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- IPO Price Details 2024 Update; DEE Development Engineers | Akme Fintrade IPO
Mumbai3 hours ago
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Today i.e. on June 19, 2 Initial Public Offers i.e. IPOs will be open for listing in the share market. These include DEE Development Engineers Limited and Acme Fintrade India Limited. Let us know about the IPO of these two companies one by one.
DEE Development Engineers Limited
DEE Development Engineers Limited wants to raise a total of ₹418.01 crore through this IPO. For this, the company will issue 16,009,852 new shares worth ₹325 crore. At the same time, the existing investors of the company will sell 4,582,000 shares worth ₹ 93.01 crore through Offer for Sale i.e. OFS.
Retail investors will be able to bid for this IPO from June 19 to June 21. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on June 26.
Retail investors can bid for maximum 949 shares
DEE Development Engineers Limited has fixed the price band of this issue at ₹193-₹203. Retail investors can bid for a minimum of one lot i.e. 73 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 203, then you will have to invest ₹ 14,819.
At the same time, retail investors can apply for maximum 13 lots i.e. 949 shares. For this, investors will have to invest ₹ 192,647 as per the upper price band.
DEE Development Engineers’ premium in gray market is 24.63%
Before the IPO opened, the company’s shares had reached a premium of 24.63% i.e. ₹ 50 per share in the gray market. In such a situation, according to the upper price band of ₹ 203, its listing can be at ₹ 253. Although this can only be a guess, the listing price of a share is quite different from the gray market price.
DEE Development Engineers was established in 1988
DEE Development Engineers Limited is an engineering company, established in 1988. The company provides specialized process piping solutions to the Oil & Gas, Power, Chemical and other industries through engineering, procurement and manufacturing. The company has 7 manufacturing facilities in Haryana, Gujarat, Rajasthan, Bangkok and Thailand.
Acme Fintrade India Limited
Acme Fintrade India Limited wants to raise a total of ₹132 crore through this IPO. For this, the company will issue 11,000,000 new shares worth ₹132 crore. In this, the existing investors of the company are not selling even a single share through Offer for Sale i.e. OFS.
Retail investors will be able to bid for this IPO from June 19 to June 21. The company’s shares will be listed on the National Stock Exchange and Bombay Stock Exchange on June 26.
Retail investors can bid for maximum 1625 shares
Acme Fintrade India Limited has fixed the price band of this issue at ₹114-₹120. Retail investors can bid for a minimum of one lot i.e. 125 shares. If you apply for 1 lot at the upper price band of IPO at ₹120, you will have to invest ₹15,000.
At the same time, retail investors can apply for maximum 13 lots i.e. 1625 shares. For this, investors will have to invest ₹ 195,000 as per the upper price band.
Acme Fintrade India premium in gray market 27%
Before the IPO opened, the company’s shares had reached a premium of 27% i.e. ₹ 33 per share in the gray market. In such a situation, according to the upper price band of ₹ 120, its listing can be at ₹ 153. However, this is only an estimate, the listing price of a share is quite different from the gray market price.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
