DEE Piping Systems

DEE Piping Systems

DEE Piping Systems and Akme Fintrade India Make Strong Market Debuts. DEE Piping Systems and Akme Fintrade India have made a successful debut on Dalal Street, indicating a bright future for both companies in the public market.

DEE Piping Systems’ IPO Listing

DEE pipe Systems, known for its specialist process pipe solutions in industries including oil and gas, power, and chemicals, made a spectacular debut on the National Stock Exchange (NSE). The company’s shares started for Rs 339, up 67% from the issue price of Rs 203. Similarly, on the Bombay shares Exchange (BSE), the shares debuted at Rs 325, up 60.10%.

The IPO, which featured a fresh issue of up to Rs 325 crore and an offer to sell up to 45,82,000 equity shares, sparked strong investor interest. The issue was oversubscribed by 99.56 times, indicating high investor interest across all categories. Qualified Institutional Buyers (QIBs) subscribed 201.91 times, while non-institutional investors showed 144 subscription. Retail individual investors (RIIs) also participated actively with a subscription rate of 23.42 times.

Akme Fintrade India’s IPO Listing

Akme Fintrade India, which focuses on financing solutions for rural and semi-urban areas, also saw a positive listing. The company’s shares debuted on the NSE at Rs 127, up 5.83% from its issue price of Rs 120. On the BSE, the stock opened at Rs 125.70, up 4.75%.

The IPO, with a fresh offering of up to 1.1 crore equity shares priced between Rs 114 and Rs 120, attracted a strong investor reaction. The issue was oversubscribed by 53.94 times, with non-institutional investors paying 129.53 times and RIIs paying 43.67 times. QIBs subscribed 28.12 times, demonstrating their faith in Akme Fintrade’s business concept.

Market Outlook and Investor Sentiment

DEE Piping Systems and Akme Fintrade India made successful market debuts, indicating high investor sentiment and confidence in their growth potential. DEE Piping’s experience in vital industrial areas and Akme Fintrade’s specialized lending strategy have resonated with the market, resulting in significant subscription rates across investor categories.

As both firms consolidate their post-listing positions, market observers are bullish about their ability to produce value to shareholders in the face of a volatile economic environment.

Stay tuned for more updates and insights into the performance of DEE Piping Systems and Akme Fintrade India as they embark on their first adventure on Dalal Street.

Source: ET News

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