Dee Development Engineers Shares Skyrocket by 65% on Strong IPO Debut

Shares of Dee Development Engineers Ltd surged 65% from the issue price of Rs 203 after a successful IPO debut. The company's stock listed at Rs 325 on the BSE and ended the day at Rs 335. The market valuation reached Rs 2,313.31 crore. The IPO was subscribed 99.56 times.

Shares of piping solutions provider Dee Development Engineers Ltd on Wednesday shattered expectations, closing with a premium of 65 per cent at Rs 335 against the issue price of Rs 203.

Listed at Rs 325 on the BSE, the stock soared to a day high of Rs 365.70 before settling. On the NSE, it opened at Rs 339 and concluded the trading session at Rs 333.33, surfacing a 64.20 per cent rise. The company's market valuation now stands at a striking Rs 2,313.31 crore.

The Initial Public Offering (IPO) of Dee Development Engineers was oversubscribed by 99.56 times, highlighting strong investor sentiment. The Rs 418-crore IPO featured a fresh issue of up to Rs 325 crore and an offer for sale of 45,82,000 equity shares, priced between Rs 193 and Rs 203 per share.

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