IPO There is good news for investors who have invested in DDEL. The IPO of piping solution provider The Development Engineers Limited (DDEL) will open on June 19. The company is planning to raise Rs 418 crore from the market through this IPO. The price range of Rs 193-203 per share has been fixed for this issue. The issue will close on June 21. Before this, big (anchor) investors will be able to bid on June 18. According to the draft documents related to the IPO, new equity shares worth Rs 325 crore will be issued under the IPO. Apart from this, promoter Krishna Lalit Bansal will also offer for sale 45.82 lakh equity shares worth Rs 93 crore.
Where will the IPO money be used
Thus, the total size of the IPO becomes Rs 418 crore. The company’s Chief Financial Officer Sameer Aggarwal said that out of the Rs 325 crore to be raised from the share sale, Rs 175 crore will be used to pay debt, Rs 75 crore to meet working capital requirements and the remaining Rs 75 crore for general corporate purposes. The Development is an engineering company that provides specialized process piping solutions for oil and gas, power (including nuclear), chemical and other processing industries through engineering, procurement and manufacturing.
Ixigo’s IPO gets bumper response
The initial public offering (IPO) of Le Travelues Technologies, which operates travel booking platform ixigo, was subscribed 24.32 times till 4 pm on Wednesday, the third day of the offering. According to NSE data, the company’s Rs 740 crore IPO received bids for 40,74,46,403 shares out of the 4,37,69,494 shares on offer. The non-institutional investors’ segment was subscribed 58.67 times while the retail individual investors’ portion was subscribed 34.30 times. At the same time, the category of qualified institutional investors got 3.81 times subscription.
120 crore new shares in IPO
New shares worth Rs 120 crore have been issued in the IPO of Le Travenues Technology. The issue also includes an offer for sale (OFS) of 6,66,77,674 existing shares. Out of the amount received from the sale of new shares, Rs 45 crore will be used by the company to meet working capital requirements. At the same time, Rs 26 crore will be invested in technology. The price range for the IPO has been fixed at Rs 88 to Rs 93 per share. The company raised Rs 333 crore from anchor investors on Friday.
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