating into a subscription of 3.76 times on Thursday so far, the second day of the bidding process.

DEE Piping Systems IPO allotment date

The basis of the allotment of shares under the IPO of DEE Piping Systems is set to be finalised on Monday, June 24. 

DEE Piping Systems IPO listing date

The stock is likely to be listed in the secondary market on Wednesday, June 26. The stock will be traded on the bourses, BSE and NSE. Read more 

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