DEE Development Engineers Secures In-Principle Approval for Preferential Equity Issue
DEE Development Engineers Limited has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited (NSE) for the issuance of equity shares on a preferential basis. The approval facilitates the intended capital raise, which targets promoters and the public investor base.The company confirmed the receipt of the necessary preliminary approvals for the issue of 59,76,096 equity shares. These shares are set to be issued at a price of Rs 502 per share, structured with a face value of Rs 10 each, resulting in a premium of Rs 492 per equity share.
The preferential issuance is designated for Promoter and Non-Promoters (Public). The details of the proposed issue are summarized below:
| Parameter | Detail |
|---|---|
| Company Name | DEE Development Engineers Limited |
| Total Shares to be Issued | 59,76,096 |
| Face Value per Share | Rs 10 |
| Issue Price per Share | Rs 502 |
| Premium per Share | Rs 492 |
| Target Allottees | Promoter and Non-Promoters (Public) |
The attainment of this in-principle approval from the exchanges paves the way for the subsequent allotment process, allowing DEE Development Engineers Limited to proceed with the planned capital raising under the preferential terms.
DEEDEV Stock Price Movement
On Wednesday, DEE Development Engineers Limited gained 5.00%, closing at ₹675.55 after a strong performance throughout the session. The stock recorded a traded volume of 64,611 shares during the period.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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