Dee Development Engineers, CJ Darcl Logistics file papers with Sebi for IPOs: Here’s all you need to know

Engineering firm Dee Development Engineers and diversified logistics player CJ Darcl Logistics have filed their draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) for their respective initial public offerings (IPOs).  

Dee Development Engineers provides specialised process piping solutions for industries such as oil and gas, power, chemicals and other process industries through engineering, procurement and manufacturing. CJ Darcl Logistics has over 36 years of operational experience in providing differentiated logistics solution with its pan-India presence, integrated service offerings, market intelligence and know-how, focuses on improving service through technology and large network of business partners. Here’s all you need to know about Dee Development Engineers and CJ Darcl Logistics:

Dee Development Engineers 

Dee Development Engineers aims to raise funds through offer of equity shares through initial public offerings (IPO). The offer comprises of fresh issue of equity shares aggregating up to Rs 325 crore and an offer for sale of up to 7,900,000 equity shares by selling shareholders (Krishan Lalit Bansal).

The company proposes to utilise net proceeds from the fresh issue towards- funding working capital requirements of the company, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and its subsidiaries, DEE Piping Systems (Thailand) and DEE Fabricom India and general corporate purposes.

The equity shares that will be offered through the red herring prospectus are proposed to be listed on the BSE and NSE. SBI Capital Markets Limited and Equirus Capital Private Limited are the book-running lead managers to the issue.

CJ Darcl Logistics 

CJ Darcl Logistics’ plans offer comprises of fresh issue of equity shares aggregating up to Rs 340 crore and offer for sale up to 5,431,071 equity share by selling shareholders.

The company proposes to utilise net proceeds from the fresh issue towards—repayment or prepayment of certain outstanding borrowings availed by company, funding capital expenditure requirements of the company towards the purchase of EVs and general corporate purposes.

The offer for sale comprises up to 369,000 equity shares by Krishan Kumar Agarwal, up to 203,502 equity shares by Roshan Lal Agarwal, up to 230,897 equity shares by Narender Kumar Agarwal, up to 578,000 equity shares by Vineet Agarwal, up to 529,279 shares by Sushma Agarwal, up to 447,489 shares by Puneet Agarwal, Up to 446,285 shares by Samiha Agarwal, up to 4,25,129 shares by Nitesh Agarwal, Up to 336,535 Shares by Darshan Kumar & Sons (HUF) and up to 289,574 Shares by Tek Chand Agarwal.

ICICI Securities, Axis Capital & Mirae Asset Capital Markets (India) are the Book Running Lead Managers to the issue.

Shares of Dee Development Engineers and CJ Darcl Logistics are proposed to be listed on the BSE and NSE.

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