Shares of DEE Development Engineers Limited and Acme Fintrade India Limited have been listed on the stock exchange today. DEE Development was listed at Rs 339 with a 67% premium on the National Stock Exchange (NSE). At the same time, the company’s share was listed at Rs 325, up 60.10% on the Bombay Stock Exchange (BSE). The company had fixed the issue price band of the IPO at ₹ 193-₹ 203. Apart from this, the share of Acme Fintrade India Limited was listed at Rs 127 with a 5.83% premium on the NSE. At the same time, the company’s share was listed at Rs 125.70, up 4.75% on the BSE. The initial public offer i.e. IPO of both the companies opened on June 19. Acme Fintrade had fixed the issue price band at ₹ 114-₹ 120. DEE Development’s IPO was subscribed a total of 103.03 times DEE Development Engineers Limited’s IPO was subscribed a total of 103.03 times. The issue was subscribed 23.66 times in the retail category, 206.54 times by Qualified Institutional Buyers (QIB) and 149.38 times by the Non-Institutional Investors (NII) category. Acme Fintrade India’s IPO was subscribed a total of 54.49 times Acme Fintrade India Limited’s IPO was subscribed a total of 54.49 times. The issue was subscribed 44.58 times in the retail category, 28.12 times by QIB and 129.98 times by the NII category. DEE Development’s issue was worth ₹418.01 crore The issue of DEE Development Engineers Limited was worth a total of ₹418.01 crore. For this, the company has issued 16,009,852 new shares worth ₹325 crore. At the same time, the existing investors of the company have sold 4,582,000 shares of ₹93.01 through Offer for Sale i.e. OFS. Acme Fintrade’s issue was worth ₹132 crore The issue of Acme Fintrade India Limited was worth a total of ₹132 crore. For this, the company has issued 11,000,000 new shares worth a total of ₹132 crore. The existing investors of the company have not sold a single share through Offer for Sale i.e. OFS. DEE Development Engineers was founded in 1988 DEE Development Engineers Limited is an engineering company, founded in 1988. The company provides specialized process piping solutions to oil and gas, power, chemical and other industries through engineering, procurement and manufacturing. The company has 7 manufacturing facilities in Haryana, Gujarat, Rajasthan, Bangkok and Thailand. What is an IPO? When a company issues its shares to the general public for the first time, it is called an Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
