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Luthra led DEE Development Engineers Limited’s Successful IPO – Oversubscribed by 99.4 times

Luthra and Luthra Law Offices India Advises SBI Capital Markets and Equirus Capital on DEE Development Engineers Limited’s IPO

The law firm provided legal counsel to SBI Capital Markets and Equirus Capital for DEE Development Engineers Limited’s initial public offering (IPO), aimed at raising up to ₹3,250.00 million through a fresh issue and ₹930.15 million via offer for sale.

The IPO witnessed an overwhelming response with the company’s equity shares oversubscribed by 99.4 times. DEE Development Engineers Limited debuted on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE India) on June 26, 2024.

The transaction was overseen by Partner Geeta Dhania, supported by Senior Associate Tripti Pandey, and Associates Sakshi Mandal, Ridhi J., Shreeya Srungarapu, Vedaarth Uberoi, Abhishek Gupta, and Anusha Agarwal.

DEE Piping Systems (incorporated as DEE Development Engineers) is world’s leading manufacturer of Shop Fabricated Pipe Spools, which find application in thermal power plant projects, oil & gas projects, petroleum & natural gas projects, process plant projects and nuclear power plant projects. DEE’s products and services include Shop Fabrication of Pipe Spools, Induction Pipe Bends, Pipe Fittings, Modular Piping, Engineering Services, Hangers and Support systems, Pressure Vessels and Valves.

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